If you have nothing of value to sell from home then retail arbitrage might be a better option for you. Many people partake in arbitrage to earn a little extra money, and for some, it has even become their full-time job. Retail arbitrage is the buying of goods at a low price and then selling them on a different platform at a higher price. Sales in shops provide ideal opportunities to pick up products for next to nothing. These can then be sold on eBay or Amazon for higher amounts, making you a nice profit.
Once you have a match between niche and product, test-market it. “Give people an opportunity to buy your product or service—not just theoretically but actually putting it out there,” Falkenstein suggests. This can be done by offering samples, such as a free mini-seminar or a sample copy of your newsletter. The test shouldn’t cost you a lot of money: “If you spend huge amounts of money on the initial market test, you're probably doing it wrong,” she says.
However, people can still do webinars without all of that. For example, you might have a sizable social media following and you train them every week on something to do with social media. But you will need a product to embed and sell at some point. Don't worry about it in the beginning. And by far, the best webinar platform out there is certainly GoToWebinar. Hands down, there isn't even another platform that comes close.
Publishing is dead; long live the e-reader! Now that anyone can have their work e-published, it is possible for anyone to make a fortune off their writing. The biggest recent example is the 50 Shades of Grey trilogy, but there are many authors taking advantage of the ease of e-publishing. If you love to write and are willing to do your own promotion (and having a blog can really help in that case), writing an e-book is an excellent way to make money at home.
Members of a niche market have much in common with each other. Once you clearly identify their unique ‘pain point’ or ‘passion,’ you can create highly-focused personalized messages and CTAs that resonate and convert well. With today’s gains in big data, artificial intelligence and automation technology make niche marketing more efficient than ever before. Now brands of all sizes have access to powerful tools for prospecting, collecting demographic information, creating detailed customer profiles, testing, and then re-marketing with additional information. Using this data to connect with a niche market can position even smaller companies for success.
In instances where taking on a new niche market is not impacted by a change in language or customs, it's still vital to understand its members' key issues and how they prefer to communicate with companies like yours. For example, suppose a business that markets leather goods primarily to men through a Web site decides to target working women. Like men, working women appreciate the convenience of shopping on the Web, but they expect more content so that they can comprehensively evaluate the products and the company behind them. To successfully increase sales from the new niche, the Web marketer would need to change the way it communicates with them by expanding its site along with revising its marketing message.
It’s also possible that you run a business that has all of these different audience segments as customers, but that you need to market to them in different ways. Someone dropping several grand a week on marketing won’t need an “affordable” agency like a small business would and a small business may only feel intimidated if you talk about that kind of ad spend.
With few exceptions, such as American Idol, the Super Bowl and the Olympics, it is not common for a substantial audience to watch a program at once. Still, networks do target particular demographics. Lifetime targets women and MTV targets youth. Sports channels, for example, STAR Sports, ESPN, STAR Cricket, and Fox Sports, target the niche market of sports enthusiasts.