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In this week's edition of eTips, Mike Schantz, of Cyber-Marketing411.com,
will share 3 tips to dominating a niche market.
I hope you'll enjoy the publication.
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 3 Tips
To Dominating A Niche Market
By
Mike
Schantz Copyright © 2008
Marketing to a mass market can be expensive. You often cannot target your
perfect prospective customer properly because the market is too broad with
wildly-different needs and desires. For example, if you make a living selling
life insurance, selling your product to a group of people interested in
"insurance" would be ineffective. Some need car insurance. Others need
homeowner's insurance. Still others need health insurance. To sell your product
more effectively, you need to focus on a market within a market. You need
to focus on niche marketing. This article will provide three tips you can
use to start marketing to a niche.
Identify Your Niche Market
Whatever product or service you are selling, you can likely dig deeper and
identify a segment of the broad market. Using the example above, your segment
or "niche market" would be those people who specifically want to buy life
insurance. However, you can continue to dig deeper by separating the segments
of people who want to buy a whole life insurance policy and those who want
to buy a term insurance policy. Each of these niche markets have different
needs. Speaking to those respective needs is far more effective than speaking
to the needs of a broad market.
Reach Your Niche Market
Once you have identified your niche market, you need to figure out how to
put your message in front of them. Most niche markets are comprised of people
who congregate amongst each other. For example, those people who have suffered
the experience of having a spouse cheat on them share their experiences with
each other on several online forums devoted to the subject. If you are selling
a product or service targeted to that niche market, you can easily reach
them there.
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Also, you can reach niche markets
easily through advertising on the search engines. Using the "cheating spouse"
example above, you can advertise on Google using their Adwords program. When
someone types "catch my cheating spouse" into Google, your ad can be displayed.
This can be a very effective way of reaching a tightly-focused niche
market.
Speak To Your Niche Market
After you have identified your niche market and discovered ways to reach
out to them, you need to create a selling process that converts prospects
into paying customers. As mentioned above, every niche market has unique
needs and desires. It is easier to speak to those unique needs and desires
if you focus on a small segment of a market.
For example, assume you are promoting a dating service. Your selling process
to convert men into paying customers will likely be far different than your
process of converting women. Each gender has different needs that you can
speak to if you segment the market. Further, each gender often responds
differently to various selling techniques. Segmenting a market into small
niches gives you the opportunity of speaking to each niches' unique needs.
Niche marketing is about focusing in on a segment of a market. You can accomplish
that by first identifying the group of people within a broad market who have
similar needs or desires. Then, you need to find ways of reaching out to
that niche market of people to expose them to your product or service. Lastly,
you need to create a selling process that speaks to your niche market's unique
needs and desires. If you follow those tips, you may be surprised at how
easily you are able to convert your prospects into customers.
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