Are All Niches Taken? Should You Do Marketing For Local Businesses? Ask Aleks Vitkin Show Episode 7

I have received a question from Phil, a member of our audience, and his question is: ‘there seems to be too many people in niche markets, and too many promoting stuff online. I think it’s better to go to local shops, and increase their sales, what do you think?’

My view is that there are not enough people promoting niche markets: online marketing is growing at a tremendous rate, and with more and more products coming online every single day, that means there’s opportunity. It doesn’t mean there are too many people; it just means there’s an opportunity.

People wouldn’t be doing it, if there wasn’t any money in it. I wouldn’t be doing it, if there wasn’t any money in it. For me, I’m in one of the most competitive markets in the world, and after week two, even though I’d only just started my business, I still managed to make a significant amount of money.

It’s the same for my master mind members, they start from scratch, and they build their business to five, six, seven figure business, even though they sell stuff like websites. Contrary to popular belief, not everyone has a website, and the market is huge, the opportunities are huge.

The same goes for fitness coaching, there are a lot of fitness coaches out there, but the market is not overly saturated. Most of the fitness coaches out there have terrible marketing (no offence), and they’re not charging as much as they could be, and their business isn’t producing results.

Whereas I know plenty of people who are producing results in my niche: delivering websites in fitness coaching, and in everything else.

The market is not oversaturated. You can go into almost any market, and do something better, and people will buy from you, because you’re offering a better product or service. This depends on the premise that you are good at marketing and sales of course.

If you’re not getting clients in through your door (not deliberately of course), you aren’t going to get any sales. However, if you are getting clients through the door, and you’re closing sales, and a high margin, then your business is going to grow.

It doesn’t really matter if it’s a highly developed market. Of course, it’s better to go into a slightly less developed market.

You wouldn’t want to start a Forex company without any knowledge at all, it would be mind bogglingly complicated. Something simple would be no problem at all.

For the second part of the question: ‘would it be better to go to local shops to increase sales?’ You could certainly go to local shops, and increase their sale. I don’t know if it’s better or not, it really depends on what you want to do: ask yourself whether you want to go to local shops, and close sales with them, set up deals with them, and promote their stuff.

That kind of skill set, of buying traffic for local shops, and converting leads for local shops, like plumbers in New York. In my experience, you want to be promoting your own product. Long term it’s much better to promote your own product, and have your own specific service that’s very narrowly defined, and very easy to execute.

Something like getting leads for local business, is not necessarily very easy: there’s a learning curve over a year in my experience, in learning how to do this, if you want to do it well.

Of course if you want to start with that, the opportunity for growth is huge: there will always be a market. I prefer to develop my own brand, my own name, my own product, because it’s a much more solid business model. People are going to be trusting you much sooner. They are going to be investing a lot more money in you, if you produce results, and your name is going to spread. There’re many benefits other than that: if you go to events you can promote your name, and build a list. There’s all these fun things to do, if you develop your own brand. I highly recommend doing that, and ultimately it’s your own choice.

Find out what it takes to be in that market, and look at your competition. Look at them, maybe even call them up and ask them for prices. You can find out a lot about what the market is like by using these research methods. Make a choice, and get a mentor who knows what he’s doing, and who knows what you should be doing. If you have any questions, comment down below.