Niche marketing involves the art of defining your particular niche and marketing your product or services to this niche. Many business owners view the idea of niche marketing as a strategy that will cut their profit margin or limit their sales, but the truth is, having a well defined niche can give your business more power, especially if the niche has enough demand and money in it.
A profitable niche simply means that it is one where you can expect people to spend money, and therefore you will have an easier time in generating conversions and commissions for yourself.
To help you get off to a great start though, here are tips for you to put to practice in your niche marketing right away.
Tip #1: Choose the Evergreen Niches or Ones Where People Spend Money
Some niches are not lucrative. You could be the top niche marketer, but you still won’t achieve the financial goals you’re aiming for online. With research, you’re able to find out if the market is hot, and if there’s enough of an audience to sell to.
Evergreen niches are great because it means they will be around forever. It also means that you don’t have to worry about putting a ton of time and effort into building a massive authority website only to see your niche go away. This often happens in fads or trends…For example if you choose a niche too focused like Iphone 4 downloads…then your website will be out or date within a short period of time and all your efforts will have been a waste.
The weight loss niche is an example of a evergreen niche, and includes sub niches such as diets and weight loss, vegetarian diets and recipes, exercises and more.
Major markets that deal with relationships, health, technology, hobbies and interests, or physical appearance have near endless sub-niches to be explored and are definitely VERY profitable because people are desperate for solutions to their problems and people are also willing to pay big money for hobbies and interests.
To research niches, use many of the trends sites.
Browse site directories as well to see how many people are interested in certain niches.
Some sites provide insight into what people search for or buy the most.
Don’t forget affiliate websites such as Commission Junction. These sites often tell you what’s hot and what’s not. That way, you don’t have to do so much research to find a profitable niche.
Tip #2: Know Your Audience
Knowing the niche you’ve chosen is a lucrative one isn’t the only way to succeed, you also need to know who you’re selling to. Researching the type of people that are most interested in the niche you’ve chosen can help you tailor your marketing to them.
For example, if you know that the audience most likely to buy from you enjoys playing online games, you may want to create a PPC campaign targeting gamers. By bringing in the gaming interest into your ads, you’ll spark their curiosity in what you’re offering.
You can learn about your audience by using the many different tools online. Some of the most popular ones are Survey Monkey Basic, which allows you to create surveys for people on your email list or web visitors. You can also use BizStats, which gives you consumer information for different industries.
Tip #3: Market Online in a Variety of Ways
If you’re running a PPC campaign, don’t just focus on that type of marketing. You may want to do banner ads on major websites, native ads, videos, social media ads and email marketing as well. The more marketing channels you have, the more attention you receive from different sources. This can help you determine which marketing tactics work the best, so you can re-adjust your marketing over time.
Tip #4: Test, Adjust, and Re-Test
Niche marketing strategist Kevin Bramlett encourages marketers to always test out different marketing tactics, adjust, and then re-test. He believes this is the best way for marketers to be successful in selling their products and services because they discover exactly how to target their audience effectively.
For example, if you’ve been running a PPC campaign targeting gamers, you may need to adjust the text on your ad, if you receive more clicks, that’s great. If you don’t, adjust the text again, and monitor its effects.
Tip #5: Keep Costs Low
Advertising is important, but don’t spend all of your money on it. You can implement low cost marketing strategies along with more expensive ones to save on business costs.
A lower cost strategy is content marketing. Creating informative content for your website, social media networks, and for publishing on websites your target audience frequents can greatly help increase the traffic your site receives.
Start Niche Marketing Like a Pro
Now that you know the five tips to successful niche marketing, start your online business today. Remember, start with researching a niche, and then research the audience for that niche. You’ll then need to start advertising the niche to its audience, and start to do tests, adjust and re-test. As an overall rule, keep an eye on your costs. As you start bringing in money, you’ll be able to adjust your budget to allow you to spend more money on marketing where it’s worked out the best.
Inside the Powerhouse Affiliate Forum you can ask the community any questions you have. You can also get full access to our campaign action plans which will take you far beyond just choosing your profitable niche! We expose multiple traffic strategies, live campaigns, and in depth training. Visit Powerhouse Affiliate to get more details on our membership benefits.
So what are my favorite niches as an affiliate?
I have had huge success in diet and weight loss, dating advice, security software, anti aging, watch TV online, and a few others. One of the best ways for me to find profitable niches is simply looking at the affiliate networks I work with and seeing what offers they have. Then, I ask my affiliate manager for a list of the top 10 or 20 offers. This is a great way to find top niches to start building your campaign around.
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