Choose Niche Markets traffic nws duiih
Choose Niche Markets
Go to a specific market niche brings great advantages. However, is usually presumed to be tightly focused implies lower sales or fewer opportunities to grow the business profitably. And it is precisely the opposite.
Trying to reach the market in an undifferentiated manner makes generalist, with few options for profitable growth because it is easily replaced by someone with the same features and benefits, but with a lower price. It is to stop targeting him achieve 1% or 2% of a huge market, 30% or 40% of a much more specialized market. It is much more profitable.
Life cycle of the Niche
Stages of life of a niche market are similar to those of any other product. The classics: introduction, growth, maturity and decline. But these stages occur differently when we are dealing with exclusive products such as the market niches. We have entered the era of rapid niche. Those who appear, are developed they are transformed and disappear in a short period of time. It is true, that there are still those traditional that persist and remain relatively stable. They manage to maintain their competitive edge during a long period of time. But the trend in the market today is very different. A new landscape, in which concepts such as managing change are gaining strength have led to a number of certain factors, which we discuss below.
One of the greatest errors committed to choosing a niche market for a business on the Internet is the choose a niche too widespread.
Many web entrepreneurs think that, if you are selling as many people as possible, they will succeed. They do not dare to prosecute a very specific market for fear of losing customers. That is why it is so important that you choose a rather narrow niche to choose the category for your membership site and so we are going to consider the following aspects.
Less costs Choose Niche Markets
When we know what market we serve, we focus our energies and our promotional resources to him. For example:
Real estate agent:
Market: Single mother looking for your first home.
Age: from 33 to 36.
Income: Between $45,000 and $50,000 per year.
Area: To a radius of 50 kilometres.
With this information you invertirías in promotion in a national newspaper? You invertirías in a club of married women? On the contrary, you could invest in a few pamphlets that speak the language of it with specific messages to attract.
You invest in an advertisement in the Classifieds of a national newspaper. Let us suppose that it costs $100 but you only get 3 calls. Now suppose you invest $100 in a few pamphlets and repartes them in the child care center where there are single mothers with the revenue. What is most effective?
It is much easier to market. To know your niche, you will also meet your customers purchasing habits and perfectly know how to reach them with your message.
You speak the same language of your customers. While you more understand the needs of your niche, you better you communicate with them.
You can generate higher incomes. As an expert in your niche, you can ask for better fees and you will be able to offer a variety of services and products which will constitute multiple sources of income.
Create unique products
Work within a very specific niche, allows you to create unique products that give your customers something that can not find anywhere else.
Imagine for example that you you love playing virtual games. You've purchased the last game with multi-aplicaciones for your PC. If you develop a small manual and what do you get for sale to fans of virtual games in learning new software management guide, you've created a unique product. Because it is a new game, there will not be many other people selling this kind of content yet (assuming that your product arrives at the market in the first place) and you'll be providing a product to a very specific group of customers.
It might seem a too small group, but let me tell you that if only 10% of people looking for the keyword "virtual games", bought your product, assuming that this had the very low cost of $10, we would be talking about $165,000 dollars of income. But being more realistic, if at least 3% of those customers who are very interested in the topic that handles your product, buy, we would be talking about $49,500. Thus already is so small the niche right?
Types of market segmentation
Geographic segmentation: subdivision of markets based on its location. It features accessible and measurable.
Demographic segmentation: used very often and is closely related to demand and is relatively easy to measure. Among the best known demographic characteristics are: the age, the gender, income and education.
Choose Niche Markets
Psychographic segmentation: Is to examine attributes related to thoughts, feelings and behavior of a person. Using dimensions of personality, characteristics of the style of life and values.
Segmentation by behaviour: refers to the product-related behavior, using variables such as the desired benefits of a product and the rate at which the consumer uses the product.
Market segmentation is a way to look for new opportunities in the total market through the real knowledge of consumers.
We can assure that the segmentation and positioning are complementary activities, which are dependent on each other so that the product can remain in the mind of the consumer target for a long period or even permanently.