Part 1 - "Niche Marketing 101"
By Joe Garris
Maybe you thought your chance to make money online was GONE?
Or the only people that were making tons of profits were selling "Make
Money Online" products?
Well, just in case you have not been around, I'm here to tell
you that there is a revolution rapidly approaching that could
literally change your financial future forever.
It is not some hot trend that will
come and go in a year or so. It is not an area that you have
to study for years before you can begin to reap the rewards.
The principles are based on sound business concepts that have
been taught and proven for years by some of the most successful
marketers in the world.
What I'm referring to is Niche Marketing
(or Market Segmentation)
After you complete this 6 Part Mini Course, you will have the
knowledge and tools you need to find niche ideas, evaluate them,
develop products around them, profit from them and then duplicate
your success in other niche markets.
What is a niche market anyway?
A popular way of defining the term “niche market” is
simply groups with similar interests & needs. I like to create
a picture in my mind so I think about a niche this way. Imagine
fishing in a SMALL pond packed with HUNGRY fish and you
have the bait that is SPECIFIC TO THEM – MEANING THEY LIKE
YOURS THE BEST! That is a niche!
Mass Marketing on the other hand would be like fishing
in a LARGE pond packed with a ton of fish SPREAD throughout
the Pond that are OVERFED and ALL THE BAITS ARE THE SAME GIVING
THEM THE CHOICE OF MEALS. Obviously this market is
a lot more competitive thus making it harder for you to get
your offer in front of the buying segment.
Why Should You Consider Niche Marketing?
In short, you should consider Niche Marketing unless you are
a large corporation with deep pockets. If you are a large corporation
then by all means, stay with the masses...PLEASE!
Most large corporations ignore the niche markets because they
are not trying to make an extra $1,000 to $15,000 per month like
many small business owners and entrepreneurs.
Instead, they are looking to make extra
millions per month.
This is great news for us because we don't have to compete with
the advertising budgets of these large corporations.
It is also pretty easy to find potential customers in niche
markets. I will go into more detail about this in another part
of the course but simply put, People that have the same passion
usually read the same things and hangout at the same places.
Just in case you were wondering, here are some examples of Niche
Markets - some larger (and weirder) than others:
Winter Camping Enthusiasts
Motor Coach Owners
Carpet Cleaner Business Owners
Ferret Owners
Pyrographers - That's Wood Burning
Cocker Spaniel Owners
Nude Yoga - I really want to comment on this one but my wife
says NO!
Scrapbookers - Much larger Niche than it used to be
Before we go any further, here are the 4
most important things you
need to know before deciding which "niche market" to
exploit first:
1. Is the market easily defined and reachable?
Where do they hangout?
What publications do they read?
Do they have clubs or events that brings them together?
Are they looking for information online?
2. Is the market small enough that there
are not many competitors but
large enough to allow you to make a profit?
You want a small pond but it must have enough "fish" to
make it worth your efforts. We will show you in Part 3 how to
find out if the "fish" are biting.
3. Will the market actually have and spend money?
Do they actually buy stuff? A good sign is if there are sites
selling products for the market. In part 4, we will show you
the most profitable products to sell to your niche market - and
it ain't physical products! But, if
physical products are being sold, this is a good
sign and these businesses are potential joint venture
partners.
4. Does the group have ridiculous
amount of passion for the hobby or topic!
Do they eat and sleep the hobby?
You are looking for prospects that are so passionate that they
must have all the information
related to their subject.
A great example....GOLFERS! We have to have the newest equipment,
gadget and every golf magazine just in case there is that one
hot tip that can change or game and allow us to actually beat
our golfing partner next time out.
That is it for Part 1 of this "Think Niche and
Grow Rich" Mini-course.
In Part 2 (which you will receive by email soon), I
will discuss the secrets to FINDING Profitable Niche Markets.
These techniques will help you to find
markets that are hungry for information. If you
don't have any niche market ideas, after part
2, you should have more than you can handle.