If you want to be
efficient with your marketing efforts, you have to target a specific group of
people who will more than likely buy from you. The best way to find people like
this is by doing "niche marketing". A "niche" is simply a small
portion of a larger target market that you can market to and get higher
conversion rates.
This is the best and
fastest way to make money with your website. Hopefully you aren't a "me
too" marketer, because me-too marketers don't prosper. You need to be
targeting one specific segment of a marketplace if you want to be successful.
And in this lesson, I give you a few reasons why you should do so. In fact,
here's the first reason you should do niche marketing:
1) You won't lose a
lot of money
To operate in a big,
general niche, you have to invest in heavy advertising. You would have to
advertise in major magazines, newspapers, high traffic website, and high pay
per click costs. As a generalist, you will lose a ton of money right away, and
it may take you years before you finally make your money back and break even.
But in a small niche,
you don't have to advertise heavy online. There will be little niche sites with
a lot of user interaction that you can advertise on. So you won't lose a lot of
money, plus... you probably will make your investment back very quickly. It
won't take long for you to profit. Here's another reason to do niche marketing:
2) You can sell higher
priced items
This is one of the
best reasons to do niche marketing. As a generalist, you would probably be limited
to selling a product for $30. But in a niche, you could probably sell the same
item for $100 - just because of the exclusivity. So you make more money without
doing more work. You should be excited about that.
So if you see that
someone is selling a wide variety of laptops on eBay for a relatively low
price, you could start your own website and only offer one brand name of
laptops on your site. You could offer only Sony laptops, Dell, HP, Acer, and
etc. Instead of being a generalist like the person on eBay, you could operate
in a niche, and charge more because people will view your site as the "go
to" site for specialized laptops online.
See how this works?
Niche marketing is very important, and it's something that you need to be
implementing in your business today. Don't skimp over this aspect of marketing.
The more niche specific you get, the more you'll be able to have the success
that you're looking for. Your competition will be low, and you won't be forced
to exit a marketplace because it's saturated with competitors.
Take these niche
marketing tips and use them in your online business today. Remember that you
will profit more, and will become a well-known figure in your niche. Plus,
there are many more perks.
Good luck with
marketing online.
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