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Niche Marketing: How to Build Multiple Streams of Niche Income as a Virtual Assistant

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A little while ago I got an email from one of my clients asking:

“As a Virtual Assistant (VA) how can I create multiple streams of niche profit?”

He then went on to tell me:

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Some of the niches I am involved in are:

 

These are some of the niches that I havechosen but my challenges are that thecompetition is too much out there, so Iwant to narrow my own down.How can I break it down more so that I canget more clients and make more profits?

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It occurred to me that there must be other VAs who find themselves in the same boat, especially if they are fairly new to the business, so here’s my take on how to build multiple streams of niche income as a Virtual Assistant:

What Skills Do You Have To Offer?

The first question you must answer is what skills do you have to offer potential clients? For instance are you an expert in databases, producing creative, companies research, bookkeeping, blogging, copywriting etc.?

My client describes all the items listed above as niches, but in my opinion only three are definite niches and they are huge:

 

The rest I would more properly describe as marketable skills that he can market to potential clients, i.e. research, bookkeeping and transcription.

Play To Your Strengths!

The list of niches my client was trying to compete in is a very broad and diverse spectrum of industries to serve and you can’t be an expert in everything. He needed to specialize. Therefore the next step is, you have to decide “which” industry (niche) to specialize in, so you need to look at them from the point of view of where your strengths and expertise are concentrated and then build your business around them.

Build Your Business Step By Step

To illustrate. If your strengths and expertise centre around “Insurance Administration” then build your business around that niche. For example your expertise might be in Insurance companies dealing in “Auto Insurance” Administration, so build your business around that niche first.

Once your Auto Insurance business is “running successfully” you could then think about expanding into another niche within the insurance industry, say “Home Insurance” Administration. And once your Home Insurance business is running successfully add “Life Insurance” Administration. And so on, get the picture?

Building your business this way will ensure that you are building your multiple streams of niche income on solid foundations.

Remember this is only an example. I know nothing about the insurance industry and it’s needs.

The point I’m trying to get across is that, by narrowing down your focus and building your reputation in each of the niches you choose, one by one, you should be able to establish yourself as an expert in the industry (niche) you choose, this in turn should help you command higher fees.

Of course, before you go barrelling into a niche, you should do the research to make sure there’s a demand for the skills and expertise you have to offer.

You should also figure out what your unique selling proposition is (What makes yours different from all the other similar businesses out there). If you don’t know how to go about this there’s lots of info. online, just Google “how to create a USP”.

Virtual Assistance is, I know, a highly competitive business, but so is most online business. There’s a high demand for Virtual Assistants with specialized skills so figure out which niche areas you have the most skills and expertise to offer and you should be able to build a successful business with multiple streams of niche income coming in.

Copyright © 2009, Andre Anthony Niche Market Know-How

Andre Anthony owns and operates Niche Market Know-How a resource for beginning Niche Marketers. Visit http://www.nichemarketknowhow.come today for strategies, tips, tools, products and resources for effective niche marketing. For more information on becoming a successful Virtual Assistant visit: http://www.nichemarketknowhow.com/niche-ideas/virtual-assistant.htm
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Why Should You Use Niche Marketing?

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What a lot of people don’t understand is that almost any form of marketing is niche marketing. If you aim at a target audience for your product or service then you are effectively targeting a niche. Most people need to focus on their marketing efforts and choose a proper niche instead of trying to “spread the net” and aim at a bigger audience instead of targeting a smaller niche.
When you market towards a target audience you’re always going to get more targeted leads which will effectively convert in to targeted buyers. This is why picking a niche and marketing to it effectively is the key to a successful online business, or any business for that matter!
You wouldn’t start a marketing campaign selling a product about google adsense and aim it at every internet marketer. It’s true that a lot of internet marketers will want to use google adsense but you need to focus your attention on the people who are actively buying google adsense products and using them in their everyday business.
The three things you need to do when targeting a niche are :
1. Research your niche. It’s useless to pick a niche and then jump in without researching further. You need to spend some time reading all you can on the niche and get involved yourself and become a part of the community. This is the best way to research your niche and gain valuable insights in to how you will market towards this target audience.
2. Plan ahead. Once you have researched your niche you need to take some time out and write a plan of your next steps. Sit down and list the different selling points that apply to your niche. Work out the things that will turn your niche off and avoid them at all costs.
3. Find out exactly what your niche wants and give it to them. It actually is that simple. Once you identify the needs of your niche then you’re half way there. Give them what they want and they will want to buy from you.
Two of the best places to research your niche are my space and you tube. You can find and join groups related to your niche on my space and easily find out what your target market wants. You can participate on the discussion boards and learn a lot about your niche. You can also search friends by interest and add new friends who are interested in your niche. Building a list of friends like this will also help you in the future if you plan on using my space techniques to market your products.
On you tube you can sit and watch videos related to your niche. This can give you a great insight on what people from the chosen community are actively creating. You can add new friends and read the comments about the videos and find out exactly what people thing. You can easily spot the top videos related to your niche by the amount of people who have bookmarked them and from the number of plays. A lot of people are using you tube to market to their nice now so it’s good to have an understanding of how it works in case you want to use it in the future.
Once you learn how to effectively target your niche then you will progress a lot faster in your chosen field. It’s the same with list building, if you build a huge list of ten thousand people, another marketer would probably have a more responsive list with only 1000 people on it. This would be because the list is actually targeted correctly towards the chosen niche.
So to break it all down, all you need to do is pick your niche, effectively research it. Visit the places that the target audience in your niche hang out and become a part of their community. Learn to find out what your niche wants and then create a product to suit those needs. Once you become effective at these strategies you will soon become a marketing success!

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What Do You Mean By Niche Marketing

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Niche marketing usually refers to small or moderate size businesses or farms that produce a specialty product or service for a limited segment of the market. Market niches can be geographic areas, a specialty industry, ethnic or age groups, or any other particular group of people. Sometimes a niche product can be a variation of a common product that is not produced and marketed by the main marketing firms.
By definition, then, a business that focuses on a niche market is addressing a need for a product or service that is not being addressed by mainstream providers. A niche market may be thought of as a narrowly defined group of potential customers.
It is obvious from the table that niche marketing is everywhere. Sometimes the niche served is so narrow that the product is aimed at one small group within a market. One example is the dairy operation supplying kosher milk to a large Jewish population in New York City. The dairy producer hired a rabbi full time to observe the management and milking activities on the dairy so the milk produced can be sold in the kosher market. In this case the dairy producer has a portion of the market to himself.
First of all, you have to understand what niche marketing is exactly. Think about it this way: the Internet is a highly crowded place with millions of people surfing the web at any given moment. The chances of getting your product or business out there to enough people to get a sale are very low. Not to mention, there are millions of online businesses doing the same thing you are trying to market to enough people to get enough sales to make enough money.
Using this definition, niche marketing is the process of finding and serving market segments, that are too small for big companies to serve them profitably defined by the volume of sales. The key to niche marketing is to find and develop a service or product that is in high demand for the small group of potential customers, but the number of these customers is still high enough, so that you can be potentially profitable nonetheless. The service or product should be selected based on the unmet customer need. To maintain a profitable volume of sales, niche marketers are reliant on the loyalty of customers. To increase the customer loyalty it is important to focus on the quality of the product or service provided, this will generate customer satisfaction, trust in the product or service, and consequently sales.
The term “niche” was first used by ecologists to describe a species’ position and use of resources within its environment. When used in business the term implies a situation or an activity perfectly suited to a person or a given type of personality. This concept has been extended from persons to products on the market. Whereas a niche in the strict sense can be a working position or an area suited to a person who occupies it, the market niche is perfectly suited for a product of human labor.
Do it all over again when your niche has grown old. Look at where your market has been and where it’s going. Brainstorm new products and services to add to your business mix and be prepared to respond to change. The secret to successful niche marketing is the ability to grow and evolve with the times.
Niche marketing is the process of finding and serving profitable market segments and designing custom-made products or services for them. For big companies those market segments are often too small in order to serve them profitably as they often lack economies of scale. Niche marketers are often reliant on the loyalty business model to maintain a profitable volume of sales.
By cutting through the competition with niche marketing finding the perfect niche market that they’re overlooking. While a small business may not be able to compete with the giant sites on their level. The truth is, they can’t compete with a good niche site on any level.
Take a look around the Internet niche markets are thriving. Practically every product or service sold on the Internet is part of it’s own unique niche market, a specific field or area of interest. And it’s filled with eager, hungry buyers willing to spend their last dollar on what they are passionately interested in.

Gav Shannon is a Network Marketing Professional who writes about different topics that he feels may be of an interest.If You want to know more about him go to http://www.gavshannon.com
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Low Competition Niches

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The first thing that comes to your mind when brainstorming for a new website is ‘What subject should I use?’. This is one of the most brain-wrecking situation you may encounter if you have absolutely no ideas where to start from. I, too, encounter this problem and I will now share with you the step-by-step how I choose my niches.Step 1: Popular Trends & Keywords Start by going to established websites that provide trends, search patterns, popular searches and such. These websites usually have a list of topics (read: niches) that are searched regularly by users. Here are some websites I use: •    Google Zeitgeist•    Google Trends•    Google Hot Trends•    Yahoo! Buzz•    eBay Hot ProductsBrowse through the searches done and copy down any niche that you deemed feasible into a list. Remember to choose niches that you are interested in or have some level of expertise in, else writing content for such niches will be diffcult. If you are looking to monetize your website with Google Adsense, look at Top Paying Adsense Keywords for a niche that is highly profitable but competitive.Step 2: Refine and Expand your List of Niches You should now have a list of niches, probably around 5-10 for a start. What you are going to do now is to refine the list. What do I mean? Take for example, I found the term ‘NBA’ in Yahoo! Buzz as a popular search term. Now, I don’t know about you but NBA is a very wide term. It can mean anything, ‘NBA seasons’, ‘NBA players, ‘NBA teams’, etc.When facing a niche this wide, you might be at a loss on what to focus. And such niches are usually very competitive. Not what you want, right? Use these 2 free tools Keyword Discovery and MIVA to generate a list of related sub-niches, with the search volumes included.The higher the search volumes, the more popular the search term is. Of course, the sub-niches are usually less popular than the main one. For the term ‘NBA’, using MIVA tool, I got ‘NBA’ at 70405 searches and ‘NBA tickets’ 33693. At first glance, NBA seems better than NBA tickets. I then googled both terms and got a search results of 197,000,000 for ‘NBA’ and 4,110,000 for ‘NBA tickets’.A whole 197,000,000 results for NBA! Thats alot of competition, especially for novices. ‘NBA tickets’ seems like a much better niche now. Almost half the popularity of NBA, but more than 40 times lower the competition. Another term ‘authentic nba jersey’ seems like a good niche too. Refine and expand your list of niches to less competitive ones or keep them if you want. You can also use the tools to look for niches related to those on your list.Step 3: Analyse your Niches Ok, this is rather trickly, analysing your niches. You will be looking for niches that are popular but have little competition. This is similiar to Step 2 but way more in-depth. You will want to look at the top competitors for your niches. Check out how strong your competitors are by looking at their websites.Some of the things you should look at are their… •    Number of Backlinks•    Backlinks from Authority Sites•    PageRank•    Alexa Rank•    Onpage OptimizationThere are some tools that you can use to check on all these. I recommend SEO for Firefox and SearchStatus. The Google Toolbar can be used to check for backlinks, PR and the last cached version of the webpage. These are all free add-ons for the web browser FirefoxResearching all these takes time and you won’t get all the in-depths. After analysing your competition, remove niches from your list that you deemed too tough for you. Your list of niche should now be smaller, maybe 1-5. Keep this list of niche and whenever you have time to start a new website, look back at it and see if you can work something out of these niches.

For more useful tips & hints, please browse for more information at our website:-http://www.reprintarticlesite.comhttp://www.nichekeywords.reprintarticlesite.com
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Know Your Niche Before You Jump In

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Niche markets, when identified can result in a highly profitable business model. As not all entrepreneurs are looking to get into these sometimes small ventures. So lets look at some examples.
One of the most successful independent publishing companies in business today is that of Dan Poynter, author of an how-to book on hang-gliding. Too narrow a market? You might think so, but it didn’t turn out that way. Dan sold tens of thousands of his self-published hang-gliding books under his own Para Publishing imprint. The fact that his book was highly targeted to a specific readership of persons with a shared interest made marketing it feasible for a one-man company such as his.
Another man makes a million dollars a year selling educational material to the carpet cleaning niche market. Yet another sells reports to small businesses to the tune of $25,000 a month. Take a look around the Internet niche markets are thriving. Practically every product or service sold on the Internet is part of it ‘s own unique niche market a specific field or area of interest. Plenty niche marketers do just that. For example, one man makes an easy six figure income from his website teaching self esteem to children through Karate.
Coming to the niche markets for affiliate marketing, these are services or products which cover specific demands. This niche market encompasses special kind of things, which fulfill the needs of customers that are not usually met. In order to build a solid and strong position in affiliate market, you must choose a niche product complementing your own website. You will have to make preparations to come up with a specific market for the niche product that you are to sell.
Until recently, Internet marketing meant general markets. However, the proliferating numbers of Internet marketers has given rise to severe competition in the general markets. This is when niche market came into being. Niche markets actually indicates the evolution of Internet marketing.
In essence, niche marketing is a business strategy in which (depending on the needs), real products are marketed to real people. Niches are essentially small markets. Niche markets are run by the fervor of real people who all possess enough wealth to invest on particular subject matters they are inclined to. Niche marketing caters to smaller markets that have a large following.
There are some niche markets, which draw minimal traffic. It would be better for you to work with several niches to build a feasible niche marketing strategy. With this strategy, no matter how many visitors you have, it is almost sure that you will have some sizeable profit.
Examples are custom welding and hoof trimming. So, one way to recognize the potential for a niche market is to think about those goods and services you need. Many people have hobbies they enjoy, or develop special skills. Sometimes these hobbies and special skills can evolve into a niche market. It is obvious from the table that niche marketing is everywhere. Sometimes the niche served is so narrow that the product is aimed at one small group within a market.
The South Florida Business Journal, a tabloid published in Dade County, Florida (Miami), and targeted toward the business community, is a niche market publication. It started out with just a few thousand subscribers. It still claims fewer than 20,000 paid subscribers but it is nevertheless a very successful business publication.
Even a novel can be a niche market publication. One title, for instance, might appeal to all environmentalists (a readily identifiable group). Another might appeal to all tourists visiting Savannah, Georgia (a limited geographical area). Both are niche market publications.
So really it dose not matter what niche you choose to build your business in as long as you have an audience to market it to. So before you dive in you should research your niche an ensure there is a market.

Gav Shannon is a Network Marketing Professional who writes about different topics that he feels may be of an interest.If You want to know more about him go to http://www.gavshannon.com
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How to Creating a Profitable Niche?

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Focusing on untapped niche opportunities is often the best approach for a small business. Success is easier to attain if the small business focuses on a more specific and smaller area of its target market, especially during the start-up period, instead of covering the entire spectrum of a particular market.Focusing on untapped niche opportunities is often the best approach for a small business. Success is easier to attain if the small business focuses on a more specific and smaller area of its target market, especially during the start-up period, instead of covering the entire spectrum of a particular market. For more details visit to www.googleincomemachine.com .Today’s business environment is so competitive that a cash-strapped small business best bet is to focus on developing niche products where competition from large firms is not nearly as large.Take the online auction market. With the market dominated by the giant company eBay, smaller start-ups are specializing and concentrating in a specific segment that the big players may not be serving well. Why does niche marketing make sense for a small business? You are able to more clearly define what you – and it is easier for your prospects to understand exactly what you know. By having a specialty, you are able to demonstrate a clearer and precise image. The narrower your niche, the easier your chances of establishing yourself as the authority in that niche and for people to perceive you as the expert. Also, the easier it is for clients, prospects and referral sources to remember exactly what you do.The more narrow your niche — and the more effective your marketing program — the more your business will soar. It’s no exaggeration to say that when you focus on one narrow niche, the sky’s the limit.Here’s how you can create and profit from your own unique niche:Step 1. Determine the approach you want to pursue. You can decide on your business approach in three ways: by the services you offer, by the types of customers you want, or by a combination of both providing certain types of services to certain types of clients. It is important to get a clear idea of exactly whom you want to serve and what you want to do for them.(Article continued below …)Step 2: Create a new playing field. It is important to define your unique selling proposition that will define your competitive advantage. You need to identify what makes you different from your competitors and emphasize these advantages in your marketing. Avoid the generic trap, where potential customers see you business as just one of these online dating websites.Differentiate your business. What sets you apart from your competitors? What makes your business special that customers should come to you instead of other sites offering dating services?Step 3: Describe your niche or area of specialization. After careful thought deciding on your niche, it is time to give it a name. The term you describe your niche should strike a balance between the need to set you apart from your competitors and to accurately describe your marketing process in terms your customers can relate and understand. Use fact-oriented descriptive words, instead of using fluff, hyperbole or combinations of nonsensical words. For more information logon to www.googleatmcash.com .The name you choose should describe your niche as accurately as possible, while making sure that the name is broad enough to encompass all the services that you offer.Step 4. Actively market your new niche. What good is going through the difficult process of creating your own niche if nobody knows that such a niche exists? Get out there and let your prospects know that there is such a thing as your niche. Let them know that this new niche offered by your business is exactly what they need and what they have been looking for. Create the want for your niche.Be prepared, though, to spend time educating your target market. Given the newness of your niche, your potential customers may not know what your niche is all about. They may not understand that your niche offers everything they need. Be willing to spend time and resources educating your target market.Step 5. Integrate your new niche in your marketing messages. The last step is to instill validity in your new niche. Your prospects (and even your competitors) should be led to understand that this new niche is for real; that it exists and genuine. They need to take your newly created niche seriously, and not think that the niche is just some made-up fragment of an entrepreneur’s wild imagination.

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So how do you know your new niche is right? Of course, your prospects flock to buy your products or hire your services because you are different from the rest of the pack and you are offering potential customers exactly what they want.

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