Ron Killian
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According to Wikipedia, Niche Marketing is defined as:
"A niche market is the subset of the market on which a specific product is focused. The market niche defines as the product features aimed at satisfying specific market needs, as well as the price range, production quality and the demographics that is intended to impact. It is also a small market segment."
One of the biggest struggles marketers have, especially new ones, is picking the right niche or market. We see the question almost every day, "Which niche should I get into?"
There are the usual answers, ones I've given myself, such as get into something you know about, or something your passionate about. Both are not exactly bad advice. But there is a slight lack, a missing piece.
Or a way to add some gas to the machine.
As per the previous definition, a niche market is a subset or the marketing of a specific product.
That's the key, and where much of the profits can be. Something many marketers miss or they do not dive deep enough.
I am talking about getting very focused and really narrowing it down.
Let's take some examples...
How about Car Audio?
You could try marketing car stereo's and you "might" have some success. I say might because it's quite general and since it's so general, and a large segment, you'll probably be up against some big competition.
But....
What is we narrowed it down? What about Subwoofers? Midrange speakers? Speaker crossovers?
Better yet, what about name brands? Pioneer, Sony, or JVC?
A surfer searching for car stereo, could be looking for a wide range of products. Could be any one of a 1000 or more different products. But someone looking for Polk 5-1/2" car speakers, well you've just given them exactly what they want. What do you think your chances of getting the sale are, if you're promoting exactly what they want? Much improved to say the least.
Let's try another example...
Cordless drills. Pretty general, right? How about narrowing it down. What about 20 volt? Compact? Driver? Dewalt? Makita? You could even get into key features such as lightweight, or higher capacity batteries.
Look at the different types of blenders, different name brands. The wide variety of electronics and accessories. Mixers, pots and pans, toys... goes on forever.
And...
Once you start thinking with this frame of mind, you'll soon see that there are almost endless opportunities, right at your fingertips. Literally. I don't think any human could cover all the combinations or possibilities in their lifetime.
They say Amazon alone has over 200 million products for sale. Think there might be some very narrow niche products there to promote? Oh you bet.
And this could be used for just about everything you can think of. It doesn't have to be physical products from Amazon, I only used them as an example. Could be internet marketing courses, ebooks, software, wordpress plugins, and so much more.
Now, if you want to do this right, with the best chance of success, it would be wise to research the competition. While sub, sub, even sub niches will likely have much lower completion, you can't assume, so do your home work.
Some people would argue that small narrow niches have a lot less traffic. While that is almost always true, on the other hand that traffic should be much more interested in exactly what your promoting.
When I use to do only affiliate marketing, I noticed time and time again, those little niches always had so much better conversions. Best yet, I found my ranks in the search engines up towards, if not, at the very top of the first page.
This is another key point, you make more money with much less traffic.
Who doesn't want that?
But I really want you to get the point, that you need to really narrow it down. Don't pick just dog collars for example, pick pink dog collars, or spike dog collars. Better yet, what about "Pink Spike Dog Collars"?
Several years back I remember someone who was making nice sales off specific sized subwoofers for cars.
Once Again... Endless Opportunities.
Last year a friend of mine wrote up a blog case study, about building a niche website dedicated to an amazon physical product and its related items. Sorry I won't give away his product line because people tend to be lazy and would rather copy. But he simply picked a specific electronic product, built a site, added some content, did a little promotion, and he has sales coming in. Last I heard he wasn't able to retire on its earnings, but it made money and that is the important part.
Listen, I am not saying you're going to get rich with this type of focused niche marketing. I don't want to give people the grand illusion that it's going to make them a millionaire by Tuesday.
But...
If you build enough smaller niche sites, you could make some good cash. For some folks, it might be the first money they make online.
Also, you have to remember, that every sub, sub niche you try may not be a home run, some might be a flop. But if you try enough, you will find one that bring in the sales. And don't give up when one doesn't work. Just move on to the next. Though you need to give it a fair chance before you chalk it up as a loser.
I've tried alot of things online since 1998 and some of them did not pay off. But I persevered and tried enough that I found the gems that did work. In my opinion, that is a powerful trait of successful people, and I am sure you know this. You keep going, learn from your mistakes, and you will find success, and profits in this case.
The other key aspect I've hinted at...
With smaller niches, there is usually much lower completion, which means it could be easier to rank in the search engines, and keep those ranks longer. Less competition on social media as well. If your do physical products, sites like Pinterest could help you make a killing.
Over the years I've seen people do it time and time again, trying to attack a niche like "Weight Loss". To general and way too much competition. But, that just goes to show, there are a lot of little ones prime and wide open for you to grab the cash. Let other people battle it out in the big (and often saturated) niches. I say no thank you.
BONUS TIP: What if you go after narrow niche high priced products? Bigger commissions. Now we are talking. HINT: You can sort Amazon products by price. Get it? Good.
As always, I never ask anyone to take only my word, test it yourself.
What do you think? Do you have something to add?
"A niche market is the subset of the market on which a specific product is focused. The market niche defines as the product features aimed at satisfying specific market needs, as well as the price range, production quality and the demographics that is intended to impact. It is also a small market segment."
One of the biggest struggles marketers have, especially new ones, is picking the right niche or market. We see the question almost every day, "Which niche should I get into?"
There are the usual answers, ones I've given myself, such as get into something you know about, or something your passionate about. Both are not exactly bad advice. But there is a slight lack, a missing piece.
Or a way to add some gas to the machine.
As per the previous definition, a niche market is a subset or the marketing of a specific product.
That's the key, and where much of the profits can be. Something many marketers miss or they do not dive deep enough.
I am talking about getting very focused and really narrowing it down.
Let's take some examples...
How about Car Audio?
You could try marketing car stereo's and you "might" have some success. I say might because it's quite general and since it's so general, and a large segment, you'll probably be up against some big competition.
But....
What is we narrowed it down? What about Subwoofers? Midrange speakers? Speaker crossovers?
Better yet, what about name brands? Pioneer, Sony, or JVC?
A surfer searching for car stereo, could be looking for a wide range of products. Could be any one of a 1000 or more different products. But someone looking for Polk 5-1/2" car speakers, well you've just given them exactly what they want. What do you think your chances of getting the sale are, if you're promoting exactly what they want? Much improved to say the least.
Let's try another example...
Cordless drills. Pretty general, right? How about narrowing it down. What about 20 volt? Compact? Driver? Dewalt? Makita? You could even get into key features such as lightweight, or higher capacity batteries.
Look at the different types of blenders, different name brands. The wide variety of electronics and accessories. Mixers, pots and pans, toys... goes on forever.
And...
Once you start thinking with this frame of mind, you'll soon see that there are almost endless opportunities, right at your fingertips. Literally. I don't think any human could cover all the combinations or possibilities in their lifetime.
They say Amazon alone has over 200 million products for sale. Think there might be some very narrow niche products there to promote? Oh you bet.
And this could be used for just about everything you can think of. It doesn't have to be physical products from Amazon, I only used them as an example. Could be internet marketing courses, ebooks, software, wordpress plugins, and so much more.
Now, if you want to do this right, with the best chance of success, it would be wise to research the competition. While sub, sub, even sub niches will likely have much lower completion, you can't assume, so do your home work.
Some people would argue that small narrow niches have a lot less traffic. While that is almost always true, on the other hand that traffic should be much more interested in exactly what your promoting.
When I use to do only affiliate marketing, I noticed time and time again, those little niches always had so much better conversions. Best yet, I found my ranks in the search engines up towards, if not, at the very top of the first page.
This is another key point, you make more money with much less traffic.
Who doesn't want that?
But I really want you to get the point, that you need to really narrow it down. Don't pick just dog collars for example, pick pink dog collars, or spike dog collars. Better yet, what about "Pink Spike Dog Collars"?
Several years back I remember someone who was making nice sales off specific sized subwoofers for cars.
Once Again... Endless Opportunities.
Last year a friend of mine wrote up a blog case study, about building a niche website dedicated to an amazon physical product and its related items. Sorry I won't give away his product line because people tend to be lazy and would rather copy. But he simply picked a specific electronic product, built a site, added some content, did a little promotion, and he has sales coming in. Last I heard he wasn't able to retire on its earnings, but it made money and that is the important part.
Listen, I am not saying you're going to get rich with this type of focused niche marketing. I don't want to give people the grand illusion that it's going to make them a millionaire by Tuesday.
But...
If you build enough smaller niche sites, you could make some good cash. For some folks, it might be the first money they make online.
Also, you have to remember, that every sub, sub niche you try may not be a home run, some might be a flop. But if you try enough, you will find one that bring in the sales. And don't give up when one doesn't work. Just move on to the next. Though you need to give it a fair chance before you chalk it up as a loser.
I've tried alot of things online since 1998 and some of them did not pay off. But I persevered and tried enough that I found the gems that did work. In my opinion, that is a powerful trait of successful people, and I am sure you know this. You keep going, learn from your mistakes, and you will find success, and profits in this case.
The other key aspect I've hinted at...
With smaller niches, there is usually much lower completion, which means it could be easier to rank in the search engines, and keep those ranks longer. Less competition on social media as well. If your do physical products, sites like Pinterest could help you make a killing.
Over the years I've seen people do it time and time again, trying to attack a niche like "Weight Loss". To general and way too much competition. But, that just goes to show, there are a lot of little ones prime and wide open for you to grab the cash. Let other people battle it out in the big (and often saturated) niches. I say no thank you.
BONUS TIP: What if you go after narrow niche high priced products? Bigger commissions. Now we are talking. HINT: You can sort Amazon products by price. Get it? Good.
As always, I never ask anyone to take only my word, test it yourself.
What do you think? Do you have something to add?
