By Randall A Magwood
If you want to be efficient with your marketing efforts, you have to target a specific group of people who will more than likely buy from you. The best way to find people like this is by doing "niche marketing". A "niche" is simply a small portion of a larger target market that you can market to and get higher conversion rates.
This is the best and fastest way to make money with your website. Hopefully you aren't a "me too" marketer, because me-too marketers don't prosper. You need to be targeting one specific segment of a marketplace if you want to be successful. And in this lesson, I give you a few reasons why you should do so. In fact, here's the first reason you should do niche marketing:
1) You won't lose a lot of money
To operate in a big, general niche, you have to invest in heavy advertising. You would have to advertise in major magazines, newspapers, high traffic website, and high pay per click costs. As a generalist, you will lose a ton of money right away, and it may take you years before you finally make your money back and break even.
But in a small niche, you don't have to advertise heavy online. There will be little niche sites with a lot of user interaction that you can advertise on. So you won't lose a lot of money, plus... you probably will make your investment back very quickly. It won't take long for you to profit. Here's another reason to do niche marketing:
2) You can sell higher priced items
This is one of the best reasons to do niche marketing. As a generalist, you would probably be limited to selling a product for $30. But in a niche, you could probably sell the same item for $100 - just because of the exclusivity. So you make more money without doing more work. You should be excited about that.
So if you see that someone is selling a wide variety of laptops on eBay for a relatively low price, you could start your own website and only offer one brand name of laptops on your site. You could offer only Sony laptops, Dell, HP, Acer, and etc. Instead of being a generalist like the person on eBay, you could operate in a niche, and charge more because people will view your site as the "go to" site for specialized laptops online.
See how this works? Niche marketing is very important, and it's something that you need to be implementing in your business today. Don't skimp over this aspect of marketing. The more niche specific you get, the more you'll be able to have the success that you're looking for. Your competition will be low, and you won't be forced to exit a marketplace because it's saturated with competitors.
Take these niche marketing tips and use them in your online business today. Remember that you will profit more, and will become a well-known figure in your niche. Plus, there are many more perks.
Good luck with marketing online.
ABOUT THE AUTHOR: Randall Magwood is one of the most respected and highly-regarded online marketing experts on the internet. He has a website about internet marketing that helps small business owners learn how to market their business online simply and easily. To learn more, simply visit his website here: Internet Marketing Secrets
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