With the advent of the internet age, online niche marketing has slowly but surely become the call of the day.
For online niche marketing, targeting your online prospects takes a different set of skills which I strongly believe are easy to acquire.
A good example of online niche marketing which utilizes focused target segmentation is affiliate marketing. They seek out the smaller sub-segments of larger market, design a website to promote to this uniquely focused segment, or a loyal customer base.
Contrary to common views, affiliate marketers do a vast amount of online research to understand the needs and psychographics of their niche market, fully maximizing search engine tools to derive a viable niche market. This technique is then repeated across several other niche websites until a desired income level is achieved.
On- or Offline businesses may utilize the very effective (but takes patience to grow) tools of social networking sites like MySpace, Friendster or participate in related online forums. Set up your niche group and create a following. This is the latest medium even large ad agencies are leveraging on.
First things first, you need to check out the demand and supply of your proposed product or service. Do your research extensively, not limited to the following step. Go to search engines like Overture, Wordtracker, Google, Google Trends and others to check out the demand & supply of your niche.
Your objective is to search for keywords indicating great demand and less competition. Check out the demand using Overture or Wordtracker and the supply using Google.
Once you have found or created your product or service, online niche marketing on the web essentially includes the following:
• Set up a website to market your product.
• Use related keywords to expedite SEO Search Engine Optimization.
• Extend your marketing to related forums, blogs, article directory sites (here, you should go light on the sales pitch) to generate interest and link them to your site.
• Collect names via your auto-responder to build a database for cross-selling and staying in touch with your niche market.
• Repeat this cycle for new products and services
This simple yet proven approach is effective for your own licensed products but also for online niche marketing.
Essentially, building an online niche business is similar to growing any business be it on- or off- line. You, the entrepreneur, must have that "oomph!" spirit and that drive which keeps burning on. The only difference is in the tools that you leverage on.
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