Niche Marketing… What exactly is that?
Well, according to the dictionary, the word niche means “a suitable place or position”
Online, niche means a specific small area of focus – your business position in a sense. And niche marketing generally means to focus on marketing to a small, select group of specific prospects.
Let me give you an example that might help bring it all to light quickly and easily.
Let’s say you’ve decided to open up physical business in your city. A pizza parlor for instance. And everyone knows that the best people to sell pizza to are college students. So you decide to locate your pizza parlor just a block away from the largest college campus you can find. That location automatically gives you immediate access to thousands of potential customers! Right?
But when you came up with this idea, you may not have realized there were already 15 other pizza parlors right there in that same block. So even though you have thousands of potential customers, they have many pizza parlors to choose from. And because of this, you have to fight especially hard just to get noticed.
That doesn’t sound too easy does it?
Now, what if… You knew there was excessive competition before you even got started? And what if you did a bit more research, and discovered a smaller community college – which has several hundred potential hungry pizza parlor customers – doesn’t have a pizza parlor for 20 miles? If you located your pizza parlor right next door to that college instead of the big one… don’t you think it’d be much easier to generate paying customers?
And what if… you did even more research – and discovered that those college students didn’t really want pizza much after all. It’s too greasy and fattening.
Instead, they’ve been looking around for… wishing they could find… a nice salad bar!
If you knew this before you even got started with your business…
– Would you open a pizza parlor right around the corner from that great big college… next to the other 15 pizza parlors?
– Would you open a pizza parlor next door to the smaller college… where there are no other pizza parlors?
– Or would you give them what they want in the first place: A salad bar.
That’s the power of niche marketing. Find out where there’s little to no competition. Then go one step further and find out what people are actually looking actively for… but can’t find… then give it to them.
Approaching any business – online or offline – with this strategy is almost a sure fire winner.
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