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Marketing Information |
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Niche And Grow Rich
Unless you've been living under an Internet rock, you'veprobably heard the buzz about Niche Marketing. Right nowit's the hottest marketing topic online. Is it a new concept? Well on the Internet maybe, but if like me, you've beeninvolved in direct response marketing in the 'Bricks andMortar' world then it isn't - that's the way we've donethings since time immemorial. So what's this Niche Marketing thing all about? If you have ever taken Marketing 101 then you'll have heardof the old marketing adage : "Find a need and fill it" -that's what "Niche Marketing" is all about. Finding a"focussed" group of people, with a specialized interest,eager to buy (The Niche) and promoting a suitable product orservice to all those interested in buying it (Marketing). Let me give you a few examples of these Niches : RecipesGolfFishingHealth and FitnessTravelCollectiblesDatingDog TrainingSatellite TVBeauty TipsAstrologyCatsBartendingAlternative HealthHand-poured CandlesGourmet FoodsGamblingMortgagesCredit CardsMusicJewellery ...... the list just goes on and on and these are just themain headings, there are niches within each of these niches... Think of a subject and there's likely a niche market forit... But the name of the game is to find a "tightly focussed"niche. The reason for this that if you target a generalmarket the competition is fierce and it's hard, if notimpossible, for the little guy to get a foothold. When you narrow down the size of the market you eradicatemost of the heavy hitters with bottomless advertisingbudgets, because these guys aren't interested in making afew thousand bucks a year from these tiny specializedmarkets, they're after millions from mass markets... ... And let's face it if you're a little guy you simplycan't be everything to everybody, so you must pick aspecific focus (Niche) for your business. For example don'ttarget "Fishing", instead target "Fishing Baits" or "FishingLures" both of which have a much more specific focus... ...Get the idea? Once you narrow down the size of the market you have anautomatic advantage over larger companies. Here's why : * You can quickly become an expert in your niche (if you'renot already) * It's easier to keep current with a narrowly focussedmarket niche * You can respond faster to changes in the market * You can build close relationships with key customers thatwill be hard to compete with This is something I learned from experience - if you'reinterested you can read my story here :http://www.nichemarketknowhow.com/articles/andre-anthony-value-of-niche-marketing.htm. By now you're probably wondering about the mechanics of thisniche marketing stuff. In a nutshell here's how it works : * Find and research profitable niche markets * Locate or develop suitable products/services to market * Set up a web site to market the products/services * Establish a marketing system that works for you * Repeat the process over and over again with a different niche each time. Imagine having a niche site producing one sale a day at say $20. That's $7300 a year - how many sites could you set up and run 10, 20 ....? But before you get too excited, I have a word of caution foryou: Niche marketing is not a magic bullet. It isn't a matter ofputting up a web site and then sitting back and waiting forthe money to roll in - "build it and they will come" mayhave worked for Kevin Costner in Field of Dreams, but itdoesn't work that way on the Internet - if you do thatyou'll be waiting a long time. If you want a successful niche business, you have to work atit just like any other business - if you're prepared to putin the effort though the rewards can be significant. Copyright © 2005, André Anthony Niche Market Know-How André Anthony owns and operates Niche Market Know-How aresource for beginning Niche Marketers. Visithttp://www.nichemarketknowhow.com today to find strategies,tips, tools, products and resources for effective nicheproduct creation and marketing. Get his Niche MarketKnow-how Mini Course here:http://www.nichemarketknowhow.com/course.htm
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