Niche marketing strategy is a widely used term - and no one really knows what to do with it and how to implement it.
Some are of the opinion that niche marketing is lloking for less competetive keywords - but is that a strategy?
It sure is just a tool on your way to success but no strategy!
what the heck is niche marketing?
Niche marketing strategy is to focus on your target audience and segment this target audience.
Example: Your favorite hobby is internet marketing and you want to use your knowledge to start a profitable internet marketing consulting business.
Ask yourself the following question:
Who can be my customer?
So at first sight - everyone who is interested in earning money on the net is your audience.
As this is not really a big help for deciding what you need to do to achieve any money goal the next step is to segment this list vertically a bit more.
You should take a spreadsheet and segment this audience - important step is to think of real people - real grops of people.
So for example:
People who want to start their home business people who have an existing offline business and want to add internet to their marketing portfolio people who already started with internet marketing but have not succeeded till now ...
That gives you a good starting but you should even segment this list a bit more:
Try to find the segments in the above groups like:
Consultants who have not used the internet till now for their offline office or even more targeted - lawyers who want to add internet to their marketing portfolio
The last step is to segment the group you have found horizontally.
Now find the problems they people in this targeted fields have. Brainstorm a bit and add them to your excel spreadsheet.
Example: for your home based business owner who currently works in a day to day job - one problem will be how to start an internet business while working in my day to day job 8 to 10 hours a day.
The lawyer on the other hand may want to use the internet to drive targeted customers to his practice 24 hours 7 days a week.
As result you get an matrix of possible target customers and their problems.
So now you can do ...
You have a detailed layout what products you can produce and who is in need of that product. That makes your live a lot easier.
And best of all you will see that there are many people out there who have similar needs and can use same product with just tiny changes.
Some are of the opinion that niche marketing is lloking for less competetive keywords - but is that a strategy?
It sure is just a tool on your way to success but no strategy!
what the heck is niche marketing?
Niche marketing strategy is to focus on your target audience and segment this target audience.
Example: Your favorite hobby is internet marketing and you want to use your knowledge to start a profitable internet marketing consulting business.
Ask yourself the following question:
Who can be my customer?
So at first sight - everyone who is interested in earning money on the net is your audience.
As this is not really a big help for deciding what you need to do to achieve any money goal the next step is to segment this list vertically a bit more.
You should take a spreadsheet and segment this audience - important step is to think of real people - real grops of people.
So for example:
People who want to start their home business people who have an existing offline business and want to add internet to their marketing portfolio people who already started with internet marketing but have not succeeded till now ...
That gives you a good starting but you should even segment this list a bit more:
Try to find the segments in the above groups like:
Consultants who have not used the internet till now for their offline office or even more targeted - lawyers who want to add internet to their marketing portfolio
The last step is to segment the group you have found horizontally.
Now find the problems they people in this targeted fields have. Brainstorm a bit and add them to your excel spreadsheet.
Example: for your home based business owner who currently works in a day to day job - one problem will be how to start an internet business while working in my day to day job 8 to 10 hours a day.
The lawyer on the other hand may want to use the internet to drive targeted customers to his practice 24 hours 7 days a week.
As result you get an matrix of possible target customers and their problems.
So now you can do ...
You have a detailed layout what products you can produce and who is in need of that product. That makes your live a lot easier.
And best of all you will see that there are many people out there who have similar needs and can use same product with just tiny changes.
About the Author:
Johannes Nefischer is the founder of JohannesNefischer.com get your free Course on "Discover Niche Marketing and Implement it!" it at Internet Business and Marketing Coach - in German
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