If you are new to niche marketing, it’s important to understand that it’s a very profitable form of marketing. And if you’re failing, it’s not because niche marketing doesn’t work. It’s because you haven’t done the proper research, haven’t put into action the things you’ve learned, and likely you’re jumping from one project to the next without making the first one a success. Hint: If you own more than five domain names, but do not have even one profitable website, you’re probably making one of these three common mistakes.
Jumping In Too Fast
It’s imperative to first do research before jumping into any niche. You need to know who your audience is, down to their age, sex, child status, and anything else important to know, so that you can create or find good products and/or services in which to promote to them. If you jumped in without doing the research, it will seem to take longer to earn a profit. You need to know who the audience is, whether the niche can be monetized, and who the competition is before you even buy a domain name.
Research the audience; study the competition; create or find products. In that order. Don’t skip these steps or you’ll be jumping in too fast and may waste a lot of money, time, and effort on an idea that can’t work.
Being Addicted to Learning
How many courses have you purchased, or how many books have you bought about how to make money in niche marketing? Probably quite a few. Learning is a good thing, but it’s important that you actually implement what you learn before learning something new. If you’re spending all your time reading and learning and not doing, you will never see success. You might be very smart, true, but you still won’t have success without doing.
Learn, implement, practice, evaluate. Remember these steps each time you see a course you want to take. Are you really going to take the time to do all four on the list? If not, don’t bother wasting your money.
Starting Too Many Unprofitable Websites
This brings us back to the issue of owning many domain names, getting the shell of a potential profitable website up, and then moving on to the next shiny object. Pick an audience, and a niche, do your research and stick to it before trying a new one. If you don’t have a darn good reason to buy another domain name, and it’s not related in any way to the niche or audience you currently market to, stop right now. Don’t do it.
Make a profit from whatever it is you’re doing right now and get that business running smoothly. After that it’s fine to start a new niche with the same or even an entirely new audience. Only buy domain names when you’re ready to get started in a particular niche.
If you want to be a successful niche marketer it’s very important to take it easy, do your research, learn then implement, and avoid starting more niches before making the first one profitable and automated enough (through outsourcing and other means) to keep it going while you devote time to the next venture. Keep up to date on whatever niche you get involved in, read industry news, and stay ahead of the competition.