A smart internet marketing strategy
For the last couple of years, I have been grappling with the
idea of making money online. Although I searched and found a lot of
information, but most of it was vague and did not give me any concrete answer
to the most important question: what to actually DO to make some money on the
internet.
During my quest of getting answers, I came across a very
informative video on the internet which gave me a lot of information about
internet marketing and gave me some pretty good food for thought. The video
talked about Niche Markets what they are and why they are important to any
person who would like to make money on the internet by selling a product or
service. In fact, the concept of Niche Markets is applicable to any business or
service provider, whether they operate on the internet or otherwise.
If you look it up in the dictionary, the word; Niche means A
situation or activity specially suited to a person's interests, abilities, or nature.
A Niche Market is a group of people with a common interest
or ability or nature, who would all be interested in a common product or
service. The common interest of these people can be anything ranging from a
common hobby, a common problem, a common cultural background, to any common
desire they might have. Let me explain this to you with a few examples:
1) A niche market of people who have a hobby of scrapbooking
2) A niche market of people who have common problem of lower
backache
3) A niche market of people who are all Hispanics
4) A niche market of people who have a common desire of
learning plumbing
A smart internet
marketing strategy
People with common interests tend to cluster and you can
easily find pockets of such people online; in forums and groups or visiting
websites of their interest.
It is best to direct your marketing to select niche
audiences for maximum benefit to you and to them. It is always a waste of time,
effort and resources to market your product or service to a niche audience
which is not interested in what you are selling. For example, if you try to
sell scrapbooking materials to a niche audience who wants to learn plumbing,
you will not get any customers. Granted that you will find a rare plumber who
also likes to maintain his scrapbook, but you will not make a profit!
Similarly, marketing a new and effective acne product to a group of people with
lower backache will only lead you to lose the money you spent on marketing your
innovative acne solution to them.
Research is key to
smart internet marketing strategy
Niche Marketing is very cost effective and powerful; the
world's most successful businesses use this concept to maximize their profits.
Therefore, if you have a certain product or service that you want to sell,
concentrate your marketing efforts to the Niche Market that it caters too.
Conversely, if you do not have a specific product in mind that you want to sell
online, it is advisable that you seek out large Niche Markets and then think
about what they would be interested in buying and then provide them with that
particular solution/product/service. A
smart internet marketing strategy = Research