Niche Marketing - Work Your Niche Market

What is a niche market? In simple terms, it is a specific area of the market at which a particular product is aimed with the product being designed to meet the requirements of that market. So, what do I mean by working your niche market and why would I tell you to work it?

Well, at a recent seminar there were over 70 people and they were all in non-competing niche markets, most of them with a potential market of a hundred million dollars apiece. There is a vast array of possible niche markets, each of which can be worked like a gold seam, to a great depth.

I’ll explain more in a moment, but first I want you to avoid making a common mistake. Don’t work a niche in a halfhearted way and then abandon that rich gold seam for another, unrelated niche. The trick is to find your niche; work the niche to its full depth and to concentrate your efforts only on that one rich seam. Avoid flitting about or spreading your time too thinly.

Here is an example of such a niche. There was a doctor at the seminar who is amassing a huge personal fortune from his books, audio tapes, video tapes and seminars - all neatly packaged and well marketed. What is this outstanding new message requiring hours of tape and hundreds of thousands of words to explain? It is simply this: “Drink More Water”. All very logical, and who could argue with such a message, but he fully expects to clear ten million from it. Much more if he really gets his act together. He is not even advocating drinking more bottled water – just plain old tap water!

This guy is really working his niche. He is not diluting his efforts by dropping or sidelining his gold mine and going into other niche markets, related or otherwise. He is concentrating solely on his chosen, highly profitable, niche. I hope you can see the importance of this.

You need to start thinking about what YOUR niche market could possibly be. If you find it then you will have a virtual doorway to riches which will open before you. You are a unique person with a unique set of skills and experiences. So, start getting your brain into gear to think about what YOU could do. You must be able to come up with something with more substance than “Drink More Water”.

Think about what skills and experience you already have and where you can employ them to the best effect. By making the most of existing abilities you will speed up the whole process and greatly improve your chances of success. If it is something which you are particularly interested in, or even passionate about, so much the better!

Bear in mind that a niche market does not necessarily mean a small market. What is the potential for simply selling the idea of drinking more water? The number of potential customers runs into many hundreds of millions. The niche aspect comes from the tiny segment which you decide to select from the vast array of products and services available. There are millions upon millions of products and services and each one is a niche.

Remember the secret to success: find your niche, work it to the full and drink more water!