There isn’t a successful online marketer anywhere in the world who would dispute the assertion that niche is the only way to go: niche markets, niche customers, niche produce. And this applies whether you create your own produce or opt for someone else’s to promote.
o Identify your niche market;
o Identify your niche customers;
o Identify the produce the niche market and its customers want.
Why most online businesses are doomed from the outset
It's sad, but even today the vast majority of online businesses still manage to fail before they actually begin…
‘Why?’ you might well ask.
Because 98 per cent of the people trying to do business online, don't know how to go about choosing a niche.
In fact, most of them make one of two huge mistakes:
Mistake #1 - Targeting a market that is too broad (i.e. Trying to compete with Amazon.com by selling books or other common household items online)
Mistake #2 - Targeting a niche that is overly saturated(i.e. Trying to get a foothold in the ‘Internet Marketing’ or ‘How To Make Money Online’ niche)
What users want to find when they search online
This little table says it all…
Top 5 e-commerce niche purchasing categories
a) Computers (4.3 million buyers);
b) Electronics (7.4 million buyers);
c) Software (9.6 million buyers);
d) CDs/Videos/DVDs (11.2 million buyers);
e) Digitised Books and Information (17.5 million buyers).
Information products outstrip all other e-commerce niche purchasing options and this opens the door to you in the development of your retirement money-maker plan. This table incidentally is extracted from a Forrester Survey (the internet research arm) on online buying patterns for the year 2004.
The secret to success…
The secret to long-term success online is to find tiny - but popular - niche markets that have little or no direct competition, and then create and sell digitised information products to these niches.
http://earn-money-in-retirement.com
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