Knowing Your Niche

You decided to go into network marketing because you wanted to be able to make money online while you were working your fulltime job. The purpose really was so that you could establish financial security regardless of what is going on in the economy. Financial security is great, it is very important. What most people fail to understand when it comes to network marketing or internet marketing is that their success is dependent upon them knowing their market. More specifically their niche market.

Your niche market is the market within the market you are after. So let’s say that what you are “selling” is soccer shoes. Within that market there are several niche markets such as children’s soccer shoes, men’s soccer shoes, women’s soccer shoes, indoor soccer shoes, outdoor soccer shoes… I think you get the point. You can cater to the big market, but if you can focus on your niche you will increase your success.

Why is that? Well, when you know your niche you are going after the customers that are looking for what it is you have. Yes, if you market to the soccer shoe market you will get the people that are looking for children’s soccer shoes. But you are going to be competing against other “superstores” that offer all types of soccer shoes. Whereas if you focused that energy into going after the people that are looking for children’s shoes you are going to nab more sales because those people aren’t going to have waste time going through a huge site to find what they want.

When a person is searching for a specific niche they aren’t generally browsing and if they do – make sure you know that and offer them a selection. For example, when someone opens up their browser and types “kids indoor soccer shoes” into Google – they already know what they want and take much less convincing for a quick sale.

There is yet another benefit to knowing your niche market. You are going to save money in your advertising budget. You aren’t going to waste money competing with a WalMart when you are Helen’s Dress Store. This doesn’t mean that you aren’t going to get sales, you will actually get more sales because the impact of the advertising you are doing is more effective and provides wider exposure to the people that are looking for you.

The majority of niche marketing sites generate revenue through the use of affiliate programs, which are constructed by companies that extend commissions to an external sales force. By promoting and selling a company’s’ products through their affiliate program, you can generate revenue based off either clicks or commission on sales.

You have to know your niche because it will help you understand your target audience. Knowing your target audience will help open the doors to more opportunities for you as well, because you are going to be on the lookout for other products that your customer base is going to be interested in. This will help you maintain a client list that will provide you with repeat business.

Neil Bartlett is the founder of MyIMCoach.com. My IM Coach provides aspiring Internet Marketers with Tips and Techniques for getting started and/or improving their marketing skills. To learn more and INSTANTLY grab his FREE report “How To Make It Online”