Have you ever searched the internet for an online forum or club that discusses only video games, poker, a hit TV series, or a certain delicacy that entices your sense? Or have you looked for like-minded people who play only same video game you spend hours mashing your controller buttons? If you’ve been unsuccessful in finding buddies who share the same passion you do, then you’ve encountered an untapped niche. And that’s what most successful marketers and entrepreneurs do: find a gap (niche) and fill it (sell).
A niche, or more specifically a niche market, is a “subset” of broad market or industry. Analogically speaking, a video game market/industry branches out into various niches, and with each niche branching out into another set of niches, called microniches.
The video game industry is comprised of several genres. These genres include:
First Person shooters
In a marketer’s point of view, these genres are niches, since each genre has a different fanbase; these fans often have a common set of qualities, like for example first person shooter fans: they prefer using a mouse instead of a gamepad or joystick. PC Gamers, who always play first-person shooter game titles usually have a bigger budget set aside for a more powerful gaming rig, and would not hesitate to upgrade their computer if their PC does not meet the game’s hardware requirements – even if it cost them hundreds of dollars.
If you’re catching my drift, a savvy marketer knows to empathize with the fanbase’s needs – but more importantly, he knows how to supply them with the products they need. As of now, there are over a thousand forums and websites around the world where gamers can meet and discuss their opinions about hardware, and the community members themselves also shell out information on what they intend to purchase in the future. In the simplest sense, everything is laid out for the marketer: demographics, brand popularity, budget-setting, and shopper trends.
After gathering all the information about that niche’s fanbase, you should start building your own website forum or blog, populating it with content, and getting more returning users interested to join in on the daily discussions. After accomplishing that feat, you are now officially a “niche master”, someone who has gained traction in a niche market.
And being a niche master is no easy task. Competition will stifle you, as more marketers search for growing niches. Again, once you’ve gained traction, you should immediately start selling products to your users.
And the best part about niche marketing it is that successful marketers do not even own products. They simply sign up as affiliate marketers and invoke banner codes on different sections of their website. Items advertised on these niche websites are usually offered at discounted prices, so users are more tempted to buy from the affiliate sites than to buy from the company store itself. There are also different ways niche marketers can earn money other than affiliate sales or CPA (cost per action) advertising:
1. Paid product reviews
2. Cost per impression advertising
3. Selling lead information to businesses of a different niche
Some marketers have even jumped the fence and patented & developed products of their own to be sold exclusively on their niche websites.
So why not give niche marketing a shot? A lot of successful marketers started from scratch and now have Porsches parked on their doorsteps. The rule is simple: find a gap and fill it.