When you do your niche marketing strategy research use these key factors, you will be ahead of your competition, get more visibility, credibility and profitibility – and ultimately you will make more revenue (that’s more money!) for your business.
1. What is your own connection to this niche market?
One of the things you can do is to understand and really know your market. If you have been in the same situation, or made it through the same issues / problems as your market, it is easier for you to understand them. So, if you don’t have any understanding about them you need to get on it, knowing that this is a huge part of your niche marketing strategy.
2. How much of an expert are you in this niche – how much do you know?
What do you know and what don’t you know. The more you know about the niche market of your choice, the more likely you will be successful.
3. Is there a side door into your main niche?
Smaller may be better. Your niche market needs to be worthwhile, but not too big that there is not a demographic and every other marketer out there is going after your
niche audience’s attention.
The idea is to pick a niche that is big enough. Your niche marketing strategy will be that there is a market, but not too big. You want a clearly defined prospect to target. Nine out of ten times 15,000 people in a market is to small and really big markets can be disappointing.
It really is about finding that sweet spot of not too big and not too small.
So, if there is a big market you want to target?
- Then try finding a smaller niche within that market. Instead of targeting Internet marketers, target people who want to create videos, or WordPress blogs.
4. Is the market growing?
Some market fads may be fading off. Find out what is happening in your niche?
- How fast are new people coming in?
Remember to be thinking about the importance of having a distinctive specialty or niche for your business.
- When thinking about your niche marketing strategy:
Use smart marketing by saying that you focus on a niche or specific industry for a clear target market. It makes it so much easier to understand what your business is for and who to market to.
Now you can start moving towards that revenue coming in much more quickly!