No matter where you explore, most e-commerce consultants will tell you to have a niche when it comes to marketing your website. While this is true, it is also equally important to discover your passion and learn the difference between niche for profit and target marketing. If you notice, your website may have been up there for a long period of time without even monetizing its existence. Don’t put your work to waste, let it be known and capitalize on its longevity of existence. In order to monetize on your blog, you have to remember two things, niche for profit and target marketing.
Technically, they both fall under niche marketing with very different dimension.
Niche for profit allows you to promote, market or extend a specific product / service to targeted clients worldwide. This type of marketing tends to be a lot easier because you will be working on something you love. You write, you promote and you try to sell something that is very familiar to you. Having a personal niche can also lead to customers seeking you for a specific product / service. It is basically in the WHAT side, combined with WHO.
Example of Niche Marketing:
Product Reviews – Product review websites have been one of the most successful niche sites worldwide. Whether its services or products, they tend to earn money promoting products on their websites.
Retail – The world of retail is one of the biggest influence in the breakthrough image of e-commerce. Retails stores have contributed over millions online and has been one of the most sought online stores to this day. They have become the haven of clients who can’t seem to find their items anywhere else. Some specialty stores offer services to find a specific product for a client that you can’t find in any department store.
Professional Services – professional services include, accounting, legal, medical, fitness etc.. In a more specified service, these professionals create a niche that exclusively offers a specific topic in their profession such as taxation, debt collection, knee therapy, yoga etc..
Consultants – Online consultants have gain their recognition online because of their adaptation of niche marketing, offering specific advice to people in a particular area of expertise.
Education – providers of online tutoring for a specific subject for anyone who needs the service.
Target market – (WHO) on the other hand relies on a specific group of people where the business you’re tying to sell is directly intended for them. In short, it is the client you’re directly aiming at for various product or services.
Example of Target Market:
- Parents and Children
- Women over 30
- Men over 20
- Dog Lovers
- Single Parent etc…
The preferences of these two relies on very different details yet similar purpose. To market, sell and convince.