Niche marketing is the practice of finding and exploiting small, but profitable market segments and designing custom-made products or services to serve them. The theory holds that large corporations are not able to enter into certain market segments due to existing economies of scale. The big players are simply not able to squeeze out enough profit from these niches to justify applying the resources needed to work it, therefore; they just leave them alone. This my friend is your space to dominate.
A niche marketer is somebody with entrepreneurial ability. He can spot a trend, and use his skills to quickly create a product and website to take
advantage of the demand within that small space and monetize the opportunity properly. He may end up owning tens of sites or even hundreds of sites. Each site may bring in only pocket change in terms of income, but the sum of all of those multiple streams of income add up to produce a significant cash flow which for the most part runs on auto-pilot.
How To Get Yours
The first thing that you need to think about is if you have access to the tools and technology that support the many web presences that you need. You may not need a ton of new domains just yet, but you will need web space sufficient to the task. You will need the time and the tools to quickly throw up a credible web page, and you will need the transaction processing technology (aka: shopping cart software) to make sales. Some niche marketers opt to sell only Clinkbank products because Clickbank does all of the transaction processing for them. Others choose to do exclusively affiliate marketing for the same reason. There are also niche marketers that sell their own private label goods, and there are those that sell dropshipper goods. The thinking for them is that they do not tie up their own capital in inventory, and they do not have to spend time on fulfillment. They can invest all of their time in actual marketing which brings in sales.
Finding a good niche market to work can be challenging, but with our help you can be at in no time at all. After you have decided that you have the time, tools, and software to go forward, you will want to decide on your monetization method. Perhaps you will start with affiliate marketing. If you do, then you have to make sure that there are sufficient suppliers of goods and services within that market that you can partner with. You can find affiliate programs by joining large affiliate marketing services like Commission Junction, or you can simply Google the product or service with "+ affiliate program" appended to your search query.
To find a good under served market niche try using Wikipedia. You can begin by compiling a list of obscure hobbies. Wikipedia can find many of these for you. Let's provide you with an example of this to make it easy to understand. By studying one very esoteric hobby called "circuit bending" we can see how this works. Circuit bending is reported to be the "creative, short-circuiting of electronic devices" in order to create something new. Circuit bending usually involves dismantling an electronic device and adding components such as switches to it that alter the circuit and create new effects, mostly sounds. The emphasis is on spontaneity, novelty and randomness. You can say that circuit bending is to electronics as low-riders are to cars.
I do not know what the market is for circuit bending goods and products, but I can tell you how to find out if it is worth going after. All you need to do is use any of the good keyword analysis tools available on the web. By examining the number of monthly searches you can find out. Assuming that this looks like a respectable niche, then the next step would be to locate sources for electronic components that you want to do business with that also have affiliate programs. I am quite convinced that you would find plenty, and I would not discount the possibility of finding a number of them that drop ship as well! So, get out there and start mining that data. Your niche is waiting for you.
About The Author:
Read more:
Get Niche Quick!: The Definitive Guide to Marketing Your Business on the Internet
This article was written by Mark Soveign who owns and writes for Wertheim Communications LLC as well as Mooker.Com