5 Things Niche Marketing Is Not
Welcome to Part 2 of Niche Marketing: What Everybody Ought to Know. In Part I, we talked about what niche marketing is. Now let’s talk about what it is not.
Niche Marketing Isn’t Just “Targeting”
Niche marketing is not about trying to sell your product or service to the world. As a small business, you can’t afford a multi-million dollar advertising budget– it’s just not possible. You can, however, with just a computer, an Internet connection, and a good idea, sell to a smaller audience using niche marketing. First, you must have a niche in mind, then you must decide what people within the niche want or need from you. Then, to make those people want or need your product or service, you must create something to give them that fills a need in their lives.
Niche Marketing Isn’t a Competition
Niche marketing is not about trying to compete. Competition is out of the equation when you are doing niche marketing. You are not out there in the world lined up next to or behind a million other people selling the same thing you are selling. You’re bringing a unique value proposition to a targeted audience that you’ve built for yourself through your opt-in email list. If your product is something that people can’t use or don’t want or can get from someone else cheaper, then you’re not doing niche marketing–you’re just out there trying to sell stuff for whatever price it will fetch on the open market.
Niche Marketing Isn’t Quantity Over Quality
Niche marketing isn’t about creating stuff for everyone, every day of the week. It’s about crafting products and services of value for people who will want them and pay for them.
Once you have your list built, you can sell to the same people over and over again. By devoting enough time and effort to your list of loyal clients, you will have regular customers.
Niche Marketing Isn’t About Taking Over The World
Niche marketing is not concerned with the big picture. It’s all about concentrating on the tiniest picture possible—the smaller, the better. The world is vast, and there are billions of people on it. To have an extensive list of potential buyers for your products or services, you need a tiny portion of the population. Narrowing your niche to a discrete part of a larger market ensures that you gain a fair market share of that segment.
Niche Marketing Isn’t About Scalability
We’ve said “isn’t” way too many times, and that’s just wrong– because niche marketing isn’t just about seeing the impossibilities. Niche marketing is all about taking a close look at the possibilities. Small opportunities converted into sales can equal big profits. And niche marketing isn’t just about making a lot of money; it’s about making the most of what you have. Sure, it takes more than one sale to make a profit, but you stand to gain far more by marketing in a niche where demand exceeds supply than you would by marketing in the mainstream market. Niche marketing is a process that allows you to reach more potential customers than you could otherwise.
It’s like this: you can throw a pebble in the ocean and if it happens to land on a fish, that’s great. It’s not likely, though. You’d be better off using a fishing net. And how much better would it be to cast your line in front of one person who really wants your fish? Niche marketing is about being able to catch and keep what you want– but in small enough portions so that you don’t overload your resources on the first haul.
In the end, niche marketing is about specialization, focus and creativity. It’s about seeing opportunity where others see nothing but failure. Niche marketing means having a large number of ideal customers that you can reach with good service and a sound product or service.
It’s the difference between selling to everyone and selling to everyone who wants what you have. And it’s about having the creativity to know how to get those people in the door and keep them coming back for more.
Niche or die trying– that is the motto of people who have mastered niche marketing. It’s not easy, but it is worth it.
Let’s get started, shall we?
P.S. You might want to take a look at Micro-Niche Keywords for more on how to build out your niche.