Killer High Profit Streams Dominating Niches
June 25, 2009 by admin
Many of the Internet’s most successful people are dominating niches that we’d be surprised to hear about, simply, because they fly under the radar a lot of times. Very high profile marketers who are in the IM niche for instance, will use several different alias names as to cover their identity, and to protect the niches that they are seeing huge profits in.
Hey, that’s only smart right. Once you find a profitable niche, you would want to protect yourself as much as you can from your competitors. Especially, if you are one of the marketers who are very publicly known and popular in the IM niche. Although popular, usually they are dominating niches adding many different profit streams to their incomes. They don’t want people finding out where they are making these great profits. It’s not usually just the IM niche that they are a part of.
I’m sure you have heard that the IM niche is very profitable, and certainly it can be, but, it’s also the MOST competitive niche on the ENTIRE Internet. Also, many of the people who are very profitable in the IM niche have been at it for years, and have had the experience and time involved to create a lot of J/V partnerships. It’s completely cut throat, especially if are just starting out and trying to break into the IM niche. Personally I am in the IM niche to a huge degree, with valued list members that amount into several thousands of subscribers and it’s still a very hard ball game with all of the competition out there. They use the term “cut throat” for a reason. It literally can be!
I think it’s important to always have a foot in the IM niche. Being in the IM niche can open a lot of doors that aren’t always open in some of the smaller niches. Such as J/V partners promoting for you, helping one another with adswaps building our lists to higher levels etc. But, that said, it’s a lot easier to crack a market and begin dominating several other smaller niches, than it is to jump in and try being competitive in the IM niche.
Dominating niches in many smaller markets is much easier…here are a few reasons why:
1. There is far less competition to compete with. When you can find your little sub niche, of yet another sub niche, it enables you to focus right in on a very distinct and targeted market.
2. It’s generally easier to create a product of clear distinction as compared to the other competitors in that niche. Have you noticed how many IM products seem to be simply re-hashed crap, that at times, really don’t share anything new?
3. If you are an affiliate in a small niche, sometimes the profits on some products can be much higher than in larger niches. They are also easier to sale as compared to products in the IM niche.
4. People looking for products in micro niches usually aren’t as numbed out by being advertised to so much. In the IM niche, we can get numb to recieving hundreds of emails a day by promoters.
5. It’s easier to get traffic! Yes, with far less competition in the search engines, it’s can be much easier to get high rankings. The traffic volume may be less, but, it’s extremely targeted traffic which leads to more sales.
6. It’s much easier to create a unique brand and name for yourself in small niches. By becoming uniquely known quicker, and people enjoying your products, they will become repeat customers of your products in the future.
Those are just some quick reasons as to why dominating niches on a smaller scale can have some huge benefits for you. Remember, it’s not only easier as a beginner to start out in smaller niches, but if you are a seasoned pro, it can add a ton of different revenue streams to your monthly income in a short amount of time. It’s not hard to see why some of the nets so successful people are involved in a lot of different ways of making money online.
In the next post, we will look at some of the tools available to us to give us a much faster way of finding these small but lucrative niches.
Leave your comments on dominating niches below…I’d love to hear your feedback!
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Hi Davin
What a great article. I agree wholeheartedly with your comments.
I have searched and found a small number of products in the Niche market which I believe will have an appeal in todays economy.
Following on that, I am in the process of finishing an eBook also in the Niche market but should have great appeal to a large number of the population here in the U.S but also in the U.K.
If successful I have already planned the two follow ups.
This business takes time to build and we have to be patient, persistent and above all focused. The BS you get from some of the marketeers who tell you you can “get rich quick” spending only 10 mins in the morning in your underwear has reall suckered a lot of people.
Working with Honest people on Honest sites is the way to go.
Well done Davin.
Kind regards
Tom
Thanx Tom. I’m happy to hear you are making progress on your venture. That’s great! It should only be a matter of time to see some of the fruits of your labor pay off.
Yes, you are completely right Tom. This business takes time, patience and perseverance to build, just like any other. There is a lot of BS out there, and it’s very sad, because good people get hurt by that.
Sometimes it takes people years to build themselves a good business online. At least to the point where they can walk away from their day jobs. But, I think you’ll agree, that in the end it’s all worth it. The freedom will be there eventually, if the effort and hard work is put in. I think that point alone makes it all worth it, even if it might take years to build.
At least, those are certainly my feelings on it.
Thanx again Tom….be blessed.
Davin
Hi Davin.
Small niche is fine by me. Actually that happens to be my business - Learning Difficulties. Talking about difficulties, I have no problem selling our books to specialists teachers personally. Our Workbooks are definitely good, teachers love them.
I have a problem selling them on line. My visitors are looking for educational material BUT not for this niche (that is my guess anyway.)
Thanks for your good work
Tom
Hi Tom,
Thanx for the comment. I had a look at your site Tom. I’m wondering, have you considered that the problem may be in your followup? In all honesty Tom, a good 80 to 90% of sales will result from having a good followup system in place. I’m talking about getting yourself a squeeze page or opt-in form of some sort on your site. Let people fill out their name and email address…let them download samples of your materials in pdf format etc. which should entice them to look further into it.
Create a series of emails to followup up with them. This will remind them of your products, allow you to further create a relationship with interested parties by providing them helpful content, remind them of the benefits of your products etc.
Something to keep in mind Tom. If you are not getting your visitors onto your mailing list, or “followup” system whenever you can, you are seriously wasting the traffic that you get to your website. More often than not, a first time visitor will not return to the site ever again. It’s just the way it is…lots of people forget pretty fast where they have been while searching on the internet, and what sites they have visited.
Also, it is a proven fact that to turn a prospect into a customer, on average, it will take seven reminders of your product or service to convert them. I’m not talking about spamming people. I’m talking about good informative followups that provide value for them. This can all be put on auto-pilot for you. Yes, you may lose some subscribers in the process of your followup emails. But in reality, losing subscribers along the way is really a way of weeding out the people who are seriously interested in your products, or people who are just not ready to make a buying decision yet. Often times, many people have no way to purchase things online. While it’s great to provide helpful information to people, the people who end up unsubscribing usually will not end up being customers for your business anyhow.
Personally I use Get Response as my followup system. Aweber is also one that is highly recommended. These two in particular have the best service of this type on the Internet for getting your emails delivered, reliability and great support. These do cost a monthly fee to use, but, it’s well worth it when you consider what it does for your business.
There are also systems that you can install on your own hosting account. I’ve used many in the past that were complete garbage..bad buggy scripts etc. There is one I can recommend which is called Interspire. I share a system like this with my friend Holly for portions of my mailing list. It’s the only one I would recommend, after being through lots of problems with others in the past. Yes, it’s a little pricy…but, you only ever have to pay for the system once, and it’s there forever. You don’t have monthly payments.
Either way Tom, I guarantee that if you start doing this with your visitors it will improve your sales and your business. Then, you could concentrate your time on getting as much traffic to your site as possible, and perhaps look for ways to improve the sales copy on your web site etc. That is something that should always be tested and tweaked until it’s performing optimally and converting prospects into customers.
I hope that helps out Tom…and all the best to you!
Davin
Great post, after having only moderate success in the IM niche. I’ll keep a foot in it just if for no other reason than the info that is shared and kicked around. I have been busy writing articles in prep of entering a niche I found that feels very relevant and if it is as relevant as research indicates could be the only thing i will need to do to provide myself the income I must have. That would be sweet for me.
Great post Tom.
dons last blog post..The ProjectPayday Training Manual.
Sounds exciting Don. I hope it works out for you. Let me know….it’s always great to hear of success!
Davin
I think you’re right about niche marketing as long as the niche is large enough to create a good income. You have a great article with wonderful information. I hope everyone will talk a look at this and consider the possibilities.
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I think you?re right about niche marketing as long as the niche is large enough to create a good income. You have a great article with wonderful information. I hope everyone will talk a look at this and consider the possibilities.
Davin, you are absolutely correct. The small niche is the place to be in a google driven world. The larger markets will overflow with people to do business with. In the small niche, you may be one of only two or three. Then relationship and expertise will become the final factors. Great post!
You say, “it?s a lot easier to crack a market and begin dominating several other smaller niches, than it is to jump in and try being competitive in the IM niche.”
I agree. That’s why I started in a small mental health niche - bipolar disorder. Health is huge. IM is HUGE.
yeah boyeeeeeeeeeee….I can agree on all levels that when you step out of the IM niche and put your skills to work the results are crazy!
However, I don’t think any niche is too big, or too competitive if you’re coming with a unique angle to the whole thing.
If you go into a huge niche that you know people are already spending money in, you stand a chance to get a piece of that action.
Sometimes people try too hard to find a small niche and end up not making any money at all with it.
A lot of times it’s easier to get started in the larger niche, just to get your first taste of money online.
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Yes, well there are certainly valid points made on both sides of the coin. Competition can be a good thing, for sure. There is obviously money being made. I think it’s important to find an “interesting niche” to.
I know what you mean, by trying to hard to find a small niche. Often times, if it’s something a little to “obscure” you won’t find a whole lot of action, particularly if you are trying to blog about a certain subject.
Have you ever tried blogging about “tankless home water heaters”? LOL….
Dav