Before you build an Internet Marketing Business, there are several concepts that it’s worth taking the time to learn about first. One of these concepts is that of Markets versus Niches, and by the end of this article you should be able to tell the difference, and understand why you need to know the difference too.
What is a Market?
A Market, at least where Internet Marketing is concerned, can be thought of as a very broad and generic marketing space – examples such as Health, Wealth, and Self-Improvement are all considered markets.
What is a Niche?
A Niche, is a much smaller, much more specific, piece of a Market – examples of niches might include weight-loss, exercise, six-pack abs, weight-lifting, diet – all of which are subsets of the Health market.
Why Is It Important to Know The Difference?
It’s important to understand the difference between the two, because it directly affects how hard it will be to build an Internet Marketing Business.
If you target a topic too generic you will face a lot of competition, it will be almost impossible to stand out and compete with those who have been around a long time, or have a lot of money to throw at breaking into the generic Markets.
On the flipside of this, if you target a topic too specific, or related to an obscure market, you run the risk of just having no customer base to market too.
The Big Three Evergreen Markets
The easy way to avoid both, is to pick a niche within one of the big three evergreen markets (evergreen meaning they flourish constantly, all year round, in any economic climate – and there is room for newcomers to get involved) of Health, Wealth, and Self-Improvement.
Not only do these three markets flourish constantly, but they are also proven to attract buyers – people who actively come into the market with the expectation of spending money. Yes, you will always get your information-only seekers, and your curiosity crowd, but mixed in with these will be people with money in hand ready to buy what you have (assuming you are selling something valuable – this article isn’t about the value of your offer, however).
Within any of these markets there are literally hundreds of niches you can explore – several known-to-be-profitable niches are listed above for Health, and naturally these are also highly competitive too.
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