Marketing

Why Niche Marketing Yields Good Profits

Have you ever been told to find your niche? In business, finding your niche can prove both profitable and personally rewarding.
Niche Marketing is the key to many successful organizations. From the small company that focuses on their niche, putting all their efforts towards it, to large companies with countless product lines, niche marketing is extremely important. For example, if you are a company that produces fishing products, you may have several different product lines and market segments or niches that you sell to. You have fresh water fishing, deep sea fishing, fly fishing, etc. You don’t want to market your Fly Fishing gear in a publication whose niche is deep sea fishing or vise versa. Therefore, it is important to focus your marketing dollars in each individual niche. There are certainly larger publications that cater to a much general audience rather than a niche one. However, are you going to capture your niche market as well as if you practiced niche marketing?
Passionate Fly Fisherman will more than likely respond more to articles in a Fly fishing specific publication then a general fishing publication. These niche publications are more knowledgeable and focused on their subject. It is sometimes better to know a lot about something then a little about everything.
Niche marketing is all about showing expertise and knowledge in your chosen niche. Also niche marketing is cost effective in that it is going to be less costly to advertise in a publication such as “Fly Fishing in Salt Water” magazine then in “Field and Stream” magazine.
For those trying to find their niche, the web is a great place to start. First think of what your niche is. What are you knowledgeable and passionate about that you can transform into a profitable business? How can you know if your niche is marketable and measure your competition? Web sites such as Inventory Overture (http://inventory.overture.com) are a great place to start.
At Inventory Overture, you are able to type in a keyword describing your niche and see how many people are searching that keyword in the past month. High amounts of searches, many times mean more competition and the need to narrow your niche. However, it also means a lot of interest in the subject. After using Inventory Overture, go to a search engine and type the same keyword and see how many sites are already marketing you niche. Ideally you want the keyword to be searched enough on Inventory Overture to be relevant but not in as many Web sites that the competition is unbearable. So find your Niche, narrow it, market it and start reaping the rewards.
Evelyn Lim is an online publisher of a FREE newsletter aimed to help all aspiring internet business owners. She also hopes to educate her readers on skills to acquire multiple sources of online income. To subscribe to her newsletter, please visit www.e-BizMap.com or her blog at www.EvelynLim.com .