What is niche marketing? And, are you taking full advantage of this important skill in your business?
The first thing that every business owner has to embrace is –
Everyone is not your prospect or customer!
Niche marketing is talking to the right person, with the right message, through the right medium, at the right time.
Picking the right audience and qualifying your prospects will determine your long term success.
Let’s quickly take a look at a specific market and break it down to a niche.
For example, if you market makeup. Makeup would be your general market. However, if you clearly define your group the better your results will be.
A niche for the market of makeup would be mineral makeup. To go even further would be a sub niche – people specifically looking for safe, hypoallergenic, makeup that is long lasting. Why would I waste valuable marketing resources to target people who don’t care if they use cheaper makeup from Walmart. No offense, it’s a huge wonderful market, but they aren’t who I am talking to, so I don’t waste resources on that market. See the difference?
How can you find a niche to target? Observing social interaction on the internet can help you identify the challenges and needs of a developing niche.
Google can be your best friend here. Search for “groups”, “forums”, or “discussion boards” (in quotes).
For example: makeup “groups”.
Watch best selling book lists or magazine racks to watch for market trends. Research competing services or products, so you know what is out there.
Remember, you are a solutions provider. Your passion for your product or service doesn’t mean anything if it doesn’t provide a solution for your prospect.
Clearly define your “customer avatar” (just a fancy name for “your best customer”).
Knowing what your customer wants, and, how they want the marketing message delivered, is critical.
If you are looking for a business opportunity but not sure what service or product you want to market, let the market tell you what it wants and how it wants it.
When I first started looking into marketing my product, I have to be quite honest, my first response was – how is anyone getting rich selling this? But I did my homework and researched the market to see if this was something that I could get behind. I would have missed a great opportunity if I hadn’t checked out the market.
So do yourself a favor, don’t jump into a market that is performing poorly. Your business is your future, poor planning and not listening will only create frustration. Be careful about marketing a niche that is saturated. Know that the more saturated the market place is, the more competition. You will have to be unique and the give more value to your prospect or customer.
In the words of marketing guru Seth Godin –
“Focusing obsessively on one niche, one feature, and one market is almost always a better idea than trying to satisfy everyone.”
To Your Success!
If you are happy in a business, that’s great! If you are looking for the right online business and mentor, I would love to share what I’m doing with you. Click here and let’s explore the possibilities.