Focused Niche Marketing For Success

Ron Killian

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According to Wikipedia, Niche Marketing is defined as:

"A niche market is the subset of the market on which a specific product is focused. The market niche defines as the product features aimed at satisfying specific market needs, as well as the price range, production quality and the demographics that is intended to impact. It is also a small market segment."

One of the biggest struggles marketers have, especially new ones, is picking the right niche or market. We see the question almost every day, "Which niche should I get into?"

There are the usual answers, ones I've given myself, such as get into something you know about, or something your passionate about. Both are not exactly bad advice. But there is a slight lack, a missing piece.

Or a way to add some gas to the machine.

As per the previous definition, a niche market is a subset or the marketing of a specific product.

That's the key, and where much of the profits can be. Something many marketers miss or they do not dive deep enough.
I am talking about getting very focused and really narrowing it down.

Let's take some examples...

How about Car Audio?

You could try marketing car stereo's and you "might" have some success. I say might because it's quite general and since it's so general, and a large segment, you'll probably be up against some big competition.

But....

What is we narrowed it down? What about Subwoofers? Midrange speakers? Speaker crossovers?

Better yet, what about name brands? Pioneer, Sony, or JVC?

A surfer searching for car stereo, could be looking for a wide range of products. Could be any one of a 1000 or more different products. But someone looking for Polk 5-1/2" car speakers, well you've just given them exactly what they want. What do you think your chances of getting the sale are, if you're promoting exactly what they want? Much improved to say the least.

Let's try another example...

Cordless drills. Pretty general, right? How about narrowing it down. What about 20 volt? Compact? Driver? Dewalt? Makita? You could even get into key features such as lightweight, or higher capacity batteries.

Look at the different types of blenders, different name brands. The wide variety of electronics and accessories. Mixers, pots and pans, toys... goes on forever.

And...

Once you start thinking with this frame of mind, you'll soon see that there are almost endless opportunities, right at your fingertips. Literally. I don't think any human could cover all the combinations or possibilities in their lifetime.

They say Amazon alone has over 200 million products for sale. Think there might be some very narrow niche products there to promote? Oh you bet.

And this could be used for just about everything you can think of. It doesn't have to be physical products from Amazon, I only used them as an example. Could be internet marketing courses, ebooks, software, wordpress plugins, and so much more.

Now, if you want to do this right, with the best chance of success, it would be wise to research the competition. While sub, sub, even sub niches will likely have much lower completion, you can't assume, so do your home work.

Some people would argue that small narrow niches have a lot less traffic. While that is almost always true, on the other hand that traffic should be much more interested in exactly what your promoting.

When I use to do only affiliate marketing, I noticed time and time again, those little niches always had so much better conversions. Best yet, I found my ranks in the search engines up towards, if not, at the very top of the first page.

This is another key point, you make more money with much less traffic.

Who doesn't want that?

But I really want you to get the point, that you need to really narrow it down. Don't pick just dog collars for example, pick pink dog collars, or spike dog collars. Better yet, what about "Pink Spike Dog Collars"?

Several years back I remember someone who was making nice sales off specific sized subwoofers for cars.

Once Again... Endless Opportunities.

Last year a friend of mine wrote up a blog case study, about building a niche website dedicated to an amazon physical product and its related items. Sorry I won't give away his product line because people tend to be lazy and would rather copy. But he simply picked a specific electronic product, built a site, added some content, did a little promotion, and he has sales coming in. Last I heard he wasn't able to retire on its earnings, but it made money and that is the important part.

Listen, I am not saying you're going to get rich with this type of focused niche marketing. I don't want to give people the grand illusion that it's going to make them a millionaire by Tuesday.

But...

If you build enough smaller niche sites, you could make some good cash. For some folks, it might be the first money they make online.
Also, you have to remember, that every sub, sub niche you try may not be a home run, some might be a flop. But if you try enough, you will find one that bring in the sales. And don't give up when one doesn't work. Just move on to the next. Though you need to give it a fair chance before you chalk it up as a loser.

I've tried alot of things online since 1998 and some of them did not pay off. But I persevered and tried enough that I found the gems that did work. In my opinion, that is a powerful trait of successful people, and I am sure you know this. You keep going, learn from your mistakes, and you will find success, and profits in this case.

The other key aspect I've hinted at...

With smaller niches, there is usually much lower completion, which means it could be easier to rank in the search engines, and keep those ranks longer. Less competition on social media as well. If your do physical products, sites like Pinterest could help you make a killing.

Over the years I've seen people do it time and time again, trying to attack a niche like "Weight Loss". To general and way too much competition. But, that just goes to show, there are a lot of little ones prime and wide open for you to grab the cash. Let other people battle it out in the big (and often saturated) niches. I say no thank you.

BONUS TIP: What if you go after narrow niche high priced products? Bigger commissions. Now we are talking. HINT: You can sort Amazon products by price. Get it? Good.

As always, I never ask anyone to take only my word, test it yourself.

What do you think? Do you have something to add?
 

Developer

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Hey Ron, AWESOME post. You hit the nail right on the head. I am constantly being asked questions like "How Can I Compete in XYZ Market" and my answer is always the same... "Don't Try" LOL.

I'm not an ass though, I do then go on to tell them that they would have an easier time, and many times, much higher results (and revenue) if they target smaller sub-niches which have much less competition and usually much higher commissions or sales prices.

I get so upset when I see people worrying about a certain market being "saturated" because EVERY market has TONS of sub-markets that NO ONE (or very few) people are exploiting -- THAT is where the real money is.

Find a popular niche, find a popular sub-niche within that niche, and target THAT. You'll have much less competition which will result in more commissions and/or sales and much better results, guaranteed!
 

Ron Killian

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Thanks Joey, Glad you liked it.

I agree, big markets are not usually the best, more so for new folks. And frankly, I think the small niches are best for new people because they have a better chance of making some sales, which can really give one the motivation to do more, take more action, or even to continue to take action. Nothing more depressing that working your butt off and not making anything. Kills your buzz real quick.

You hit it right, there are some real gems of unsaturated, or less saturated small niches. More than we can probably comprehend.

Yep, put in the time, do the research, uncover those unexploited pockets for some cash :)

Appreciate the reply!

FYI, you might want to fix your buy button :)
 

Developer

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real gems of unsaturated, or less saturated small niches. More than we can probably comprehend.
This is SO true. There are literally millions of smaller sub-niches out there.

True story...

A few years ago, when boating was at an all time rage in my area (New England),
many people were buying boats and there was this cleaning/waxing solution that
promised to free your hull from barnacles and discoloration and a slew of other
things that go along with prolonged sitting in sea water...

I got my team right on it and took a chance and started promoting it on a few or
my local sites and my affiliate commissions skyrocketed into 5 figures EACH month
for almost 6 months straight.

THAT is when I decided to leave the niches alone and always head straight for
the lesser known, lesser promoted sub-niches.

Many people are now targeting big ticket items, which is fine, as I know from
first hand experience that you can bank some serious cash from those as well,
however, for those who "think" it is easier to promote small ticket items, doing
so in the smaller sub-niches, you really CAN make a killing promoting low cost,
sure to sell items...

I LOVE sub-niches and deal almost exclusively with them as it is SOOOO much
easier as there is far less competition, for now anyways.

However, if you know how to market properly, there is no such thing as "easier"
because EVERYTHING is easy to sell. The real trick to ANY marketing is knowing
the "who's, when's, where's & what's" to market.
 
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