All posts tagged Niche Marketing

Niche

How to Find the Right Niche?

One of the biggest mistakes you can make is picking the wrong niche when it comes to building your online business.

Picking the wrong niche will be detrimental to the success of your business and you will find it nearly IMPOSSIBLE to make any money if you haven’t done your research.

If you pick a niche that isn’t hot you are setting yourself up for failure, because although people may be looking for information in that niche they may not necessarily be willing to spend money.

Most people end up choosing the wrong niche because they pick what they are interested in and do not properly research what is actually selling.

You want to not only get into a market full of people who are desperate for help, but a market full of people who are willing to spend.

As stated before, they must need to have a problem and be looking for a way to solve that problem.

Some people may be looking for a way to earn extra income for bills, vacation, financial freedom, or a better means to provide for their family.

Millions upon millions of people are struggling with addiction, losing weight, getting lean, or encouragement.

There is an array of situations or circumstances that people have daily and are constantly looking for solutions online.

To make it simple for you if you are just looking to get your feet wet three huge markets to choose from are health, wealth, and relationships.

These are fairly broad, but can be broken down to more specific things with the right research, which leads me to discussing four keys that make a profitable niche.

Four Keys to a Profitable Niche

1) Are there lots of offers to promote?

If you are looking to make profits in any niche you must be able to have a wide variety of offers or products to promote.

An offer shouldn’t be any old products.

As we discussed before is should be something that is relevant and provides a solution.

Providing offers is how you make your money, therefore it is important to have an array of products to present.

2) Are customers in this niche buying?

 If you want to run a profitable business people will need to be willing to actually spend money on the products you provide.

If customers are not willing to make a purchase then there is no way for you to produce revenue.

They also must be willing to buy what you promote online.

If you are electronics people may get all the information they need from you and go by from the local electronic store.

That’s probably not a good niche for you to be in.

3) Can you market to this and make a profit?

Some niches you might choose may fit in the first two questions but may be so expensive to market that there is no way to make a profit.

This would apply to the super niches that big brands or big time marketers spend mega money on for traffic.

Not only is the competition high, but also the cost to spend on paid advertising.

Your best bet with these would be to narrow down the niche into something more specific or specialized.

Lastly,

4) Do you have an interest in this niche?

Is it something that interests you?

Most people will say passionate, but if it’s something you like and are willing to spend time on you don’t necessarily have to be passionate about it.

The point behind being interested though will make it much easier for you to research, create content, share information, and promote products that can help your subscribers.

Don’t be afraid of a little bit of competition.

Competition should not be looked at as a negative.

If there is competition in the niche you choose that means people are making money and people are spending money.

Try to create your space in that market and dominate it.

Be creative and learn how to be better than the competition or more memorable.

Best Wishes!

Target Market

Finding Your Target Market

No matter what you are selling you need to understand your customer base and appeal to their wants and needs.

One of the biggest mistakes you can make as a marketer is believing your product or service appeals to everyone across the board.

Your best bet is to narrow down your target market and provide a specialized product or service for that group.

It’s much better to have a market of raving customers begging for your product, then having to go out and convince people that your product is for them.

A target market of people excited about what you have to offer will often pay more and they will most likely benefit from your product or service.

What is a Target Market?

A target market is a group of individuals a business chooses to aim its marketing efforts in hopes of making a sale pertaining to their product or service.

It can be separated by many different aspects.

Some of which include: Location, Age, Gender, Race, Education, Income, etc.

If you want to maximize sales its your duty to narrow it down by figuring out whom you want to target, figuring out what they want, and filling that void.

Defining Your Target Market

1) Analyze the Competition

When most people think competition they think negative things.

Competition actually isn’t that bad if you are in the right niche.

It lets you know that people are spending money in that niche and are looking for the products and services in that niche to solve customer problems.

For instance, if you choose a niche like Fitness there is much competition because people are spending billions on fitness related stuff.

If you can narrow down a more niche specific market in the fitness space like toning thighs, then you can create a series of products and services for people specifically looking to tone their thighs.

You have narrowed it down and can now focus your efforts on solving the needs of that customer base.

2) Analyze Your Product/Service

Write out a list of each feature or benefit your product/service can produce for the customer.

Figure out creative ways to separate your product/service from the crowd and build your marketing campaign around that.

Explain to your target market the benefits they will receive and how much better their lives will be with what you have to offer.

Tap into the psyche of the customer and use the benefits of your product or service to touch on the pain points they are having.

Think about your market and figure out a way to be unique with your marketing.

Learn how to separate yourself from the competition and quickly become the ‘go-to’ person in that niche.

3) Choose Your Demographic 

Figure out who has a need for your product and who wants it.

The following factors include: age, location, gender, income level, education level, occupation, race, or marital status.

You can break it down as narrow as you’d like if there is a chance to benefit from it.

Too deep may not be good, but large enough to have enough people to make it worth while.

Defining the right target market is the hard part and will take some work.

Research will be needed and it may take some trial and error.

The trick is to find the perfect balance.

Once you know who you are targeting it will be much easier to figure out how to market to them effectively and create a business of raving customers.

Best Wishes!

Expert

Niche Marketing: How to Become the “Go-To” Expert

If you want to be known as an expert, separating yourself from the crowd is important. There is so much information on the Web and so much to process.

People want to feel comfortable with trusting the information they are viewing is valuable and it should be your job to provide that.

One of the fastest ways to increase your brand awareness and business is to be seen as an expert in your niche.

If you are looking to break into a new niche and looking to generate business quickly positioning yourself as authority is vital.

Three simple ways to stand out from the crowd and position yourself as an expert include:

1) Using Social Media to Create a Presence

If you are looking to quickly build your presence as the “go-to” person it’s important to build your brand online.

Namely social media sites like Facebook, Twitter, Instagram, Linkedin, etc.

These platforms frequent millions of visitors on a daily basis and it is your job to provide them with the content they are looking for.

You can share content and interact with other experts in your niche which in turn will build your credibility as the go-to person.

This process is time consuming, but can be fun if you are doing the right things such as: answering questions, asking questions, posting articles from your blog, sharing articles, and doing videos.

Content is king and the more content your provide the better you position yourself as an expert.

Take the time to build relationships with people and always do your best to serve.

2) Networking

Get yourself associated with some of the people making a name for themselves in your niche space.

Those that are already established and even those who are up and coming.

When you surround yourself with people who are like-minded and as motivated as you are it keeps you motivated and makes you work that much harder.

Surround yourself with people who are doing things similar to you and build a friendship.

Communicate often and feed of each others strengths, failures, and ideas.

Friendly competition as I’d like to call it.

While these people may be your competitors turn them into allies and learn how to earn, work together, and grow together.

Discover ways to attract new business and reach new prospects.

It won’t be easy, but in the long run it is worth it with the right dedication.

3) Write a Book

I was told one by one of the leading bloggers online that one of the quickest ways to becoming considered and expert online was to write an Ebook.

This by far puts you in a position of authority because people get to actually read something with your name on it and apply what they’ve learned.

You then can get testimonials from the customer, which really boosts you up as a leader.

People love to see testimonials.

It’s a free way to build your reputation without having to explain to others yourself.

Word-of-Mouth is powerful.

Bottom line, getting your expertise and ideas into your market is a sure way to get noticed.

By sharing your knowledge with others people will naturally gravitate towards your for your leadership and knowledge on a particular subject.

People will look to be associated with you in some form.

Becoming the “go-to” expert is going to take some time, but with a little hard work you can position yourself as an authority and begin having people come to you for advice.

Using the three methods above you can position yourself as and expert and in turn use that expertise to teach others how to become experts in their niche space.

Best Wishes!