Using the power of niche markets to connect with specific groups of customers is one of the best and easiest ways to make money online or offline. But their are two mistakes that many new marketers make (I fell into these traps myself). I am going to tell you what these mistakes are and how to avoid them.
Avoiding Information Overload
When I first started learning how to market online I got absolutely overwhelmed with what niche to pick. There are so many things to sell that it became absolutely overwhelming trying to choose. I was afraid that I’d make the wrong choice and fail miserably, so I didn’t do anything for about 2 months. It was crazy! And, I’ve seen many other people go through this very same thing.
There are many good ways to choose a niche and at the bottom of this article I will give you a link for a really good free report that will show you exactly how to choose a good niche. But even with a good niche choosing method it is really easy to just not know where to start.
The key here is to just get started. Being successful online is really a numbers game. It’s about finding a niche that works for you. Sometimes that takes testing and identifying 10 niches and sometimes it takes testing and identifying just one before you find your first winner. Most people I know (including myself) who make a full time living online, have tested 30 – 40 different niches or campaigns and have 3-5 that they make the bulk of their money from. Niche marketing is all about doing and learning. Just getting started is the key.
Avoiding getting married to a single niche market
This is something that I have really struggled with personally, and I know that I am not alone. When I started out with niche marketing I would put all my efforts into a single niche market, and not let it go for months. Now don’t get me wrong this method can absolutely, positively work. But it only works well when you have identified a hot niche market that is actually making you money.
What I discovered is that I am much more successful if I “test” a niche market quickly and then move on. I can always come back to it and expand it if it is successful. I have a formula that usually takes me 1 hour a day over about 7 – 10 days to set up a good test. I have learned to follow this formula and it gets me great results. The key here is to know when to move on. Now I always start a new niche test at least every couple of weeks.
So in a nutshell: the key to successful niche marketing is to pick niches quickly and to test them quickly.