Niche marketing in some other definitions simply means you focus your marketing endeavors to a select group of people that all share a common interest. With focused marketing your main goal is to address a specific need, a product or service that is not being addressed by big online marketers.
While the definition is clear and simple many people may still have some misconceptions about niche marketing. So here are some ideas on what niche marketing is not.
1. It is not about trying to sell a product or service to a large audience.
If you’re a small online marketer you couldn’t afford a multi-million dollar for advertising budget. It isn’t possible.
However, with only a computer, an internet connection and a good idea, you can sell to a smaller audience using niche marketing.
2. It is not about competing with other marketers.
When you do niche marketing, the ugly picture of competition is taken out of the equation. You aren’t out there in the world lined up beside or behind a million other people who are selling the same thing you are selling. You’re selling to a specific audience that you have created for yourself with your opt-in email list.
3. It is not about selling to different people every day of the week.
This means that you don’t have to continually look for other group of people to sell to because once you have your list built; you can sell to the same people time and time again.
Just take as much time as you need and put forth enough effort to get to know the people who make up your list of buyers. If you can discover their other needs and demands it’s easier to find solutions or other products to meet that need or demand and thereby you can continue to sell to them.
4. It is not about focusing on the big picture.
Niche marketing is about focusing on the small picture, most of the times the smaller the better. By narrowing your niche down to a very specific part of a larger market, you can be sure of gaining a fair market share of that small part.
This world is a very big place and there are billions of people. What you only need is an infinitesimal portion of the population to have a huge list of potential buyers of your products or services.
5. It is not about seeing only the impossibilities.
Niche marketing is only about looking closely at the possibilities. This means small possibilities converted to sales can equal big profits.