Niche marketing is about focusing your marketing efforts on a particular market segment, or “niche” and creating a product and/or service that speaks directly to that niche.
So, how specific is a niche? Well, let’s look at a couple of examples:
- Market = “Pets”
Niche = “West Highland Terriers”
- Market = “Food”
Niche = “Organically grown berries”
- Market = “Clothes”
Niche = “Tailor made suits”
- Market = “Finance”
Niche = “401K Retirement Plan Advisors”
The list could go on and on… and on… but hopefully you get the point. A niche is basically just targeted subsection of any larger market. Niche marketing is focusing your marketing efforts on that subsection to provide them with the tools, services, and/or products they need.
Most people get involved in niche marketing for one reason and one reason only… to make money online!
You can too make money online…! All you have to do is be sure to pick a niche you are interested in and go from there.
The real benefit is that niche marketing is not only profitable, it allows you to deal with topics you truly enjoy, and if that’s not exciting, I don’t know what is!
Now that you understand what niche marketing is, you now need to explore exactly how it works.
So, you’ve picked your topic and understand your target market. Now, how do you reach them and even more important, how do you make the sale?
Here Are 12 Tips For Developing And Implementing A Successful Niche Marketing Campaign:
1. Set Your Goals
Every successful online business venture starts with a plan. Without one, how will you know where you are going and how you will get there? Take the time to not only become familiar with your niche and target market, but set goals for yourself.
Set a date for when you would like to launch your website and do everything in your power to meet that deadline. As you move forward, continue to set goals and timelines to follow as a way of keeping yourself on task and on schedule.
Of course, the purpose is to make money online, but you must set realistic financial goals in order to meet them. In other words, say your ultimate goal is to make $5,000 a month. Well, that is a great goal. But is it realistic for your particular niche? It may be… but it may not be.
Your potential for revenue will directly depend on what you are selling and who you are selling to. Some niches lend themselves to higher profit because of the value of the product being sold, while others require more volume in order to meet high revenue goals. Neither one is better than the other; it just depends on your individual business scenario.
Be realistic with yourself first, and the rest will follow.
2. Develop Your Product and/or Service
Now that you know what kind of business you are going to have, you have to determine what you are going to sell! Whether it’s a book, a widget, a consultation or advice, you will have to decide exactly what it is you will be selling before you actually begin selling it!
3. Define Keywords
Search Engine Optimization (SEO) is really a crucial piece to the niche marketing puzzle. In case you don’t deal with SEO head on, you’re going to get lost in the crowd.
For those of you unfamiliar with SEO, is simply the entire process of helping search engines like Google not just recognize and discover your website, but additionally list and rank your website content. The goal of this method is to make sure web searchers notice your website in the (hopefully) first, or even first few pages of results whenever performing a search relevant to your specific niche market.
When you set up your niche marketing website, you will want to first create a list of keywords that are relevant to your target market.
Your niche is Yorkshire Terrier Lovers. Keywords for this niche might include:
- Yorkshire Terrier
- Small dogs
- Toy size dogs
- House dogs
Make sure not to make your list too lengthy, though. It is critical to focus.
Here’s another example:
Your niche is “Banner Ad Designers”. Keywords for this niche might include:
- Banner Ad
- Banner Ads
- Banner Ad Designer
- Banner Ad Designers
- Website Designers
- Internet Marketing Designers
Hopefully you get the gist.
These keywords should be included in your website content, your website headings, footers, site titles, meta tags and wherever you consider ideal, so long as it still makes sense and is relevant to the message.
Do Read: 9 Keys For Succesful On-Page SEO
4. Perform Market Tests
In order to know how your new website will perform, you should test it first. Send your website to family and friends and even a few members of your target market. Be sure to ask for feedback.
You will want to know what they like, what they don’t like, what works, what doesn’t work, and also gain valuable information as to the overall look and feel of your site as well.
Also, ask questions about usability.
Did they find your site easy to follow and easy to use? You will want to know all of this before going live so you have the ability to make any edits, revisions, tweaks and changes necessary before becoming available to the general public. Because once you go live, you leave your business at the mercy of the unknown… customers!
5. Don’t Just Speak to Your customers. Listen to Them!
As soon as your first customer clicks “okay” in their shopping cart, you are likely to get a review. Whether it’s about you, your business as whole, or your specific product or service, you should be (im)patiently waiting for that initial feedback like a child who has finished his last Brussels sprout and is anticipating dessert!
If you’re lucky, you will receive positive feedback… but we can’t all be so lucky. Remember, this does not mean your product/or service is poor. It means you have a little work to do to please the customer.
And that’s okay. The more you listen to what your target market/customers want, the more business you will do. It can be hard to swallow at times, but it is always good to pay close attention to what your customers are saying. They just may know what they are talking about. After all, it is them you are trying to please.
6. Stay on Task
Whenever you set out with a plan, it is typically a good idea to stick to it – especially if you put the right amount of time and effort into putting it together in the first place. (Only you can decide what that right amount of time is.)
That is not to say that you can’t veer off course when you see fit, but remember to stay on top of your plan, stick to it and you will reach your goals.
7. Stick to Your Budget
This tip is very, very important. Once you determine what your budget is for investing in your niche marketing campaign, it is ALWAYS a good idea to stick to it. You never want to spend more than you can afford, or project income that is not realistic.
Be sure to determine how much money you can and will spend on the following:
- Researching your niche market
- Website building software
- Hosting service
- Production costs
- Distribution costs
- Maintenance costs
While it is most likely that you will not be able to foresee all future costs that your business will incur, it is important to anticipate any potential costs as much as possible. This will serve you well as you move forward.
8. Get the Word Out
Once you have your plan of action in place, and your niche marketing website up and running, it’s time to get the word out! You will have to put your marketing knowledge, SEO and advertising power to work as you begin to try to entice customers to not only visit your site, but actually make a purchase.
You can do this by utilizing multiple advertising techniques and outlets, including:
- Ramping up SEO and keyword integration as much as possible (as previously discussed.)
- Creating a Google AdWords account in order to create and post text ads on other websites that are closely related to your niche.
- Contribute articles to relevant industry directories, ezines and other online publications and include a link at the end, directing readers to your site.
- Utilize an email marketing campaign to let your list know about your new business venture. Consider sending it even to those who may not fall under your target market, as they may forward it to someone who is! Never underestimate the power of word of mouth!
9. Deliver on Your Promises.
As an online business owner and niche marketer, you will no doubt claim (or “promise”) a number of things. Some may include:
- Quality products
- Helpful services
- Lowest prices
But be careful not to make any promises you can’t keep. Empty promises may generate a few initial sales, but your target market will quickly recognize a faulty or poor product when they see one and the negative press will spread like wildfire. So, be sure to make promises that are true and that you are able to follow through on.
11. Continually Grow Your List.
If your business starts out with a boom… that is great! And even if it starts slow and steady, that’s okay too. Any business is a good, positive thing and something to be proud of.
However, don’t give up on your efforts to constantly gain new customers just because you start doing well. A successful business requires due diligence in constantly seeking out the sale, from both returning customers and new ones.
Your list should never peak. It should always be growing and if it’s not, then you should be focusing on how to add to it.
12. Be Sure to Offer Value-Added Products and Services.
Once your niche marketing business is up and running, you will have to consider the following:
- How can I continue to generate interest in my products/services?
- What can I add to my current offering that will make it much more attractive to new and recurring customers alike?
Value-added products/services are a great way to generate additional business and show your customers that you truly care about their satisfaction with their purchase.
Some products and services that can add value to your existing offerings include offers like the following:
- “Receive a FREE ebook with your first purchase.”
- “Take an 10% off orders of 2 items or more.”
- “Receive our complimentary guide with helpful tips for your product to make sure you get the most out of it.”
The idea here is to make your customers feel as though they are getting more bang for their buck… or, “added value” with their purchase. This will make them feel appreciated and likely to continue doing business with you as well as let others know the high quality of products, service and attention to detail you bring to the table.
The Final Thing – Collect Your Cash
After all of this hard work, time, energy and effort, you can finally begin to enjoy the fruits of your labor!
As you begin to see your customer list grow and you start seeing a profit, be sure to reinvest into your niche marketing business as necessary. The best advice is to be as conservative with your funds as possible… especially in the beginning. You want to be sure you reconcile all of your debts before spending additional funds to grow your business. Invest the proper amount of cash capital to get your business up and running, and then be sure to manage your funds well, sticking to your budget as you move forward.
Let me know if you enjoyed reading this niche marketing strategy? Is this the right way for striking a successful niche marketing campaign? Have something more to say? Then just scroll down below to our comment form and let me know your opinions.
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