One thing that can be said about marketing on the internet is ‘the money is in the niche.’ Most online entrepreneurs with a little experience are aware that if you can locate a niche market with a strong demand and paying customers you can be successful. The larger and more competitive markets offer tremendous potential also however they do require more of a different type effort. Then there is the smallest markets of all referred to as a micro niche which offers the least amount of competition.
Viewing the internet marketing landscape this way reveals it as being comprised of 3 different market types. On the surface it would look as if targeting the smallest markets is the way to go but let’s not get ahead of ourselves here. Looking more closely it appears that all three come with their own unique sets of challenges and benefits. So it appears a closer look would need to be made before deciding to jump right on in.
Let’s have a look at the pros and cons each market type offers to online entrepreneurs and how they best match up with your skills and work ethics.
Although not a lot of research is required to determine demand or profit potential much time and effort does need to be invested in the marketing process. Due to the more competitive nature of this type market profit margins tend to be smaller.
The niche of a larger market is simply a more defined or specialized sub-segment of the larger market itself. The greatest efforts are upfront when you are conducting the initial research to ‘scout’ out potential markets and their profitability.
The backend benefits of such a market is less competition and the ability to get higher profit margins since products offer are more specialized to begin with.
The niche you select should be something you have an interest in since this interest will help motivate you through the diligent research that is required.
A micro niche is an even more defined and specialized sub-segment of its larger niche counterpart. Proportionately speaking even more diligence is needed to research the possible potentials of such a market.
The benefits of discovering and working a micro niche are that the competition found in this type market is the least of all. It also doesn’t hurt that the profit margins are the highest thereby making the research efforts worth your while.
Marketing on the internet often times involves the initial decision as to what type market you are going to enter. Everybody enters the online arena possessing different levels of skills and work ethics. Whether you elect to work within a niche market or one of the larger and more competitive markets is up to you. There is a need for you to do an honest and personal assessment of your own skills and work ethics. With this assessment you can then match yourself up better insofar as the type of market that would be to your liking. As a result you would be allowing yourself the greatest possibility for success.