You’ve Heard About Niche Marketing, But What Is It?

For those of you who have heard the word “niche” banded about the internet but aren’t quite sure what exactly people are talking about, niche marketing is defined as “a special area of demand for a product or service with the opportunity to buy or sell”.  All that really means is that a product or service is being sold to the people who are most interested in that particular product or service and not to the world in general.  For example sport is a general term but fishing is getting more niched and if you wanted to go deeper into a niche, fly fishing or trout fishing would fit the bill.

One of the things that make niche marketing so attractive to sellers is that their advertising budgets go further.  It costs less to advertise to a specialized market than it does to advertise to a broader market.   It also means that it is easier to become an expert in a niche field as business owners search out niche experts to help them run their business opposed to searching for a Jack of All Trades expert.

Niche marketing is usually designed to meet the unique needs of the targeted market.  Niche marketers must tailor their product to meet those unique needs and usually if you are in a niche then you would know your prospects needs inside and out.  If, for example, you have created a product to make poodle grooming easy enough for the untrained professional to do it, those who own poodles will be most interested in your product.  Those who own other types of dogs or cats couldn’t care less.  If you have written an e-book that will explain how to start and succeed at an online business, those who are looking for that information are your niche market although as competition online becomes more competitive you may have to define your niche even more and specify what type of online business to succeed in and what type of people it would be suitable for.

You should definitely consider niche marketing as it is a very effective and cost efficient way to advertise and sell specific products or services, especially online, to a specific audience or, hopefully, buyers of that product or service.  Have you found your niche yet?