We recently discussed the possibility of funding your pension with internet marketing endeavors, but we left something out – a basic truth in online business that should not be neglected. In short, niche marketing is a much more likely route to success than any other kind.
The concept to internalize is this – it takes a megalithic business to target their marketing to the entire world – and chances are your business won’t be megalithic right away. The secret to successful niche marketing is to narrow your potential customer base down to as precise a definition as possible. The reason for this is that the more tightly you can define your customer, the better chance you have of them actually buying something and remaining a customer for life.
An example of niche marketing is in order. Let’s say you have an interest in making affiliate sales selling musical instruments. Don’t set out to market every possible instrument to every possible musician. That way leads to a massive headache and very few sales. Drill down into your market. Instead of any instrument, choose a single type, like guitars. Electric guitars. But then you have hundreds of different styles of electric guitars. Get even more narrow in describing the person you want to sell to. How about people interested in heavy metal music. Now that’s a good choice for niche marketing.
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The Heroic Investing Team
Flickr / nzgabriel
Tags: niche marketing