If you’ve been online for more than 15 minutes you have probably heard about “niche” marketing.
You HAVE to be involved in niche marketing, they say, to make the really big money.
But the people who talk loudly about how their product will help you succeed with niche marketing often overlook one simple, but powerful, question.
What IS niche marketing and how is it done?
Niche marketing simply means targeting your marketing to a specific group of people who have a common need.
That might be people who like genealogy. It might be people who like to play tennis.
Or it could be people who are left handed or are Baby Boomers.
All of these are niches, and profitable niches.
Niche marketing works wonderfully well when done right. That’s why I recommend you master niche marketing.
And I know you can do that!
Now for some good news about niche marketing.
You understand the basics of niche marketing right now.
Do you doubt that statement?
If yes, let’s test your knowledge of niche marketing right now.
Here’s the test …
Let’s say that you are selling golf products.
Now let’s say that I will give you a full page ad in either Golf Digest (a magazine about golf with 1.6 million subscribers) or Bon Appetite (a magazine about food with 1.5 million subscribers)
Here again are your choices. You are selling golf products and I will give you a free full page ad in …
- Golf Digest – A magazine about golf with 1.6 million subscribers
- Bon Appetite – A magazine about food with 1.5 million subscribers
WHAT’S YOUR CHOICE?
If you chose Golf Digest you are right. AND it proves that you have a natural sense for niche marketing!
Think about this for a moment. WHY did you choose Golf Digest?
Because it’s about golf, right?
You intuitively knew that it was smarter to run your ad to people who are already interested in golf that those who have expressed an interest in food.
KEY POINT 1 – Niche marketing works best when you match the product you are selling to a group of people who have ALREADY EXPRESSED AN INTEREST in that product
One part bears repeating.
Target those who have already expressed an interest in the topic that matches the product you are promoting.
But what about this fact — golfers eat food too!
Some even eat too much food.
But you quite naturally chose Golf Digest instead of the food magazine to sell your golf products.
The reason you did that was common sense.
Common sense says that people who read Golf Digest will respond better to golf product offers than people who read a magazine about food.
Even though people who play golf eat food too.
KEY POINT 2 – Using common sense is the starting point for most successful niche marketing.
So now you know what niche marketing is and you know that you have a natural sense for what to do when it comes to niche marketing.
Next question – should you get involved in niche marketing?
My answer is yes. Even though we are not in the same room I can tell you that almost everyone reading this should do all they can to succeed at niche marketing.
I believe there are four reasons …
- Most of the work is done for you. You don’t build a niche, you discover a niche, observe their needs and then offer them products to meet those needs. So, less work!
- You can’t hit a target you can’t see. Because niches are so well defined you can see them clearly. You can find advertising sources easily in order to get your message to them.
- People in niches are incredibly loyal. Once you meet the needs of people in one niche they will buy from you again and again.
- Niche marketing is efficient – rather than having to learn a new marketing process over and over you can duplicate what you do in one niche in many other niches.
Let’s explore the last point more. This is incredibly important.
To master any niche you are going to need to learn how to reach them (usually with advertising) find great products to offer and build a simple sales funnel.
Don’t worry - a sales funnel is easy. It’s a squeeze page, email follow up messages and making the right offers.
All of that takes a bit of learning (all good things do) but here’s the beauty part.
Once you learn to do these things in one niche you can easily repeat them in as many niches as you want!
And that my friend is the power of niche marketing.
Look at the math for a moment.
If you enter 9 niches and make only $475 per month from each niche how much money is that?
That’s $51,300 per year!
Best of all, almost all of that money can be earned automatically.
See why I say you need to master niche marketing?
You may be asking “How long will it take to enter and succeed in nine niches?”
No one can say because that depends entirely on your efforts.
But what can be said is this — once you know the process of setting up a basic funnel and doing niche research new niches can be entered in days, not weeks or months.
Let’s summarize what we covered today.
1. Niche marketing is the process of offering products for sale to people who have a common interest.
2. You don’t create niches, you find them by observation and basic research.
3. Matching the advertising source to the product you are promoting is very important in niche marketing.
4. Using common sense will help you match the right traffic source to the products you are promoting.
5. Niche marketing is powerful, profitable and something I recommend you master.
In our next issue we will cover five keys to niche marketing and then go on to cover how to master niche marketing.
Niche marketing is powerful. It can set you free financially and from a time perspective too.
And that is a beautiful thing indeed!