Marketing Internet Niche treasures - MINt
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A business relationship with a merchant or other service provider who allows a website publisher (website as used here includes Web page as well as blog) to link to that business' website. When a visitor clicks on the link at the publisher's site and subsequently makes a purchase from the merchant, the website publisher receive a commission based on the amount of the sale, a referral fee or a pay-for-click fee". To learn more, simply scroll down to the page to the articles, starting with "Things to know about Affiliate marketing"
The word ‘niche’ is defined as: “A special area of demand for a product or service”. ‘Marketing’ is defined as: “The opportunity to buy or sell”. If you put the two words together, niche marketing signifies buying or selling a product or service in a special area of demand. All that really means is that a product or service is being sold to the people who are most interested in that particular product or service and not to the world in general.
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Affiliate marketing continues to be one of the most popular and successful methods of selling on the Internet and if Internet usage continues to grow at the rate it has over the last five years the need for affiliate marketers of all specialties will grow exponentially.
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According to Whois / Whatis Internet Terms and Slang Terminology, Affiliate Marketing is defined as: "The use by a Web site that sells products of other Web sites, called affiliates , to help market the products". Amazon.com, the book seller, created the first large-scale affiliate program and hundreds of other companies have followed since.
According to Net Lingo Internet Terms Glossary & Dictionary, Affiliate Marketing is defined as: "A revenue sharing arrangement between online advertisers or e-commerce merchants and online publishers or Web site owners, whereby payment is based on performance measures, such as the number of sales, clicks, or registrations that the affiliate refers".
In other words, two companies agree to link to one another; if someone clicks from site A to buy something at site B, site A gets a commission on the sale. Affiliate marketing is a marketing channel used to generate leads or sales, whereas affiliate software provides the tracking and reporting of these commission-based activities (the sales, clicks, or registrations).
Amazon.com pioneered affiliate marketing by getting as many other Web sites as possible to join its affiliate network and sell its products, thereby greatly extending its marketing reach.
According to The World’s Glossary of Internet Terms, “Affiliate Marketing" is defined as: 'A business relationship with a merchant or other service provider who allows a website publisher to link to that business. When a visitor clicks on the link at the publisher's site and subsequently makes a purchase from the merchant, the website publisher receive a commission based on the amount of the sale, a referral fee or a pay-for-click fee.”
This is a simple, straight-forward agreement between a merchant and an affiliate. Budding affiliate marketers run into a problem when they try to reverse the success process. Instead of starting at the beginning, they try to start at the end.
Making money is the end of the process. The beginning of the process is education and there are several steps in between. Too many people, who are just getting started in affiliate marketing, fail to take the steps necessary to get to the end of the process and actually make money.
Step #1: Educate yourself. This is the key, opening the door of opportunity. It's also the common thread connecting successful affiliate marketers. Education lays the foundation - the building blocks to success. Start by gathering the best information you can find about affiliate marketing and absorbing it.
Step #2: Turn that information into usable knowledge. Even the best information remains kind of worthless, however, until after you discover how to use it - how to make it serve your purpose.
Step #3: Start applying the knowledge ... take action ...start building your affiliate business. Will you make mistakes, even though you've invested all that time educating yourself? Yes, you most likely will make mistakes.
Step #4: Test and tweak, test and tweak. This one never ends. And it's often the dividing line between succeeding and failing. Attention to small details often returns big rewards.
Following these steps will define you as a successful affiliate marketer.
What is Niche Marketing?
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The word ‘niche’ is defined as: “A special area of demand for a product or service”. ‘Marketing’ is defined as: “The opportunity to buy or sell”. If you put the two works together, niche marketing means buying or selling a product or service in a special area of demand. All that really means is that a product or service is being sold to the people who are most interested in that particular product or service and not to the world in general.
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Oftentimes big businesses use niche marketing. For example, a company that makes computers and computer accessories might advertise all-in-one copy/printer/scanners to the home computer user while at the same time advertising single function machines to large businesses. One of the things that make niche marketing so attractive to sellers is that their advertising budgets go further. It costs less to advertise to a specialized market than it does to advertise to a broader market.
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Niche marketing must be designed to meet the unique needs of the targeted audience. Niche marketers must tailor their product to meet those unique needs. If, for example, you have designed a product to make poodle grooming easy enough for the untrained professional to do it, those who own poodles will be most interested in your product. Those who own Blood Hounds or cats could not care less. If you have written an e-book that will explain how to start and succeed at an online business, those who are looking for that information are your niche market. Those who are happy doing what they are doing are not interested at all.
Niche marketing is a very effective and cost efficient way to advertise and sell specific products or services to a specific audience or consumers of that product or service.
What Niche Marketing Really Is
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It is just one of those hard, cruel facts of life that the big boys have all the money they need to advertise and sell their products and us little guys are on advertising budgets that are so small they probably don’t add up to what the big boys spend on paper clips in a month. Competing with the big boys isn’t feasible…or possible, for that matter. So what are we little guys supposed to do?
Niche marketing is our answer. We can’t advertise our products and services to the world at large, but due to proper implementation of niche marketing we don’t have to do that in order to make a pretty decent living… thanks to the Internet.
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Niche marketing is selling specific products or services to a limited audience. One person with a computer, an Internet connection and a good idea can go into business for himself on the Internet and target the people who would be most interested in what he has to sell and do all of the above on a very limited advertising budget.
Finding the right niche for what you have to sell isn’t really all that difficult. Just think about who the people are who would be most interested in what you have to sell. For example, if you have concocted a shampoo formula that will take chlorine out of a person’s hair, you can’t compete with giant companies that sell shampoo but you can narrow your market down to a niche and target sales to those who have swimming pools. You buy a domain, get a server, and build a website to advertise your product JUST to people who have swimming pools.
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In essence, niche marketing is selling a product or service to those who want or need the product most.
What Niche Marketing is Not
Niche marketing is not about trying to sell your product or service to the world at large. As a small businessperson, you could not afford that kind of multi-million dollar advertising budget. It isn’t possible. You can, however, with only a computer, an Internet connection and a good idea sell to a smaller audience using niche marketing.
Niche marketing is not about trying to compete. Competition is taken out of the equation when you do niche marketing. You aren’t out there in the world lined up beside or behind a million other people who are selling the same thing you are selling. You are selling to a specific audience that you have created for yourself with your opt-in email list.
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Niche marketing is not about selling to different people every day of the week. Once you have your list built, you can sell to the same people time and time again. By taking as much time as you need and putting forth enough effort to get to know the people who make up your list of buyers you can continue to sell to them.
Niche marketing is not about focusing on the big picture. It is about focusing on the small picture and the smaller the better. Narrowing your niche down to a very specific part of a larger market assures you of gaining a fair market share of that small part. The world is a big place and there are billions of people. You only need an infinitesimal portion of the population to have a huge list of potential buyers of your products or services.
Niche marketing is not about seeing the impossibilities; Niche marketing is also about looking closely at the possibilities. Small possibilities converted to sales can equal big profits.
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