Niche Marketing
There are two different ways of ideas about niches. One takes
the target audience into consideration first, which is the
product centric model, while the other takes the product into
consideration first, the audience centric model.
Actually, both of these ideas are identical but one of them will
allow you to have more advantage. So which one is that? The
product centric based idea. The product centric model carries a
time-tested rule of marketing: if you want to get into profit
quickly, sell what people are already buying! There is plenty of
information about things that sells well. Niche marketing is
just a job to identify the gaps in the market which haven't got
dug yet, and build a business around it.
If you realize, books account for a huge portion of online
revenue. Nevertheless, how do you grab a slice for yourself
without competing against the huge companies like Amazon.com?
The answer is simple, you specialize. No matter how huge Amazon
is, sometimes you still wouldn't be able to find books that you
want. What types of books are people searching for that they
can't find through the mainstream booksellers?
Could you become the authority and number one resource for books
on a particular hobby? How about underground' titles like "The
Anarchist's Cookbook"? That's what the owners of
http://www.loompanics.com have, controversial and "hard to find"
title books.
Another way you can build a niche around hot-selling products is
to add some spice by customizing or personalizing them. In
summary, the product-centric model is based on giving a twist to
existing markets and trends.
On the other side, an audience centric model takes a subject
matter, special interests or information more importantly first.
Basically, you start off with no idea on what to sell. You don't
have a product in mind. You only know your target-audience.
The great thing about the audience-centric approach is that you
can create whole new markets out of thin air. This is the model
preferred by most e-book authors and information marketers.
So where do we start? You need to assess your own interests and
strengths before you begin, especially if this is your first
time starting a business. What are you already interested in? Do
you have any background or expertise on a particular subject?
Start with what you know, you'll have more advantage because
your prior knowledge will allow you to narrow down your niche
quickly. In other words, you already have a good idea of how the
topic breaks down.
If your passion is music, for example, you know there is an
almost endless supply of potential products and potential buyers
in areas as diverse as: * Instruments/instrument
sales/instrument repair/vintage instruments * Techniques and
lessons on how to play a certain instrument * Memorabilia -
shirts, hats, tickets, stickers, posters, autographs * Audio
production, recording, CD labeling, booking, promotion etc
You also know that any or all of those can be tailored towards:
solo artists, bands, fans, managers, engineers, agents and the
list go on.
Now that's a great thing for you, but what if that's not you're
interested? What if you are just not into creating a business
out of your hobby, or you don't feel any passion for your
current expertise?
The good news is: It's Fine! You don't need to give up hope or
bang your head against the wall for ideas. You will however need
to do some extra work. This brings us to the second reason I
suggest taking stock of your strengths.
Here's a secret about most internet marketers. Ready to know?
Here it is: Most of the famous niche marketers you've heard of
create products for niches they know absolutely nothing about.
How do they do that? Easy, they either hire the research and
writing to someone else, or hunt down an expert for an
interview, just a combination of outsourcing and "branding".
Also, this type of marketer has his or her own set of "reasons
why" for motivation.
They include: * Money * Pride of ownership * Love of the
creative process * Need for variety and breadth, rather than
depth
It doesn't matter as much to this type whether the market
personally interests them. His or her goal and passion is to
hunt down as many overlooked niches as possible, dive into them
quickly and start profiting.
So, if this sounds like you, you're in good company! Once you
learn the basics of niche research, you'll have your pick of
dozens of potential business ideas.
About the author:
Mark Flavin Is An Expert On Making Money Online & All Work From
Home Topics. Find Out How Mark Makes His Living Online At
http://markflavin.com/index.html
Written By: Mark Flavin