Niche marketing strategy is a widely used term – and no one really knows what to do with it and how to implement it.
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 along that that concentrates on less competitive keywords to 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.
For example you are an marketing freak.
And you want to open up your own internet marketing consulting service.
Your first step should be to ask yourself:
Who is my customer?
Every one who wants to earn money with internet marketing.
As this is not really a big help for deciding what you need to do to achieve any money goal the next step is to segment this list vertically a bit more.
You take an excel spreadsheet and write down all possible customers – important think of persons!
So for example:
People who want to start their home business people who have an existing offline business and want to add internet to their marketing portfolio people who already started with internet marketing but have not succeeded till now …
That gives you a good starting but you should even segment this list a bit more:
Try to find the segments in the above groups like:
Consultants who have not used the internet till now for their offline office or even more targeted – lawyers who want to add internet to their marketing portfolio
Last step is to segment the list horizontally
Now find the problems that people in this targeted fields have. Brainstorm a bit and add them to your excel spreadsheet.
Example: for your home based business owner who currently works in a day to day job – one problem will be how to start an internet business while working in my day to day job 8 to 10 hours a day.
For the lawyer: How to use the internet to drive targeted clients to my company 24/7 days a week.
As result you get an matrix of possible target customers and their problems.
Now what do you do with all this?
You have a detailed layout what products you can produce and who is in need of that product. That makes your live a lot easier.
And best of all you will see that there are many people out there who have similar needs and can use same product with just tiny changes.
