By Chris Sturk • 12/08/2011
Niche businesses need additional channels to acquire large enough market share to succeed.
Beyond building an audience through search and website traffic, it’s important to generate retail partners like Amazon and Barnes & Noble. Partnerships are how online businesses are able to open new channels to build upon the market share they need to grow.
Many online business operators do not explore retail channels right away. In most instances, it’s not that they didn’t have market access, they just hadn’t contacted the potential partners, nor did they have the horsepower to develop those business models.
Additional channels can be anything from online retailers, banner advertisements or syndicated content to portals. Most publishers rely on five to ten different channels; few can succeed relying on only one. And even if they could stay afloat with only one, they would probably be under-reaching their market – unless you’re in the big five: investing, food, travel, health or news.
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