Aussie Wholesalers Newsletter - The Premier Australian Wholesaler Information
Source for Businesses In this issue: 1) "Why You Need To Identify Your Niche Market"
1) Why You Need To Identify Your Niche Market A niche market can be defined, as being a small, narrowly defined but easily targetable section of a market.
Why do you need to worry about finding a niche market?
By doing so, you will be finding yourself a group of people for which their demand for a certain product is not currently being satisfied. The market isn't large enough for the big companies to bother about, and as yet, no (or few) other smaller competitors have discovered it. This doesn't mean you can't make a great living through niche marketing - many people are making thousands of dollars a week, selling products to one little niche.
Marketing your product to a well defined niche is vitally important to the success of any online business. There is so much competition on the internet, that if you don't find your own targetable market, your website will very quickly become lost, receiving very little traffic & generating very little revenue. Most of your traffic will come from the major search engines, so if you don't have a good ranking, you will lose a huge number of visitors. Some interesting facts:
For example:
You want to sell self defence products - either physical products, or electronic products. Do you know how many other sites are out there who are competing with you? Millions, and that's no exaggeration. In fact, there are 8,590,000 other sites out there who are competing for top position for the keyword phrase of 'self-defense'. How can you compete - you will be having to pay big money even to gain a good ranking in pay per click advertising on sites like Google or Overture. If you have to pay even $1 a click (which would probably be pretty cheap), & you needed 200 visitors before you got a sale, then each sale is costing you $200 - I hope it's a pretty pricey product you are selling!
The solution?
Dig deeper! Figure out the exact group of people you wish to target. Is it people who want to teach their children self defence, or people who want to buy a particular product, that up until now has been very difficult to obtain (and you are fortunate enough to know where to get it). By doing this, you will be able to find niches that aren't currently being satisfied - keyword phrases, that have little or no competition, but plenty of people are typing them in to the search engines every day.
Find these, and you will have yourself at the top of search engines in no time, with plenty of free, or low cost traffic being driven to your site.
2) Business Success Tips - Tip #5 'Look after your employees, & they will look after you' - Without happy employees, it is going to be a constant struggle to run a profitable business. While not all employees will necessarily go along with that thought, the majority of them will, especially if they are treated fairly & feel that you appreciate the effort they are putting in.
3) Essential Links & Resources Secrets To Their Success - Where
else can you read real life success stories from people who
are earning an amazing income from their internet businesses - the best part is, they actually tell you how they did it! Business.gov.au - An excellent site where you will find all the information you need on how to start your own business. Australian Business Register - Apply online here for your ABN, business name, and other tax related registrations. Business Licence Information - Find out if there are any licencing requirements for your business.
Copyright, Rachel Incoll, 2006 |
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