Niche Marketing? Truth or fiction?

Has anybody had any success with "niche" marketing? Or has anybody failed with it? Or maybe you are you just skeptical and don't want to try it?

 

Isn't everyone in some niche or another, what exactly do you mean?

 

Well, no... not necessarily. I mean some people prefer to market different types of things and others like to focus on one particular thing. That is the difference.

 

If you try to market everything and/or to everyone, you will fail - unless you own a giant retail network like Walmart or Amazon.

I suggest to always start with a single niche and then optionally expand to other niches - but being very similar in some field - like communications, supply chains, etc.
It is crucial that the niche (especially the first one) is chosen wisely. It needs to be narrow (well defined and easy to target), but at the same time deep enough (having a number of potential buyers that area able to generate good profit) and not exhausted by competition.

 

What if you are an affiliate for Walmart or Amazon? Do you think you must have a niche in that case as well in order to be successful?

 

I always suggest to people to have a decent amount of knowledge about the niche you are attempting to promote otherwise you are always one step behind the "experts" within that particular market.

 

Agreed. But then what makes the "experts" the experts?

 

To name a couple - knowledge and genuine interest in the niche (such as having an active involvement in it prior to profiting from it) and if none of these, become an expert in it through study and research.

 

It is true that you can just market a bunch of stuff from Amazon, but then aren't you competing with Amazon, and why would you want to do that? You don't need to be an expert at everything that you sell, very few are. That having been said, most marketers have some interest and knowledge about what they are selling (their niche). Yet, most of these people would not actually be considered "Experts". Obviously, I would not turn down advice from someone who was a marketer and making seven figures a year, and I would consider them an "Expert".

 

I agree 100% with xaban.

Sure there are people who try to promote everything under the sun from like an information product on how to bake a cake -- all the way to ipads and electronics.

The problem is they don't have a narrow focus so they will not get targeted people interested in their products -- also it is so broad the competition is very high.

What you need to do instead is -- Pick a niche, then a sub niche, the. a super niche.

For example:
Market: Wealth
Niche: Internet Marketing
Sub Niche: Generating Traffic
Super Niche: Generating Traffic through Facebook

The Super Niche "Generating Traffic through Facebook" Is what you are aiming for. Now you have a small target of people who you can add massive value to -- in return get a huge profit for doing so.