Fast growing amongst the popular terminology being thrown around by online marketers is the term Niche Market. It would appear to be dominating their every conversation and for good reason. It is actually where the money is.
So, for the newbies amongst us, what is niche marketing? Can we eat it, buy it, use it up or make the ecology green with it?
So let's see what its isn't. - It isn't something you can buy - It isn't something you can make ( well not directly ) - It's not a new job opening so don't ask your boss for a transfer - And as usual, the hordes of people taking a stab at it are nearly all probably going to fail.
Niche marketing example
Here is my own quick definition : Niche Marketing is an examination or sales analysis of a very narrow marketing segment that is being under-served by the competition. Let's see what this looks like.
Marketing to those that buy - Basketball shoes. Niche or not? Not - Michael Jordan running shoes. Niche or not. Not (What did that surprise you?) - Michael Jordan HighTop running shoes. Niche or not? Feeling the sun yet ? - Michael Jordan HighTops signed by the great one himself . Niche or no Niche? Jackpot !
Congratulations on accurately identifying a niche market area. And it really was a niche, not that broad definition or a marketplace need that we may have had in mind earlier. So, like most others, we could use some extra cash, whats the next move? Do we buy inventory now before the rush?
If you want to lose your shirt go ahead! That was a joke, don't do it. Please don't think I slipped and just told you about my huge money maker and have now decided to take it back. Further from the truth we could not be. We have an unproven premise here.
The prior example was just that. An example of the narrowing market segment that a niche market might end up in. That wasn't even the process used to find a niche market so please don't jump on that one. Even if half a dozen sports friends asked me for that product next week, I would neither stock nor drop ship this product for reasons that you will soon know.
Was that an inaccurate Niche Market example ?
It might be and maybe it wasn't but we don't know that yet. When doing this kind of research one has to remind oneself that people use specific key words when searching for a product or service. Only the search engines, search engine tools ( like wordwatcher ) really know what is being searched for. And unfortunately only niche marketing software tools can give one the market intelligence needed in order to make a business decision.
If we know how many people are searching for the product and how many competing websites there are, isn't this enough information to quantify this as a niche product? Wasn't this what groups traditionally used to make their decision in the past? Well, it was, but its not enough anymore. There are tools out there now that can make a newbie 10 times more efficient and powerful than the traditional analysis used just 6 months ago.
Perhaps you are experienced and know that this was not the process used to find niches. Perhaps you are still using the tools inside google adwords, or google trends or wordwatcher. They are time tested and have worked wonderfully for the past few years but a newbie using a niche market tool and having little or no knowledge of the existing search tools from Google could blow you and I out of the competitive water in less than 5 minutes.
A software based Niche tool can be an extraordinarily powerful piece of arsenal for someone investigating this area. Most tools gave you competitiveness based on the number of sites that had the keyword in them, but most of us know that our search phrase is already on millions of websites but just a few hundred of those might be competitively attempting to get traffic based on that keyword. A Niche market tool, intuitively understands this and in this specific area searches for keywords in the titles, urls and domain names and comes back with a ranking. It can frequently open clickbank and other affiliate sites with your exact keywords to find affiliate products. Sometimes, these tools also understand article marketing and may directly find you an article for reprint.
Finding Niche Products is now so easy, even a newbie can do it. It does not require the in-depth type of intelligence that former adwords professionals used to use. Follow the links back to my site for lists of possible tools that you can use. - 16928
So, for the newbies amongst us, what is niche marketing? Can we eat it, buy it, use it up or make the ecology green with it?
So let's see what its isn't. - It isn't something you can buy - It isn't something you can make ( well not directly ) - It's not a new job opening so don't ask your boss for a transfer - And as usual, the hordes of people taking a stab at it are nearly all probably going to fail.
Niche marketing example
Here is my own quick definition : Niche Marketing is an examination or sales analysis of a very narrow marketing segment that is being under-served by the competition. Let's see what this looks like.
Marketing to those that buy - Basketball shoes. Niche or not? Not - Michael Jordan running shoes. Niche or not. Not (What did that surprise you?) - Michael Jordan HighTop running shoes. Niche or not? Feeling the sun yet ? - Michael Jordan HighTops signed by the great one himself . Niche or no Niche? Jackpot !
Congratulations on accurately identifying a niche market area. And it really was a niche, not that broad definition or a marketplace need that we may have had in mind earlier. So, like most others, we could use some extra cash, whats the next move? Do we buy inventory now before the rush?
If you want to lose your shirt go ahead! That was a joke, don't do it. Please don't think I slipped and just told you about my huge money maker and have now decided to take it back. Further from the truth we could not be. We have an unproven premise here.
The prior example was just that. An example of the narrowing market segment that a niche market might end up in. That wasn't even the process used to find a niche market so please don't jump on that one. Even if half a dozen sports friends asked me for that product next week, I would neither stock nor drop ship this product for reasons that you will soon know.
Was that an inaccurate Niche Market example ?
It might be and maybe it wasn't but we don't know that yet. When doing this kind of research one has to remind oneself that people use specific key words when searching for a product or service. Only the search engines, search engine tools ( like wordwatcher ) really know what is being searched for. And unfortunately only niche marketing software tools can give one the market intelligence needed in order to make a business decision.
If we know how many people are searching for the product and how many competing websites there are, isn't this enough information to quantify this as a niche product? Wasn't this what groups traditionally used to make their decision in the past? Well, it was, but its not enough anymore. There are tools out there now that can make a newbie 10 times more efficient and powerful than the traditional analysis used just 6 months ago.
Perhaps you are experienced and know that this was not the process used to find niches. Perhaps you are still using the tools inside google adwords, or google trends or wordwatcher. They are time tested and have worked wonderfully for the past few years but a newbie using a niche market tool and having little or no knowledge of the existing search tools from Google could blow you and I out of the competitive water in less than 5 minutes.
A software based Niche tool can be an extraordinarily powerful piece of arsenal for someone investigating this area. Most tools gave you competitiveness based on the number of sites that had the keyword in them, but most of us know that our search phrase is already on millions of websites but just a few hundred of those might be competitively attempting to get traffic based on that keyword. A Niche market tool, intuitively understands this and in this specific area searches for keywords in the titles, urls and domain names and comes back with a ranking. It can frequently open clickbank and other affiliate sites with your exact keywords to find affiliate products. Sometimes, these tools also understand article marketing and may directly find you an article for reprint.
Finding Niche Products is now so easy, even a newbie can do it. It does not require the in-depth type of intelligence that former adwords professionals used to use. Follow the links back to my site for lists of possible tools that you can use. - 16928
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