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What you should know about niche marketing

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Savvy business owners understand that they can't be all things to all people. Instead they focus on marketing their products and services to the people who are most likely to buy them. This is known as niche marketing. This way the marketing that you do is at the most effective. If you fail to do this and simply assume that your great product or service will sell itself you are most likely not going to succeed in getting your customers to you. A "shotgun approach" to marketing rarely finds and targets the customers you are looking for. Instead, by educating yourself about niche marketing you can locate and attract the attention of your target market. Here is what you should know about niche marketing-

- You must have a unique product or service that meets a special need-Remember that you are going to be looking for customers that need what you have to offer them. You should look on the fringes of particular demographics to see if there is a group of people who are not having their needs met and your product or service would do just that. It can also be helpful to determine if your product or service would piggyback with something else that your niche market is already using. Once you have determined what group of people are the most likely to want your product or service you can move on to determine how to best market to them.
- You must do your market research-Even if you think that you have the greatest product ever made that doesn't mean that it will be a raging success. You will need to clearly identify what the demand is for your product or service and how you can market it. If you cannot clearly see the demand then even the best marketing will not sell your product or service. The bottom line is that your niche market will need to have a demand for your product or service or you need to go back and find other target market.
- You need to understand the competition-Very rarely will you find a niche market where you are the only player. However, you want to choose a niche market that has as little competition as possible. You want to be able to stand out of the crowd and make sure that your target market is noticing what you have to offer. Keep in mind that because of the internet your competition is not just the store down the street but could also be the business that is located halfway around the world from you. If you find that your niche market is completely saturated with competitors you may want to consider going back and considering a new niche market to target.
- You must market with everything that you do-Once you have determined that you have a unique product or service, done your market research, and understood who your competition is then now is the time to market. You need to make sure that everything you do is connected to your marketing efforts. Every piece of mail that goes out of your business should have a marketing message. When your employees answer the phone they should greet callers with a marketing message. You should constantly be focused on finding the right ways to attract and keep the attention of your niche market. Keep in mind that niche marketing varies dramatically from large scale marketing because you will need to focus on educating your customers as to what you have to offer them and why they should buy from you, rather then your competition.

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