The 3 Steps to Profitable Niche Marketing Strategy!
Allthough there is a lot of hype out there about niche marketing - not many really now how really know how to implement a good niche strategy.
Some think that a niche marketing strategy is to focus on less competitive less searched keywords for search engine optimization. But less competitive and less searched mostly means less profitable! But besides that can concentrating on less competitive keywords be a strategy?
Not really it can be a tool - a tactic that can help you to achieve one step on your way towards your goal
So what 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.
1. Step should be to ask yourself the following:
Who is my customer?
Every one who wants to earn money with internet marketing.
This is sure no big help for you when you try to write your first salesletter for your service - as this is not a well defined niche - you would try to be everything for everyone.
Use excel to segment this list. It is important to think of prospects with same intrests.
Example:
People who want to use internet marketing for starting their home business, or people who already started with internet marketing but had no success,…
Not bad, but you should segment this even more:
Try to find the segments in the above groups like:
What about offering a service to Consultants who have no internet marketing in their current marketing portfolio - but want to start to use it. Better focus it a bit more - segment the consultants - maybe use lawyers or tax consultants,…
Last step is to segment the list horizontally
The next step is to search for all the proplems the people in your segment face.
Take a person that works in a normal day to day job - 8 to 10 hours a day and wants to start a internet business as an example, one of his main problems will be how to start a business in the spare time he has.
The laywer may want to use the net to drive a bunch of targeted presold clients to his company.
Now you have a matrix where you find possible customers with their problems.
So what to do with all this?
Now you can decide which of the targeted audience to take and which product you sell to them - as you have a very clear picture.
And best of all ist that you will be able to use many products and resemble them for anothe niche as it will just take small changes.
