Niche Marketing – a Potential Goldmine
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You may have heard the word 'niche' being batted around by Internet Marketers.Finding a niche has become the antidote to competing in overly saturated online markets.
What is a niche?
According to Merriam-Webster's Online Dictionary a niche is described as "a place, employment, status, or activity for which a person or thing is best fitted... a specialized market".
Have you noticed that despite the closing of many businesses in these harsh economic times, the local hobby train store is still around? That the 'hole-in-the-wall' eatery is thriving? Or that trends such as scrapbooking can start with a bang and still close within a year when four similar businesses start up in the same area?
The online business world reflects the same trends as experienced in the offline world - often with faster turnover and startup rates. Those who promote a product or site that targets a small, select audience can tap into a market that is otherwise not being served. Despite the limitations of the client base, the targeted nature of the business creates a devoted and active market - the aim of any business.
Next: Finding a niche... >>
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