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A niche is defined as a small place. Niche marketing is a service or product targeted to a specific group of customers. A niche could be quite large or incredibly small. Niche marketing provides something that a group of people have a demonstrated need to have filled. A niche product solves a problem that this group of people have and they will be willing to pay to have that problem solved for them. Learn more about why you need niche marketing in this article.
The process of finding a niche market is research. Your research can start with a product, or a forum or even somewhere like Yahoo Answers where people are looking for help with problems. If you have a great product that solves a big problem for them, you are likely to make sales.
Your niche market research will determine if there is a product available to fill a need or if one needs to be created. You may be interested in creating a product or you may prefer to use an existing product and become an affiliate marketer. You need to know what kind of searches people with this problem are performing and how many are searching.
You'll need to know how much competition there is, what kind of products are available and how much they sell for. If you're trying to break into a highly competitive existing niche, you may find that there won't be enough market share for your product to successfully compete. Or you may find another niche inside the one you are exploring that is relatively untapped.
Good niche research means you can find a gap in an existing market and end up almost alone, without a great deal of competition, helping fix problems for people who want your help. This is a profitable niche to find. It's also essential that you know at least something about the market you're researching as you will need passion and persistence to make a good profit from your new niche. A lack of interest or understanding in the topic will soon have you foundering as you lose interest. You will need to be seen as an expert in your field, so you must have some knowledge about it in order to gain the credibility you need as well as the trust and loyalty of your customers.
Like any other business, marketing in a niche needs a plan. You must know the exact keywords and phrases that are being searched upon. The right tools are easy enough to find online and most can be found for free, or a low charge. Spending the time with this level of targeting can literally be worth thousands of dollars to you over time.
In answering the original question, "why do I need niche marketing?" you will see that you can find an eager group of loyal customers in a niche market. You can potentially find a relatively untapped market who are hungry to have you solve a problem for them and will gladly pay you to help them. Smaller niches are often ignored by the larger companies as not being worth their time, which is perfect for an individual to move in under the radar and help a group of people who are overlooked.
Take your time, do your research, find your niche market to help solve a problem, spend the time cultivating that audience and you will see the financial rewards.
Promoting your product to your niche market requires special skills that you can easily learn.
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