Anyone searching for items that are provided by smaller ‘niche markets’ is from a more defined segment of the population, and they are your potential customers. You just need to do your research to find the untapped markets and cater to them exclusively, rather than trying to cater to the entire world in general.
Making a lot of money in this type of environment can be next to impossible for someone with little or no funds to do the advertising that would need to be done. Even though there is a huge market for shoes (presumably almost everybody wears them), going up against these powerhouses can be crushing.
On the other hand, if you chose to promote a small section of the ‘shoes’ market, let’s say “extra wide shoes in sizes 15 and up”, that narrows the market considerably, and this might be an item that the majority of the competing sites don’t even carry at all, leaving the market wide open for you to fill.
Find A Need And Fill It – That’s Niche Marketing!
While narrowing your market down to just a small part of the bigger picture may cost you a few sales, going after the smaller size shoes market, in our example, this entire market of people who wear “extra wide size 15 shoes” is your potential customer base. Anyone who does a search on this particular size shoe is much more motivated and more likely to buy than someone who is just looking for “shoes” in general, and who may be just window shopping.
It’s hard to imagine the vastness of the internet, but rest assured that even in such a narrowly defined niche, the number of potential customers can be quite huge. Remember that your marketplace on the internet is virtually the entire world, not just your local area.
When you do your market research and write your business plan, you will find out more about the potential profitability of a particular product.
These small niches, which will become your target market, have unique needs, and your marketing campaigns must be designed to meet those needs, which will be determined by whatever product or service you decide to promote. The key to your online success in this business will be to find an unfulfilled ‘niche’ market and figure out a way to fill it.
Your Niche Marketing Strategy – You Don’t Have To Compete With The Sharks!
One of the greatest things about niche marketing is the fact that, because you are seeking smaller market segments, you don’t have to worry about competing with the marketing giants of the internet and their huge marketing budgets. Let IBM and Amazon do their thing, you just worry about your little piece of the internet!
The first thing you are going to need to do is identify a problem that people are seeking to solve, or a product or service that they are looking for to make them look or feel better, then find the solution. You can begin by doing keyword research to find the exact phrases people are using when they look for the solution to their problem, and this will give you the keywords you need to use in your blog posts to target that market.
One way of finding what people are looking for on the internet is to use the free Google Adwords keyword tool (or whatever keyword tool you prefer) and type in phrases such as: “how to cure”, “secret to”, “how to remove”, “how to buy”, “instructions for” ect.
Brainstorm for niche ideas – any phrase you can think of that a person might type into the search box when they are looking for something to solve a problem, make them happy, make them feel good, make them look better or younger, etc. Check eBay and Amazon to see what products they are selling, look around you everywhere you go for ideas.
If you feel like creating a successful online business is something that is for other people but out of reach for you, you will be surprised at what you can do once you get started and stick with it. An online niche affiliate marketing business is something that is within reach of anyone who is willing to put in the time and effort it takes to make it happen.