If you are new to niche marketing, it’s important to understand that it’s a very profitable form of marketing. And if you’re failing, it’s not because niche marketing doesn’t work. It’s because you haven’t done the proper research, haven’t put into action the things you’ve learned, and likely you’re jumping from one project to the next without making the first one a success. Hint: If you own more than five domain names, but do not have even one profitable website, you’re probably making one of these three common mistakes.
Jumping In Too Fast
It’s imperative to first do research before jumping into any niche. You need to know who your audience is, down to their age, sex, child status, and anything else important to know, so that you can create or find good products and/or services in which to promote to them. If you jumped in without doing the research, it will seem to take longer to earn a profit. You need to know who the audience is, whether the niche can be monetized, and who the competition is before you even buy a domain name.
Research the audience; study the competition; create or find products. In that order. Don’t skip these steps or you’ll be jumping in too fast and may waste a lot of money, time, and effort on an idea that can’t work. Continue reading
When you choose an audience for whom to create products and services, you’ve created a niche for yourself. Your niche is a subset of a particular market and is a way to help you define the benefits of a particular product or service to your audience.
For example, your target market might be women who are mothers of preteens. You might create a variety of products and services for these mothers of preteens. This can put you into a variety of niches. For example, you could offer modular clothing to make it easier for the preteens to dress fashionably without worrying about breaking school rules. You might also sell tutoring to preteens, or offer parenting tips on your blog focused on moms of preteens.
Understanding the Difference between Your Niche and Your Audience
The items that you sell or promote are your niche; how you market your niche depends on who your audience is. If you have a niche prior to having an audience, you might end up with more than one audience. For instance; an insurance agency might have many different target audiences for which they create very specific commercials to target very different audiences, but their niche is still insurance sales. Continue reading