Niche marketing is, without a doubt, the most popular method of making money online.
The concept is so simple: find a niche with hungry buyers; provide them with some free valuable information on their subject; and subtly (or directly) lead them forwards into a “click here” link to get more information.
Almost everyone involved in internet marketing has had a ‘lights on’ moment at some early stage in their career when they realised the potential that could be achieved from this simple concept.
But did you know that well over 90% of internet marketers fail to ever make any money online? The exact statistic is not known, but many experts claim that it is as high as 98% failure rate.
Wow! 98% failure rate! For something so simple?
So it makes you wonder, what is the secret to success in niche marketing? With such a high failure rate, it must be a real BIG secret, right?
Wrong. The first and most important secret to success in niche marketing is in the knowledge that “there is no secret”.
Its true! And even though there are no secrets, that does not stop people from selling them.
Here’s another interesting item that maybe you did not know. The niche of “niche marketers” (yes, that actually is a niche too) is one of the hungriest markets of all.
And therein lies the problem.
Let us turn our attention around for a moment, and look at the topic of the secret to success from another angle, the secret to failure.
Here it goes, a sequence that is reasonably typical of what happens in the real world:
- You learn a little bit about online internet marketing and get hooked on the idea of niche marketing.
- You try it for yourself based on what you have learned so far – and it results in failure.
- You decide to study it a little bit more, and come across a ‘secret solution’ product that practically guarantees that you will be successful.
- You buy the product and try to implement it. Once again it results in failure.
- This begins a cycle where you keep returning to step three over and over again until you eventually decide to quit. You have joined that 98% figure that I mentioned earlier.
Now, a small bit of analysis of that sequence should make it clear why so many people fail. First, notice that the word “little” was used a few times. That was intentional.
There is a well-known saying: “A little knowledge is a dangerous thing”. This saying existed since long before the time of the internet, but it still applies 100% to the problem of why so many people fail when it comes to niche marketing or internet marketing in general.
Now, we return to the topic at hand, the secret(s) to success in niche marketing.
- Use your common sense – we all have this, and we just don’t make enough use of it.
- Beware false expectations – it is ridiculous to think that there is a quick-fix-sure-fire method that will practically guarantee riches with almost no effort.
- Get proper tools and training – in the 5-step failure plan above, it is very likely that some of those products would have worked very well, if implemented properly.
- Remember that effort is required – You cannot expect to succeed by clicking your mouse a few times, instead you must be prepared to work, yes actually WORK, to get results.
Finally, you may be wondering, am I saying to avoid buying products that teach methods of marketing?
No. Absolutely not. It makes perfect sense to buy products and training material from trusted sources. Just like any business venture in the real world, get the proper tools and training. Turn your “little” into a “lot” of knowledge, and vastly improve your chances of success in the future.
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Filed Under: Niche Marketing