by Vickie Morrow
Do you think because you have a web site, they will come?
Do you think everyone is your prospect?
Who is your targeted niche market?
- Small Business Owners
Do you want to maximize your efforts, spend less money and time for bigger results? Do you want relationships, trust, respect, name recognition and referrals?
Would you like for your prospect to make the decision to do business with you before they know they will?
What did I just say?
People make their buying decision in their mind before they actually take action.
They visualize themselves in the free car offered by your company.
(They decide to work with you and your company because they visualize themselves in their dream car paid for by you company).
Their swimsuit cover up does not have to go to their knees because they are slimmer.
(She decided to loose weight before going to Tahiti on vacation).
The grocery list is made before they reach the store….
Let’s look at exactly who you want to and can reach online.
Don’t forget, the Internet is world wide! Thinking cross-culturally, half of the internet users are outside the U.S. and easily read the English language.
It’s a BIG market out there on the World Wide Web!
You don’t have to attract the millions you only need to attract a few thousands. Wouldn’t you rather have 10,000 loyal customers than 1,000,000 single buyers? Robert Allen, Multiple Streams of Income.
Over one million people CAN use your product or service. Who is LIKELY to use your product or service? One of the best ways to do this is to find a target or niche market.
First we’ll start with product.
What product are YOU marketing? It is amazing to me that the biggest problem with most marketers is they have never defined what they are selling!
Your business may have more than one product. You need to decide what product or products, or product category you like the best. The products or results you get passionate about are usually your better choice.
Remember business ownership is a product with referral and affiliate programs.
Go to your company web site, catalog, whatever medium you have and select no more than three products or product categories that excite you.
You’ve selected your products or services. Take each product separately to find your niche market’s motivation.
- Write down all of the reasons people want, need or desire your product.
- Write down all the fears they may have associated with buying it. ( won’t work, poor value, breaks easily, tried others that didn’t get results desired…)
- Write all the fears they may have associated with not buying it. (I will still have the knee pain, lack of energy, won’t have money to send children to college, will have to work menial job after retirement, have to go back to work when the children go back to school…I will look chubby in my swim suit)
Remember your prospect wants to satisfy a motivation. Your product is just a means to an end.
- Write down all the features of your product and product category.
- Write down your offer and guarantee.
- Write down your service that will satisfy your customer’s motivations.
Now, with this information you are ready to define your targeted niche market. You know what they are looking for.
On the internet, just like off the internet, people see themselves as individuals and want to be treated that way.
As you go out into your target market areas on the internet and build relationships you are helping them make the mental purchase.
They buy where you are pointing people to get the information. Usually that is your personal web site, or through your personal web site.
Do you already have a targeted niche market?
Take a look at your customers. Do they have anything in common? Do some of them play sports, the same sport? Are any of them fishermen? Do they do the same kind of fishing?
One network marketing distributor for a health products company looked at the demographics of her downline team partners and realized the majority were health or physical education teachers or coached at the junior high and high school levels.
She now has great success targeting a niche market of female physical education teachers who are married, have children and are members of the same professional association. All on the internet!
WHAT IS A NICHE MARKET?
A niche market is a narrowly defined group that includes all of the following:
- Individuals in the group have the same specialized interests and needs.
- They have a strong desire for what you offer.
- You have (or you can create) a compelling reason for prospects in the group to do business with you instead of with someone else.
- You can easily reach individual prospects within the group.
- The group is large enough to produce the volume of business you need.
- The group is small enough that your competition is likely to overlook it.
By narrowing your focus to a targeted niche market is where maximizing your time and efforts comes in.
For example, some businesses describe their target market as Anyone who wants their own business.
- Executives who want to get out of the corporate environment and start their own business.
- New mothers who want to start a home based business.
- Students who want to generate some extra income.
Anyone who wants to feel and look better.
- All women
- All men
- People who have animals
These are broad audiences. How are you going to cater to specifically defined personal interests of individuals in this group?
Any promotional message to this group would have to be very general.
Do you respond to general talk? People respond only when they feel you are talking directly to them about their individual needs.
What are the special advantages of having a niche market?
- A highly defined, small niche market can insulate you from competition. Other businesses owners or sales people are likely to overlook it.
- Large businesses will find the market segment too small to bother with.
- You can establish relationships and referrals in smaller communities than in large impersonal ones.
How do you Find Your Targeted Niche Market on the Internet?
What do you say when you get there?
Is your target market specific enough that you can develop your sales messages so sharply focused that prospects believe you’re talking specifically about them and to them?
Find your niche market on the internet.
Tailor your sales messages to the specific interests and needs of that niche market.
You’ll see an immediate response and watch the increase in your sales and profits.
It Is Your Business and It Is Your Bottom Line!
Vickie Morrow is a professional marketer and Internet Entrepreneur. She lives in Phoenix Arizona. You can read her story and contact her through her web site at inoutdecor.com.