The Importance of Isolating a Niche Inside a Broader Niche Market
Niche marketing is intentionally focusing your marketing efforts on a targeted portion of a much broader market.
Highly targeted segments of a market are known as niche markets.
It's about creating or finding a product that targets a specific segment of a broader market place.
Its the process of finding market segments that are smaller but are potentially profitable nonetheless.
I will typically chase a segment that has 30,000 or a little more that I can market to.
Now some of course have done very well with much smaller segments of a given niche, and done extremely well, and it is really going to depend more on how rabid the buyers are and their spending habits.
In a Previous post I spoke of fly fishing and its different niche markets.
One of the reasons that niche was chosen, is because I personally am an avid fly fisher and I can tell you here and now, that we are a rabid buying bunch.
It is absolutely nothing for me to spend $650.
00 on a fly rod or $300.
00 on a reel.
I can assure you that most in this niche are like that.
But more importantly, there are isolated niches here.
For instance inside you have dry fly fishing, you also have streamer fishing and nymph fishing and you also have a pretty decent size segment that are more than willing to jump on a plane and travel for a new experience.
I think you can pretty much see where all this is going, and I hope this gives you a strong idea on just how to approach isolating niches and drilling down inside those broad niches to make a killing.
I think you can also see that the most important thing in Internet marketing is niche selection.
Without the right niche your sales will be virtually non-existent.
This is where so many newbie marketers fall down.
When looking for a niche they will try to promote something that interests them.
There is nothing wrong with this, but you have to be absolutely sure that there is a hungry market for it.
One the best things about focusing your efforts on this type of niche marketing is that you can easily build a loyal readership and loyal customer base, rather than trying to be everything to everyone, your able build inside of that isolated target audience.
Highly targeted segments of a market are known as niche markets.
It's about creating or finding a product that targets a specific segment of a broader market place.
Its the process of finding market segments that are smaller but are potentially profitable nonetheless.
I will typically chase a segment that has 30,000 or a little more that I can market to.
Now some of course have done very well with much smaller segments of a given niche, and done extremely well, and it is really going to depend more on how rabid the buyers are and their spending habits.
In a Previous post I spoke of fly fishing and its different niche markets.
One of the reasons that niche was chosen, is because I personally am an avid fly fisher and I can tell you here and now, that we are a rabid buying bunch.
It is absolutely nothing for me to spend $650.
00 on a fly rod or $300.
00 on a reel.
I can assure you that most in this niche are like that.
But more importantly, there are isolated niches here.
For instance inside you have dry fly fishing, you also have streamer fishing and nymph fishing and you also have a pretty decent size segment that are more than willing to jump on a plane and travel for a new experience.
I think you can pretty much see where all this is going, and I hope this gives you a strong idea on just how to approach isolating niches and drilling down inside those broad niches to make a killing.
I think you can also see that the most important thing in Internet marketing is niche selection.
Without the right niche your sales will be virtually non-existent.
This is where so many newbie marketers fall down.
When looking for a niche they will try to promote something that interests them.
There is nothing wrong with this, but you have to be absolutely sure that there is a hungry market for it.
One the best things about focusing your efforts on this type of niche marketing is that you can easily build a loyal readership and loyal customer base, rather than trying to be everything to everyone, your able build inside of that isolated target audience.