Most people ask “what is marketing” as if it’s a single entity. The truth is that marketing is so huge in scope that it can be defined in a thousand ways. With the entry of online marketing, the scope went even larger. For this article though, we are going to focus on niche marketing which is getting prominence nowadays in the online marketing arena due to the increasing level of competition online. The concept of niche marketing was born when internet marketers started building businesses that are tightly focused on small but uncompetitive markets. This move primarily aims to differentiate their businesses from the ones which are already dominating the markets.

What Is Marketing: The Basics Of Niche Marketing

The main goal of niche marketing is to target a niche that is part of a larger market and dominate such niche. Let’s say for instance that you are into the business of selling shoes online. Well, there are dozens of already established shoe merchants online. So if you try to get into the mix and compete with them, you will be committing business suicide. So what you need to do is focus on a specific niche within the shoe industry. For example, you could set your eyes on “ballet dancing shoes”. Selling “ballet dancing shoes” would then become your niche. This is how niche marketing works.

What Is Marketing: Niche Marketing Tips

1. Do your research. Larger markets can often be divided into numerous niche markets. What you need to do is research and find out which of these niches can be monetized and which have the least competition. Always remember that just because a market is small and tightly focused doesn’t mean that it’s not competitive at all.

2. Try to target several related niches then build businesses for each of them. When all your niche businesses are up and running, you can interlink them together. This way, the customers of one niche business can also become customers of the other niche businesses. This won’t be hard to do since your niche businesses are related to each other.

3. Always keep yourself ahead of the competition. No matter which niche you are into, there will always be competition. With that said, you should always be working on making your products/services better than what the competition is offering.