When marketing on the internet the amount of success you can expect is dependent upon the niche you have chosen to work in.
Online entrepreneurs are aware of the importance in conducting market research to determine how much profit potential a market has.
Read more to discover how to reverse this research process resulting in a reduction of both the effort and time you need to invest.
Successfully marketing on the internet is dependent upon the niche you’ve selected according to its competitiveness and profitability. As most online entrepreneurs would readily agree to start an online business it is prudent to first find a profitable market and then find a product to sell. Today however we are going to do the reverse. The initial emphasis will be on first finding a quality product and then ‘fit’ this product to the niche that seems well suited for it. The key here will be after the product selection to narrow down our market focus into what is referred to as a micro niche.
Let’s have a look at the simple 3 step process involved in this ‘reversed’ marketing research strategy.
Find a Product in Demand
Using the affiliate marketing business model you can easily find an already existing product that has got a good demand. Doing your product research in this way allows you to minimize the time and risk invested in making your product selection.
By searching various affiliate programs when doing any product research you can also make notes of any other products that may interest you for a future campaign.
Narrow Down the Market
Now that you have make your product selection Google it to see how it is currently being marketed online. Generally most people will follow a ‘herd-like’ mentality and promote the product to the same general market. Here is where you will be different!
Examine the product benefits and identify a market segment or micro-niche that is not being targeted by others but would still have a need for the product.
Tailor Marketing Strategy to Niche
Now that you have identified the niche or ‘new market’ you want to promote to focus exclusively on it.
Narrow down the niche into age, occupation, gender, nationality or any other demographics that may be relevant in putting together a promotional plan.
What you want to accomplish is to present a marketing strategy to this selected niche that speaks directly to them. For instance a weight loss product that you have selected can be promoted ‘New Moms Who Want to Lose the Weight from their Recent Pregnancy.’
Do you see how addressing people directly in your marketing campaign like that can make them feel the product is made especially for them? Your message targets their needs/wants so therefore they can better relate to your promotional efforts.
Knowing that successfully marketing on the internet is contingent upon the profitability of the niche you are in it makes sense to research your niche first. However justification can also be made for reversing this process. Online entrepreneurs in order to be successful will always have to do some sort of research initially and all we have done is reversed the focus of such research. There is no argument that to start an online business certain knowledge should be acquired beforehand to minimize business failure. In this case we have simply targeted a profitable product first as opposed to targeting the market itself. In either case if your research is accurate the end result should be the same and success will be yours!