The term “niche marketing” could be defined as a market within a market; for a fruit vendor, niche marketing would be to sell only oranges. Manufacturers and marketers work closely together to identify the preferences of mainstream consumers. Many of the products that we buy today were geared toward this market in the past.
Niche marketing to the forefront
But consumer preferences have changed over the last decade and now manufacturers are creating products and services geared to smaller groups. For instance, Coca-Cola is probably the best-known soft drink in the world. Over the past 20 years, they have introduced at least 10 different varieties of Coca-Cola, the latest being a “Diet Coke Plus” which is aimed at the more health conscious individual. This variety of Coca-Cola boasts certain nutrients that are important to the body’s healthy functioning.
The value of niche marketing is that it allows you to concentrate all of your efforts on catering to a specific group. By focusing your attention on the preferences of a certain group of people you will be able to customize your marketing and advertising to speak to them in their language, using the images they identify with, in the places that they frequent and through the medium they prefer.
Identify your target audience
Identifying your buyers for your product or service with as much detail as possible is the essence of niche marketing. In addition to creating a website that functions properly and gives your visitors the information they need to make the sale, you can earn income through affiliate marketing links and Google Ad Sense contextual advertising.
Generating income through Affiliate Links & Google Ad Sense
Contextual advertising has become extremely popular and lucrative for many websites on the Internet. Google is the leader in this area providing contextual ads that link to your copy and produce a link to related products or services on your website.
Google offers three payment options
1.Cost per click ads where you get paid every time someone clicks on an ad
2. Cost per thousand impressions ads pay for every thousand times a web page gets viewed
3.Cost per action ads-payment is made every time someone follows a link and takes a predetermined action
Google AdSense ads have proved to be big a money-making opportunity for many people. There are several instances of people making upward of $ 100,000 per year. But it is not easy. You have to attract a large audience to make this happen.
Google generally makes a payment every month through check or electronic transfer.
Affiliate marketing text links can be used in the same way throughout your content on your site. For instance Commission, Junction offers hundreds of merchants in different categories that will supply text link advertising for you to use on your website and in your e-mail marketing. If you’re selling bed and bath linens you would choose affiliate marketing programs that are related to your product.
One of the major complaints of website visitors today is the amount of advertising instead of valuable information about the products or services they want to buy. The other problem is that in many cases the advertising is totally unrelated to the products or services on the website. Niche marketing gives you a good opportunity to become dominant in your area and excel in your marketing to a specific group.
By using the multimedia capability of the Internet, you can reach your buyers through video, audio and text promotions tailored to their interests and their needs. If you create content around your affiliate marketing text links your website visitors will not feel overwhelmed by advertising.