Niche Marketing – Explanation And Strategies

Niche Marketing is actually specializing in one small segment in a business.  Say, if you deal in silver, you could be dealing in silver jewellery and that is your niche.  Now you could specialize further and go into silver ear rings and studs.  This is further defining your niche.  The fact is that if you focus on a niche with single mindedness, you can make a lot of money. Niche Strategy Advantages

When we discuss niche, we are focusing on a specific area, be it in product or service.  For example, Liposuction is a niche in the realm of plastic surgery.

So how do we select a niche?  When we have to select a niche, we need to focus on a area or product which either has a huge volume of business so that we can make money on turnover, or a small volume of business but with huge profit margins.

One of the biggest advantages in being a niche player is that you can quickly reach a very high position in your niche.  A niche normally has very few players, and so the competition is less.  This can be either because of the geography of the niche, or because of the qualification required.  If you are into liposuction, for instance, there are very few doctors who are qualified to be plastic surgeons.  Among them there are a lesser number that are involved in liposuction.  This means if you have the expertise and the capability, you can quickly dominate the niche. Niche players quickly start getting media and news publicity since the segment is unique and is considered newsworthy.

When we talk about niche on the internet, we come to a very unique problem.  You would like to focus on one small segment to the exclusion of others.  This is easy to say and difficult to implement.  Due to the plethora of options on the web, the temptation to deal with other products which do not belong to your desired niche is immense.  Therefore you need to stop getting greedy, exercise control and once that you have decided what your niche is, you should simply stick to it.

Once that you have decided that you are going to deal with just one product and you are going to build your reputation as a dominant player in that product, you will find that the internet makes it easy for you.  You can write informative articles on your niche and post them on article websites.  These articles must offer information, be serious and businesslike.  You can even write for the newspaper and other recognized print mediums like periodicals, weeklies etc.  These are not advertisement, they could be free or, if you are good, you could even be paid for them.  So you get to advertise your business and your self in a respectable way.  This is a bonus of playing the niche strategy.

The internet is hungry for content.  There are article directories, blogs and online newsletters that always need content.  Keep submitting your articles.  These will have a worldwide reach.  This is the main advantage.  Soon you will be known as a credible source and become an authority in your niche.

The advantage of being a niche player are many, and you should see success in no time.

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