Nicheology - The Study of Profitable Niches
Seen as a common path for succeeding in small businesses, niche marketing has become crucial to any upcoming and established enterprises.
The simple reasoning for this is that it is only logical that a business strives to fulfill a specific need within the market rather than trying to satisfy the needs of all.
The term niche marketing might be new but the concept has been around for centuries.
Its importance cannot be ignored especially with most market areas being saturated by the much larger companies.
In spite of all the effort, money, link building strategies, marketing, and SEO, it is practically impossible for a start-up to compete in an already saturated market dominated by well established companies.
The only way out would be to find a profitable affiliate program or enter into a joint venture with the bigger competitors.
This strategy is not very favorable if your aim is to build your own brand.
As an entrepreneur, the option that is left is to find a profitable niche that capitalizes on satisfying unmet needs that one can build their business around.
By doing this, a small web business is bound to identify and take over a small niche market that is profitable and that does not interest the bigger players.
Good examples of niche marketing include carving a profitable niche how to write your own Ebooks.
The demand for electronic books has increased dramatically and there are plenty of people either looking to buy or sell these digital books.
Another example is coming up with an online game.
The giant gaming industry is dominated by large gaming companies and dominating such an industry by a small player is almost impossible.
The makers of a free online game can come to this realization and hence choose to carve for themselves a small share by capitalizing on free online gaming.
That is what Nicheology is all about - finding a tiny market segment that is relatively untapped and working towards satisfying the demand for the unmet need.