It is just one of those hard, cruel facts of life that the big boys have all the money they need to advertise and sell their products and little guys like us are on advertising budgets that are so small they probably don’t add up to what the big boys spend on paper clips in a month. Competing with the big boys isn’t feasible…or possible, for that matter. So what are us little guys supposed to do?
Niche marketing is our answer. We can’t advertise our products and services to the world at large but we don’t have to be able to do that to be able to make a pretty decent living… thanks to the Internet.
Niche marketing is selling specific products or services to a limited audience. One person with a computer, an Internet connection and a good idea can go into business for himself /herself on the Internet and target the people who would be most interested in what (s)he has to sell and do all of the above on a very limited advertising budget.
Finding the right niche for what you have to sell isn’t really all that difficult. Just think about who the people are who would be most interested in what you have to sell. For example, if you have concocted a shampoo formula that will take chlorine out of a person’s hair, you can’t compete with giant companies that sell shampoo but you can narrow your market down to a niche and target sales to those who have swimming pools. You buy a domain, get a server, and build a web site to advertise your product JUST to people who have swimming pools.
In essence, niche marketing is selling a product or service to those who want or need the product the most.
Read the rest of this post at The Great Ideazine