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Many online marketers have tried niche marketing and failed. Because of this, there are now a number of myths that have emerged. Myths that you should know about and why they are not true.
Myth #1: With niche marketing, you can make fast and easy money
You may have heard or seen a product around niche marketing that claims it’s a fast and easy way to generate an income online.
This is not true.
Yes, there are many ways you can make money online and niche marketing is one of them. Some ways are easier than others and yes, some ways are faster than others as well. Think about this… if niche marketing was the easiest and fastest way to make money online why isn’t everyone doing it?
Don’t go into niche marketing expecting to become rich overnight. I am sorry to inform you, but that is not going to happen. Just like with many things in life, its takes time and effort to do it right and become successful at it. It takes time to find the right niche. It’s not that hard to start up a website but then you have to fill it up with high quality content and drive targeted traffic to it.
Myth #2: All profitable niches are saturated.
This is the one you will or do probably see most often, when it comes to niche marketing. Even experienced online marketers believe this one, but its not true.
A niche can never be saturated - It just doesn’t make sense.
Always remember that competition is a good thing. Why?
Because it shows you that there’s demand. It shows you that there are people spending money in the niche.
Myth #3: “Make Money Online” or MMO is the only profitable niche.
Not true. Although this myth is the most believable one, it is still not true. Yes, you can profit from this niche but there are so many more you can profit with too. Actually, its other niches is easier to profit in that it is to profit in MMO.
There are many other niches that people make great profit in such as; parenting, gaming, relationship advice, health and fitness, and so many more. Go to sites like Flippa.com and take a look at the websites there that are selling very well, in all kinds of niches.
Myth #4: You need to be an Expert to succeed in a niche.
Another popular myth, when it comes to niche marketing. This is definitely NOT true. Nobody knows everything and nowadays, there are so many ways for you to become knowledgeable in any niche pretty quickly.
If you study a particular niche for a few hours then you’re going to know more about that niche than a lot of other people.
Myth #5: In order to succeed with niche marketing, you need technical skills.
Although ridiculous, this one pops up pretty often. A few years ago there may have been some truth to this but nowadays everything is super easy, if you have the right mindset, and you don’t need any technical skills to succeed with niche marketing.
Additionally, you can simply find someone else to set everything up for you for just a few bucks on places like Fiverr.
Niche marketing is popular amongst the internet marketing crowd but many make lots of mistakes with it and then claim it doesn’t work.
Niche marketing does work, you just need to do it properly. You have to avoid some common mistakes. The most common mistake is choosing the wrong niche, so pay attention.
Mistake #1: Do not choose a niche based on products
Coming across a product that looks good and creating a website around it, is not a niche marketing website.
Niche websites solve issues or problems for people. Products change all the time so if you create a website around a specific one then it can soon become obsolete. Therefore, you must be committed to solving problems instead. When focusing on solving the problem, you can now find products that will help others with that problem.
Mistake #2: Following your passion
I’m sure you’ve heard the advice to follow your passions. It seems like there are many online entrepreneurs that recommend this. Sure it makes sense to do something that you’re interested in or passionate about but what if you don’t make any money in it? Would you then loose your motivation to keep going?
You don’t have to be totally passionate about a niche in order to succeed in it. It IS possible to develop an interest in a niche and become successful. If you choose a niche that will eventually bore you or goes against the grain in some way – then you will fail.
Mistake #3: Not validating a niche
Don’t just start working on a niche because you think it’s a good idea or someone recommended it. You’ll totally be relying on luck this way which is not the best strategy.
Make sure your niche idea has demand and people spending money in it. If either one of these is not there, then your chances of success are extremely low. So take the time to validate your niche idea.
Mistake #4: Looking for an easy niche
A nice sized niche where people are spending money and has little to no competition may be asking for too much. Although this type of niche does exist, it may not be worth trying to find. New niches don’t exist.
If there is no competition in a niche – run! People may have already tried to make money from it before you and failed.
Mistake #5: Thinking you have to be an expert
Just like myth #4 above, this is also a mistake. A lot of online entrepreneurs continue to make this mistake when trying to choose a niche. If one believes he or she needs expertise in a particular niche, he or she will dismiss that niche even if the niche has a good market size.
You do NOT need expertise to succeed!
Yes, you must know something about the niche but again, you do not need to be an expert.