October 14th, 2008
A niche business market consist of a targeted audience and a business that have the same needs and interest, which is easily identified and can work well together.
Niche marketing in general is to find a business niche that has a great product to offer and providing that product to a highly targeted prospect. Learn more about niche business market at Marketing a Niche.
Advantages and ways of finding a niche business market:
1. Find a specific product that you are knowledge about or even passionate about – your chances of becoming successful will be greatly improved. This will keep you focused on building your business and generating a reasonable amount of income while you manage your time and effort into it. You will actually love waking up in the morning to look forward to a business that you love.
2. Can you define niche marketing? – You can define your niche by doing research on the product and the niche business market before you even begin to promote anything. You need to be able to answer certain questions and get the right answers if you are to succeed in niche marketing.
a) Is there enough demand for the product or service? – If you select a broad field such as weight loss, which we know has a great demand; you will have too much competition. So you would narrow down that niche to possibly choose something like “lose fat belly,” or “lose fat gain muscle.” You are now targeting those who want to specifically lose a fat belly or gain muscle.
b) Do a research on appropriate keywords - use free research tools to find good keywords such as the Google Adwords Keyword tool. You will get lots of suggestion of what people are looking for.
Marketing a Niche
For example:
At the time I am writing this article, overture had they keyword phrase, “skateboarding,” searched 34, 890 times in a one-month period. If you searched on google, you would find 32,600,000 sites show up. That is a lot of competition.
Here is how you would narrow this niche business market down so you can have a piece of the pie: You would dig deeper and when we did, we found the keyword phrase, “skateboarding tips for beginners,” which resulted in 45, 700 competitors and 1,500 searches for the month. This is a better outcome and reason to market this niche.
Having a niche business market that you can dominate without much competition is certain to succeed.
To learn more niche marketing strategies and how to define a niche market, I highly recommend the book, Niche Business Market Success at Marketing a Niche.
October 14th, 2008
Have you ever considered how to cut down your marketing costs? Have you been thinking about not sending promotional gifts this year? What a mistake that could be!
Most people when looking at promotional gifts think about promotional pens, diaries and the likes. These are fine and easy to distribute, but usually have only enough printing space for your message. With the current financial situation you need to be thinking beyond the obvious. How can you make your promotional gifts work for you, before you send them?
Most promotional items work along the lines of reminding your recipients of you so they are more likely to come back to you next year or more likely to refer you to their contacts. Fine, but how can you put a figure on this return when business everywhere is struggling? If it important to use the expensive promotional Parker Pen to see the success?
Quite simply, get paid to distribute your own promotional products. Not a huge amount, just enough to cover the production and distribution costs. Don’t be greedy and people will be pleased to work with you and effectively your promotional products are free.
The way to do this is to sell advertising space on your products. So here I’m not talking promotional items with small print areas, I’m talking larger, but still cheap, items with plenty of print space. We’re looking at calendars, mouse mats and clothing.
Clothing is fine to litter with plenty of other logos if you are giving the items out at an event and calendars can cost that little bit more, so personally mouse mats are my favourite here. Across the top of the mousemat put your logo and contact details then split the remainder of the mat into 2. Most of the remaining space is used to display a calendar or photos of your products - this gives the mouse mat a purpose - a reason for the recipient to keep it and use it.
Then the remainder of the space is available for a few adverts or a list of recommended other suppliers. This space is sufficient to hold several logos or a dozen or more website addresses. Depending which you choose, charge a small amount per advert space and fill it up with adverts. The more mats you are producing the better it is for the advertisers - the more your advert is being seen. You can even give them one when they are produced so they feel they have got something for their cash!
But, why would people want to advertise on your mousemats? Well, it works on different levels. First, you know the recipients and they are your customers. Therefore, they will see these adverts not as adverts, but as referrals. Also, because they are your customers, you know something about them. For example, a web designer might know they are sending the mousemats to small businesses. Therefore accountants, printers and the likes might be of interest as well to their customers.
This is the special knowledge that makes this idea work - you know what your average customer is interested in - so think about what other businesses might also want to target your customers. This is a good example, but there are more low cost Internet marketing strategies to implement.
