Three Niche Marketing Myths (and how to avoid them)

I have a lot in my head today and I am getting them out onto the page, and I am working on a fab ebook with Nikki Pilkington about monetising your blog. That of course in the research led me down the niche marketing route, hence this post

There’s a lot of hype about niche marketing, let’s face it; there is always hype on the interenet. To me niche marketing is drilling down exactly what you do to to reach the right customers. To me there’s nothing niche about that, it’s just plain common sense in business. 

Some internet-only marketers like to pitch niche marketing as the only way to do business online and are hyper excited about it. Along with excitement often comes misinformation, the biggest piece of it being you only needing to be a niche marketer online. If you’re an aspiring to market your business online this information can be dangerous. It will cost you time, money and energy. Instead of dealing with all that frustration, let’s talk about these myths and then you can start to market your business online in a manner that gets results..

The Number One Myth –  There Are No More Profitable Niches

This just isn’t true. If it were the case then humanity would come to a standstill. We’re a species that is ever changing. Technology changes. Trends come and go. Life is continually evolving and growing. As we change and grow new niches present themselves. And of course there are still niches waiting to be discovered. Ten years ago who had heard of Sat Navs? 30 years ago Mobile Phones? New niches will appear within your existing business as well. Just keep an eye open for them.

You can use any number of keyword tools, brainstorming approaches and resources to discover your ideal niche.

Start with

• What you know,
• What you are good at,
• and  what are interested in.

Allow the brainstorming process to lead you in the right direction.

Myth Number Two –  Niche Marketing is only for Affiliate Marketers

Niche marketing has been around for much longer than the concept of affiliate marketing. Companies learned long before the Internet was a glimmer in anyone’s eye that specialising,  focusing on a small target audience enhanced profits.

So no, you don’t have to be an affiliate marketer to benefit from niche marketing. You can be a service provider, retailer, information marketer, or a blogger. You know best  how to best monetise your niche, and if you don’t then we should have a chat.

Customer research will take you a long way and is very beneficial, in blogging we call it knowing your ideal reader. In business it’s called knowing your ideal customer. If you don’t  know how or why you should do the research, explore the possibilities with a business coach.

Myth Number Three  - You Have to Choose a Niche You Know

Many people achieve great success online in a niche they previously knew nothing about.  In the story of Julie and Julia (which was made into a movie)  Julie set about to learn to cook and blog her way through Julia Child’s cookbook. She knew next to nothing about cooking before she started.

7 years ago I knew nothing about the transport business.  I had heard of blogging and I didn’t have a mobile phone. Things, times and people change – but the learning never stops.  My point?  You can create a “beginner” niche and learn right along with your prospects and readers.

If you are in business you are a marketer, and knowing your niche helps you make a more profitable business.

Sarah