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What is Niche Marketing?
Niche marketing is continually preached by internet marketing gurus as one of the most profitable ways to make money online. In the field of blogging many marketing experts would advise that it is best to choose your own niche topic so that you will be getting the highest potential to make money out of blogging if that is your main purpose. By going “niche” you would also have the chance to get high ranking result on the search engines thus bringing you more organic and targeted traffic.
So what exactly is niche marketing? The term “niche” is defined as: “A special area of demand for a product or service”. On the other hand, the word ‘marketing’ is defined as: “The opportunity to buy or sell”. Combining the two words together, niche marketing will be defined as “buying or selling a product or service in a special area of demand”.
In short, what niche marketing really means is that a product or service is being sold to the people who are most interested in that particular product or service and not to the world in general.
Big businesses commonly use niche marketing. For instance, a company that makes computers and computer accessories might advertise all-in-one copy-printer-scanners to the home computer user while at the same time advertising single function machines to large businesses.
One of the reasons that make niche marketing so attractive to sellers is that they can save more on their advertising budgets. Oftentimes, it costs less to advertise to a specialized market than it does to advertise to a broader market.
If you plan to go with niche marketing, it must be designed to meet the unique needs of your targeted audience. You must tailor your product to meet those unique needs. For instance, you have created a product to make pipe welding easy enough for the untrained professional to do it, those who work as welders will be most interested in your product but those who work as beekeepers couldn’t care less.
Here’s another good example: if you have written an eBook about how to lose weight, those who are looking for that information are your niche market.
To sum it up, niche marketing can be a very effective and cost efficient way to advertise and sell specific products or services to a specific audience or buyers of a certain product or service.