The "Lost" Principles Of Niche Detection
If you are a new or novice marketer, you know you can't immediately hire celebrities to promote your products or go for instant branding like companies such as Nike or Pepsi-Cola.
Unless you are already a millionaire, you just won't have the budget.
The only other practical option lies in marketing to a niche, or area of special interest.
What is a niche? Hopefully, you already know, but for the record, Merriam-Webster's online dictionary defines it as "a specialized market.
" The Free Dictionary goes a step further: "A special area of demand for a product or service" and "a focused, targetable portion (subset) of a market sector.
" Niche marketing sounds like the perfect solution for those starting out in business on the net, doesn't it? And it is.
Yet it remains a sad fact that well over 80% of all internet niche marketers fizzle out like a dud firework within the first three years.
The most common reason? Not properly understanding how to pick a valuable niche ripe with opportunity and prospective buyers.
They learn a lot of techniques and tips - but they don't grasp the most basic principles.
Instead, they gloss over these "must-have" components, or overlook the need altogether.
It's shocking how many people underestimate the necessity of accurate niche detection.
Over and over again, marketers rush into business with scarily minimal, almost token, niche research.
They're busy buying e-books on how to make videos, how to use social networking, how to build a list...
and they've neglected the most important first step of all.
That's like signing yourself up for this year's Boston marathon before you've learned to walk.
And expecting to win it.
First, let's clear up a common myth.
Do you need to work in a niche you're passionate about? No.
In fact, doing so can often create "blind spots", because we can be so enthusiastic about our product or subject, we fall victim to assumptions about our market that cause us to fail to notice key obstacles to success (such as they're not really our market! Seriously!) A better approach is to pick a niche that interests you.
One you think you'd enjoy serving for a long time.
You don't necessarily need to be an expert yet...
because if you follow all the most proven effective steps in niche research, you'll end up becoming one before you know it, all quite naturally.
Unless you are already a millionaire, you just won't have the budget.
The only other practical option lies in marketing to a niche, or area of special interest.
What is a niche? Hopefully, you already know, but for the record, Merriam-Webster's online dictionary defines it as "a specialized market.
" The Free Dictionary goes a step further: "A special area of demand for a product or service" and "a focused, targetable portion (subset) of a market sector.
" Niche marketing sounds like the perfect solution for those starting out in business on the net, doesn't it? And it is.
Yet it remains a sad fact that well over 80% of all internet niche marketers fizzle out like a dud firework within the first three years.
The most common reason? Not properly understanding how to pick a valuable niche ripe with opportunity and prospective buyers.
They learn a lot of techniques and tips - but they don't grasp the most basic principles.
Instead, they gloss over these "must-have" components, or overlook the need altogether.
It's shocking how many people underestimate the necessity of accurate niche detection.
Over and over again, marketers rush into business with scarily minimal, almost token, niche research.
They're busy buying e-books on how to make videos, how to use social networking, how to build a list...
and they've neglected the most important first step of all.
That's like signing yourself up for this year's Boston marathon before you've learned to walk.
And expecting to win it.
First, let's clear up a common myth.
Do you need to work in a niche you're passionate about? No.
In fact, doing so can often create "blind spots", because we can be so enthusiastic about our product or subject, we fall victim to assumptions about our market that cause us to fail to notice key obstacles to success (such as they're not really our market! Seriously!) A better approach is to pick a niche that interests you.
One you think you'd enjoy serving for a long time.
You don't necessarily need to be an expert yet...
because if you follow all the most proven effective steps in niche research, you'll end up becoming one before you know it, all quite naturally.
