Nicheology-What is a
Successful Niche Market
By Mark Bishop
Niche marketing has proven to
be a common path to success for many small businesses and
indeed many novice Internet marketing start ups, and there's a
very simple reason for this, no small business can be all
things to everyone, in fact even the larger businesses will
struggle to fulfill the needs of a whole market. If you live in
the UK take a look at the state of the retailer 'Woolworth's',
a classic example of a relatively small in comparison store
spreading itself to thin and ultimately leading to its
demise.
Niche marketing is the web
buzz word of the moment but it's by no means a new phenomenon,
niche marketing has been around forever on and off-line,
however with the complete saturation of all large markets on
the web by the big boys there really is very little room for
the newbie to profit, or in fact make any sort of progress
whatsoever.
Picture this, you spend six
months researching your digital product, you sweat blood and
tears putting it all together to the highest possible standard,
you research your keywords, you build and optimize your site.
Your first launch draws closer and you feel the excitement
growing in anticipation, you spend the next week building
links, posting press releases and trying to build a rapport
with possible joint venture partners. Today's the day, your
site goes live, and your about to start building your on-line
fortune, aren't you?, so where are the orders and why is your
site ranking on Google about 16 million?.
Lets face it unless you can
find some really heavy hitting affiliate JV partners, your new
venture is all but dead in the water, yes you can carry on
building links, writing and posting article after article, you
could spend all of your free time in related forums trying to
build recognition, but at the end of the day you don't need me
to tell you your product won't sell in numbers, sure you'll
make sales but not enough. There's no way you can compete in a
saturated market, and there's not a cat in hells chance of you
getting any reasonable amount of organic traffic, you could
even try buying targeted traffic (PPC), but ultimately you will
probably fail unless you get really lucky.
So this takes me back to why
you should look to build your web marketing business around a
profitable niche, and learn to capitalize on these unmet needs,
a small web based company is ideally suited to find and
dominate a small but profitable niche market, where as a large
company is just not bothered about serving a smaller
community.
So What is a
Successful Niche Market?
Well two good examples of
off-line successful niche businesses are McDonald's and
Starbucks..Why?,
McDonald's carved themselves a successful business niche out of
a huge restaurant industry, by catering for people on the move
or in a hurry, they offered fast food to a busy USA (well it
was fast back then anyway). McDonald's capitalized on a
seemingly small niche and dominated it. Starbucks did the very
same thing, who would of thought you could build a
multinational business on nothing more than coffee?.
So you can see from these
examples exactly how powerful niche marketing can be with the
right research and ambition, lets take a look at a couple of
examples just to get your mind in the right frame, I know I
really stumbled to think of anything when I started, so here
go's.
Take World of Warcraft (the
popular on-line game), now I'm sure you've seen WOW used as an
example so many times before, but let me put a spin on it for
you, lets just assume that you did indeed come up with world of
warcraft as an idea for building a niche market. WOW, being a
small part of the huge gaming industry seems like a great
idea..Right?, so you check it out only to find saturation, or
at least to much competition in the niche, now do you drop the
idea and start again?.
The answer is
NO, (well not for me anyway)..and here's why not,
world of warcraft is a market of its own, so what I tend to do
next, providing my research backs me up is start dissecting up
the game into smaller modules, carry out some simple keyword
research and start marketing to one of these smaller segments
of the game, a niche market within a niche market if you
like.
Perhaps you have an interest
in dogs, and perhaps dog allergies grabs your attention, now
dog allergies is by definition a niche market however if you
want to find a niche within a niche you could for example
concentrate on one particular breed of dog and its allergies,
or maybe a particular allergy and how you might relieve the
symptoms (this is one that I'm working on myself, so I won't
elaborate to much).
So there you have it,
basically you find a small & relatively untapped market and
serve them with what they want to buy (finding out what they
want to buy is pretty easy, take a look at my other
articles).
Niche marketing in my opinion is the best place for real people
like you and me to build a successful web marketing businesses,
try not to fall for all the other bull**** out
there.
I hope you found this niche
marketing article useful.
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