Helpful Questions and Tips on Niche Marketing

At niche websites we have many niche websites for sale already up and running with all the hard work done for you. For more free advice and information please visit http://niche-websites.info

My clients and students are surprised and delighted to discover that a refined niche marketing strategy not only attracts significantly more business but also provides richer opportunities for self expression. To help you discern your own market niche, try using “where” and “who” questions like the following:

“Where” Questions

Where do you consistently find kindred spirits?
Where are you most credible?
Where is there the greatest need coupled with the greatest appreciation for your work?
Where do the people who need your work most often have breakdowns that would cause them to hire you?

“Who” Questions

Who is naturally drawn to you and to your work?
To whom are the things that seem obvious to you a revelation?
Who is traveling a path that you have successfully walked yourself?
Whose language do you speak?
Whose concerns can you reliably anticipate and address?
Whom is it easy for you to serve?

Knowing and working from your strengths are essential parts of developing your niche marketing strategy

There are probably several ways in which your strengths can add value in the marketplace. Therefore, developing a niche is a process of exploring several possibilities and gradually refining them.

You might think about developing a market niche as akin to planting a garden. You start by planting lots of seeds rather close together. As these germinate, you keep the strongest sprouts and remove the others. As your garden grows, you will continue to thin and prune until only the strongest and healthiest plants remain. Along the way you give away or compost the seedlings and trimmings; nothing is lost.

As you refine your niche marketing strategy, you’ll grow in integrity and confidence. With time, you’ll know with certainty which customers are right for you, and you’ll attract more of them.

Are You Afraid of Using Niche Marketing Because it May Turn Away Business?

As you refine your market niche, you may experience some anxiety that focusing on your niche will deprive you of needed business. What do you do if someone outside of your niche wants to hire you?

Talk to them. See how well you fit. There is nothing about a focused niche that says you cannot work with a variety of clients. The point of a niche is not to confine you, but to create the healthiest ecosystem for your business. Focusing your market niche is like focusing a great searchlight that can be seen for miles around. Your searchlight may attract people from beyond your niche precisely because you have defined that niche.

While you always have the option of working with anyone who is attracted by your focused niche, do beware of trying to be all things to all people. Not only are you likely to fail at this, but you run an increased risk of coming across as inauthentic and insincere. The cost of not applying a niche marketing strategy is not being recognized for the offer that you are and not having a fulcrum from which to leverage that offer for increased effectiveness, service, and prosperity. The longer you persist in marketing to everyone and anyone who could conceivably hire you, the more certain it is that you will burn out, leaving yourself and your clients or customers dissatisfied. In order to make a compelling declaration of what you are up to, you must be willing to say “no” to those clients, projects, and possibilities that are not well within the scope of your passion and your expertise.

It is important to look to the market to see what your prospective customers and clients want. But look with a keen eye for how the needs and desires of the market match your strengths, talents, and passions. Say “no” to the opportunities that are a poor match, so that your vision and resources can be focused on the projects and relationships that are most likely to succeed.

 

Internet Business Ideas: Niche Marketing - Internet Marketing

At niche websites we have many niche websites for sale already up and running with all the hard work done for you. For more free advice and information please visit http://niche-websites.info

 

BusinessMarketingAgency.com - According to Wikipdia, the free encyclopedia, a “niche market is a focused, targetable portion (subset) of a market sector”.
Using this definition, niche marketing is the process of finding and serving market segments, that are too small for big companies to serve them profitably defined by the volume of sales.

 The key to niche marketing is to find and develop a service or product that is in high demand for the small group of potential customers, but the number of these customers is still high enough, so that you can be potentially profitable nonetheless.

The service or product should be selected based on the unmet customer need. To maintain a profitable volume of sales, niche marketers are reliant on the loyalty of customers. To increase the customer loyalty it is important to focus on the quality of the product or service provided, this will generate customer satisfaction, trust in the product or service, and consequently sales.
How to find a niche that is profitable for your internet business?

The most important and difficult task to do when starting niche marketing is doing site research. As with any business it is much easier to start with something that you are interested in and excited about. Since this is an internet home business, and most traffic (85%) to the websites will be determined by the big three search engines Google, Yahoo and MSN, it is a good place to start your research from.

This research should focus on the following three aspects, as described above for a niche market:
High demand: Using tools like Inventory Overture (http://inventory.overture.com) you will be able to find out whether the product you have in mind is wanted. Type in your niche market term describing your product and you will see how many searches for this term and other related terms were done in the past month. The number of searches per month will depend on the niche market, but in general look for terms that are not higher than 20,000 a month.

Low supply: Take the selected terms and type in these terms in the search engines. The results will give you an estimation how much competition there is or how many sites are available on the internet for these niche marketing terms. Ideally there should be a good balance between the number of searches and results a month. As a thumb rule, you should look for terms that have less than 1,000,000 searches per month for Google, 400,000 for Yahoo and 250,000 for MSN. Based on the balance between demand and supply you could reduce the number of terms and narrow down your market niche.

Profitability potential: Once you have the reduced list of niche market terms, you also need to know much advertisers would like to pay for each term. Use for example Google Adwords, and select for the last time based on the results terms with the highest pay per click.

With these definitive niche market terms in mind, you could be able to optimize your website for two or three of terms, by adding relevant content to your site, concentrating around these terms. Because the chosen terms (and related product) have been selected based on three criteria which are typical for a niche market and your research conducted ‘life’ with the three big search engines, you have already all the conditions to be successful in niche marketing. In internet marketing in general, most are aiming for the big fish with a lot of competition. In contrast with niche marketing, you are looking for small fishes. But if you know where they are by conducting sound research, the catch might be greater and more frequently.

Using Niche Marketing To Find A Niche

At niche websites we have many niche websites for sale already up and running with all the hard work done for you. For more free advice and information please visit http://niche-websites.info

Niche markets provide a product or service for a specific group of customers who have very specific needs. One of the biggest mistakes that new online business owners make is ignoring the concept of niche marketing and focusing on big markets that appear to be big moneymakers.

While this can be quite tempting, there is simply too much competition in the big markets. Those who are new to the online business world don’t stand a chance of competing against companies who have already cornered the market.

With niche marketing, it is a different story. Entrepreneurs can significantly increase their chances of success by focusing on specific niche markets. You determine a need and develop products and services that will satisfy that need.

Niche marketing also provides you with an opportunity to market to a very specific audience. By targeting your audience, you can easily tailor advertising and promotional campaigns that are almost guaranteed to work.

By now, you’re probably wondering how to go about finding niche markets. Fortunately, it’s much easier than one would think. The key is to find a group large enough to produce a reasonable volume of business, but small enough to be looked over by your competition.

The following steps will teach you the ins and outs of finding a niche market.

Step One
The first step involves research and may take some time on your part. If you need to, break these research sessions up over a span of a few days. This will ensure that you have ample time to properly research potential niche markets.

To start, open two Internet windows. Set one at www.google.com and set the other at http://inventory.overture.com.

Step Two
To find niche marketing opportunities, start doing a few searches in these search engines. Try basic products that you may be interested in selling, such as digital cameras, computer software, or Siamese cat toys.

y entering products into these two search engines, you can find out the number of searches the products have per month and determine how much competition exists in the market. Google and similar search engines will tell you how many results pages are out there for a specific search term, allowing you to gauge the extent of your competition, and http://inventory.overture.com will help you determine what sort of customer base you have be telling you how many people entered a specific search term in a given month.

Step Three
Analyze your findings. The level of competition that can be found in the market determines the best niche markets to get into. Though some competition is good, too much competition is bad. Niche marketing only works if there is demand and a market for the product or service that is being sold.

Though opinion varies when it comes to the numbers, in general, a word that has between 10,000 and 2,000,000 searches per month is considered an opportunity for niche marketing. Let’s see some examples:

Example 1
Digital Camera
The term yielded 1,312,659 searches and 239,000,000 results pages. This is a big market with plenty of competition.

Example 2
Computer Software
The term yielded 101,294 searches and 1,550,000,000 results pages. This is a big market with HUGE levels of competition.

Example 3
Siamese Cat
The term yielded 16,314 searches and 1,800,000 results pages. Niche marketing could work here! This has high search volume relative to competition.

Step Four
Choose your niche. Now that you have some niche markets to choose from, you can find the one that is the best fit for you. Afterwards, all that is left to do is enjoy your niche marketing experience.

 

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