If you’ve been surfing the internet long enough, you may have encountered the term “Niche Marketing” over and over again. If this is a foreign term to you or may have not come up with a clear definition of what niche marketing is all about, I’ll do my best to explain to you as easy and painless as possible.
Before we move on, generally, niche marketing is used by small business owners, sole proprietors, bloggers or website owners, who have small resources at their disposal. They can’t compete with large scale companies so they turn into this marketing strategy to lessen the competition and find their targeted audience with the hope of gaining streams of income.
So let’s continue, I won’t dwell in any technical definitions or terms like subsets in the market, it would be more confusing that way, let’s just make it simple and short. Let’s define what is a niche, the word niche simply means specific; it pertains to specific products, services or resources that you can promote and sell to their specific targeted audience. Instead of convincing everyone to buy a “specific” real estate in the tropical region, you will only focus to “specific” people who are interested in buying them, like retirees. Let me show two examples (these are for illustrative purposes only).
Example No. 1
If you want to sell books or want to put up your own online bookstore, you can’t easily compete with amazon.com or barnesandnoble.com. Although competition is difficult, you may still be able to acquire a small share in the market by finding a niche or a specific product. The product here are books, it’s very general, so let’s be specific (niche) what kind of books are you passionate about? Let’s say books about blogging because you are a blogger. By being specific, you can be more focused, and because you are a blogger, you can easily understand the needs, wants and demands of your customers. With this scenario you can now develop marketing strategies to easily drive customers to your website or blog, which is selling specific books about blogging.
Example No. 2
You are planning to put up a website or blog, you want to monetize it and earn from it. Your targeted audience are people who love pets. Now pets are very general, let’s say you have knowledge about dogs and want to talk about dogs, well, still not specific. Go further, you may want to focus with the dogs listed below.
Upon doing this, you have successfully chosen a set of specific topics, from these you can now choose your niche market. Are you going to create one website or blog discussing all five types of dogs? Yes you may, but if you can, it would be better to put up one website or blog for each and promote them separately. You will be more focused, you can target a specific audience and you can sell specific products to each of them more easily. And if you are using AdSense, with five websites or blogs working for you, the possibility of earning more from it will be higher. So whenever you encounter the term niche marketing again, just remember the plain English word specific.