How To Stand Out With Niche Marketing and Monetization Methods For Niche Marketing
Stand Out With Niche Marketing and Monetization Methods
Most niche markets worth getting involved with will have a degree of competition and if you want to truly succeed then you need to stand out from the rest. This doesn’t mean that you have to come up with entirely new concepts for interacting with your target audience.
By following the methods outlined below you will have an advantage over others in your market. Succeeding with niche marketing takes time and effort and you need to be willing to accept that. Investing money into your niche marketing business is also required if you want to be at the top of the tree.
Know your Competition
Far too few niche marketers bother to find out who their competition are and what they are doing. These days there are so many online tools and services to help you to do this it is a wonder that more marketers are not taking advantage of this.
If you don’t know who your competitors are and what they are doing in the market then you will be at a severe disadvantage. You can use online services such as SEM Rush and Similar Web to find out what the strength and weaknesses are of your competitors, the market share that they have, their marketing strategy, what they have done in the past and more.
All of this information will help you to create your marketing plan and help to create better products and services for your target market. Competitive analysis is not something that you do once and then forget about it. Things are always changing so you need to do this as often as you can.
What is your USP?
To really stand out you need a unique selling proposition (USP). This is really about what you stand for in the niche and how you will uniquely help your customers. When you establish this you can easily differentiate from your competitors.
Maybe you can offer the lowest price for similar products or services? Or perhaps you offer the highest quality products and services? Or maybe customers will get additional value from working with you rather than your competitors?
Make Quality your Priority
Make a total commitment to quality with everything that you do. If you are an affiliate then don’t just recommend any products recommend the best products. If you create your own products then make them the very best available and ensure that they provide great value to your customers.
Always add lots of value with your content whether it is on your website, on social media, email marketing or other marketing channel. When you interact with your customers do this in a quality way as well. Respond swiftly to any questions or comments and provide the answers that your audience needs.
Inject your Personality into your Niche Marketing Business
You are human and your customers are too. Tell them your story and how committed you are to serving them and enhancing their lives. People love stories and will connect with you better if you add the human touch into your communications.
Your Customers must come first
There are a lot of niche marketers out there that are just out to make a buck. Customers can see through this and will always prefer you if you have their best interests at heart. Give them value at every turn. Don’t just market to them all of the time.
Fortunately there are a number of monetization methods for niche websites. Each of these have their advantages and disadvantages which we will discuss in this article. Here are the most common ways of monetizing your niche website:
With the Google Adsense program you permit Google to display ads on your website and when your visitors click on them then you will earn a commission. At best Adsense will bring you in a bit of money that you can invest in marketing your website or to help with some of the other costs. It will not make you rich.
It is easy to sign up for an Adsense account and place the ads on your website. One thing that you need to realize is that when someone clicks on a Google ad they will leave your website and go to another one associated with the ad. This is the biggest drawback with the Adsense program.
When you are an affiliate you will promote products and services created and owned by others and receive a commission for doing this. Commission rates can be as low as 4% for physical products and as high as 100% for digital products.
Some affiliate networks make it easy for you to become an affiliate. To become a Clickbank affiliate all you need to do is fill out a simple form and you are good to go. The Amazon Associate program is a bit more challenging as you will need to tell them about your tax situation but it is still fairly easy.
Other affiliate networks make it more difficult. With some you will need to convince them that your niche website is good, meets their traffic thresholds and explain your marketing plan to them. Sometimes you will need the vendor’s individual permission to promote their products and services.
Affiliate marketing does work for niche websites and you have the potential to make a lot more money than you will with Google Adsense. The biggest drawback is that you have to make sales to earn money.
CPA (Cost Per Action) Offers
If you are not familiar with CPA then it is different to affiliate marketing in that usually a sale isn’t necessary to make a commission. A visitor to your website that sees the CPA offer will just need to complete an action such as add their email address to a form or their zip code.
There are lots of CPA offers around and finding some for your niche should be quite straight forward. The biggest problem with CPA marketing is that the CPA networks are very choosy about who they will accept.
Create and Sell your Own Products
When you create and sell your own products you will keep all of the revenue that you generate from selling via your website. You will also keep the customer as well unlike when you are an affiliate marketer.
Having your own products will further enhance your reputation as an expert in the niche. The biggest problem with creating your own products is the time, effort and money that it takes. It is best to see this as an investment as you will want to make sales for a considerable time. You can outsource elements of your product (or all of it) if you want to.
Examples of your own products could be a guide in PDF format or a series of training videos .