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What is niche marketing and how to find your niche market

what is niche marketing and why is it

important in helping you grow your

business

hi guys is some day hear from databse

comment in this video I'm explaining

what niche marketing is and how it can

help you to advance your business niche

marketing is essentially selling a

product or a service to a specialized

segment of a market now I know you might

be thinking Sam what does that actually

mean well essentially let's pretend that

you are an offer and you wanted to find

a niche you might write kids books and

that is your segmented market so your

market is for children but you can even

have a deeper niche than just write in

kids books for children

you might even segment even further down

let's say you're only gonna write

children's books for boys and you can

even get more specific and say I'm gonna

write children's books for boys between

the ages of five and ten so I hope you

are getting the trend here the more

specific you get with who you are

targeting the more of a niche that you

actually have and just to go a level

deeper you might write children's books

for boys between ages of five and ten

who also have dyslexia and I know what

you might be thinking if you run your

business like this are you not

potentially losing out on a ton of

customers and a ton of sales and it's a

catch-22 because yes but also know

you're not trying to be the next

amazon.com selling products that are

basically cater to every single niche

and even if you are Amazon didn't start

out the way they are

they started more or less just selling

books and basically progressed to the

level where they're selling more or less

in every single category when you

actually define a niche for yourself and

for your business what you're actually

doing is entering it into a market with

a lot less competition this means a lot

less barrier to entry when it comes to

you advertising and marketing your

product and this is great if you have a

shoestring budget and if you're just

starting out so if you're noticing that

you're not getting the type of cells

that you want either to your product or

to your service maybe you need to go

back to the basics and think to yourself

is my niche too bored

do I need to niche down maybe you could

cater for a niche that is a little bit

more specific and benefit from less

competition and get more for your money

when marketing and advertising your

product or your service having a

specific niche is also awesome and great

specifically if you're selling products

because

you can actually build really good

relationships with your suppliers think

about it let's say you're selling

equipment for tennis players so you

might have one specific supplier who

sells you tennis racquets and that same

supplier might be able to sell you

tennis balls and other types of tennis

equipment because you're only in one

niche essentially you probably only need

one supplier and if you're paying that

supplier say two thousand pounds a month

to supply you with your goods then

they're probably likely to give you more

for your money because you're only

dealing with one supplier whereas if you

is just selling sports equipment in

general you might have multiple

suppliers and you won't be able to

invest as much money into just one

supplier therefore not reaping the

benefits of building a lucrative

relationship with one supplier but I

speak about this more in my video where

I speak about economies of scale and

I'll leave that video in the description

down below so if your product owner and

you want to know more about niche and

down and economies of scale and how it

helps you to actually keep your costs

down and improve your profit that makes

you go and watch that video another

benefit of niche it down is you can also

raise your prices because you're

tailoring your product or your service

to a specific individual or a specific

segmented market you actually meet in

that individuals need so directly that

you can charge more so for example if I

had a child that suffered from dyslexia

then I want to buy them a book that's

specific to their needs and I'm willing

to pay more for that than if it was just

a generic book for all children under

the age of 10 another huge benefit to

segmenting down and finding a specific

nation nation as much as you possibly

can is the fact that you'll begin to

understand your niche very very well

after a while of catering for that

specific niche you'll know what their

needs were the ones and what the desires

are for your specific target market you

will know where they spend most of their

time online and offline so you'll know

where to advertise you'll know their

pain points so you will know exactly

what types of words and phrases to use

within your advertisements to get them

to engage with you and to purchase your

products or your service and essentially

because you know them so well you might

be able to even come up with new product

ranges or new services that

you know we'll meet there need even more

specifically than your current products

or services so those are a few benefits

to nation down I've also published a

video on how to find a niche and I'll

leave that video in the description down

below if you're struggling to find a

niche maybe you're just starting out in

business and you haven't got a business

model yet definitely check out that

video but if this video it did help you

out please click the like button down

below and make sure you share this video

with a friend if you have any additional

questions or comments then leave them

for me in the comment section but until

next time watch some of my other great

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related content have a great day and I

will see you soon