Tag Archives: niche markets
When your profits begin a downhill slide or just seem at a stalemate, you scratch your head and ask a thousand times, “What am I doing wrong?” Well, the truth is that you may not be doing anything “wrong”, but there may be some things you could do to bring about a change. The next time you’re up against a brick wall, try implementing these techniques into your marketing campaign, and watch those blues disappear!
1. Change Your Advertising Focus
Hey, everyone is a prospective customer, but let’s face it… not everyone is interested in what you have to offer. Why waste advertising dollars on those who don’t even pay attention?
Find your niche. Identify the audience with the greatest need for what you have, and learn all you can about them. Become a specialist who knows what they need, and advertise directly to them. You’re customer conversion rate will soar!
2. Be Unique.
There are plenty of copy cat marketers out there trying to mimic the success of those around them. Sometimes it works… sometimes it don’t. But the fact of the matter is that the more unique you are the more attention you will get.
What isn’t your competition doing? Yeah, try that! Chances are they can’t or aren’t willing too. That’s your key to success!
3. Offer a Bonus.
Who will pass up a freebie? Add these “on the house” products to your sale to sweeten up the deal. The freebie doesn’t need to be anything too big, or cost you anything. Just the idea of the bonus will increase the perceived value of the purchase in the consumers eyes. And yeah, they’re all looking for the best buy for their buck!
4. Gather Follow Up Info.
Most customer don’t make a purchase the very first time they walk through your door, but don’t let them escape your clutches. Find out who they are, and how to contact them in the future. The longer you keep a line of contact open with them, the more trust you build up. Sooner or later they’ll be back and ready to buy this time!
5. Wipe Out The Risk Factor.
The biggest reason people hesitate before making a sale, is the lack of confidence that they are making the best choice. Hey, no one wants to invest in a product that doesn’t live up to its name. In fact the fear of making a bad choice is greater than the desire for the product.
You can totally eradicate the risk factor for consumers by providing an unconditional money back guarantee. When you guarantee satisfaction, they won’t be so hesitant to get out their wallets and commit themselves to the purchase.
6. Be Diverse.
The buzz word in the Internet Marketing realm is Affiliateships. Affiliate marketers find products that are related to their own products, and offer it to their customer. The customer wins because he can learn more about the product he is investing in, and you win with commissions for an easy sale. After all, it’s much easier to sell to a customer with his wallet out and open than to build a relationship with a brand new customer.
7. Keep Your Eyes Peeled.
Marketing is an ever changing entity. The Internet has brought tremendous change to the way we do business and advertise. It’s wise to keep your eyes peeled for new advertising methods that will add to your profit margin. A word to the wise: don’t go too far out on the limb. Keep 80 percent of your marketing budget working on the tried and true methods that have made you successful, but use the remaining 20 percent to test for ways to increase your advertising success.
These seven tactics can bring even the most sluggish marketing problem to life. Try one or all of them and watch your sales begin to climb once again… or even for the first time!
1. Team Up
No one knows your market like you! What are the main characteristics of your target audience? Find someone else out there who isn’t a competitor, but who reaches the same class of customers that you do. Team up with them to do joint promotions!
We all know that two is better than one. The dramatic end results will be an effective and cost-cutting advertising venture the nets both of you a nice profit.
I once dealt with a veterinarian who promoted a local dog groomer… who in turn promoted the local veterinarian. Yeah, it’s kind of a “you scratch my back and I’ll scratch yours” set up, but hey it works for both parties. Think about it… customers are going to feel that the dog groomer is in the know about who the best vet in town is, as well as trust the vet to know who is the best dog groomer in the area. Sure, it’s a win, win situation for both the groomer and the vet.
2. Dig Out New Niche Markets
Niche markets are everywhere, right under your nose! Within the customer audience that you serve right now are groups of people who share common traits. Think about it… maybe you have a goup who speaks Spanish, a group of teens, and a group of middle class family men and women.
Evaluate these classes of people, and discover the unique needs and desires they share. That will set you up to customize your advertising campaign directly to them. It’s not hard to take your current ads, and make a few changes to adjust to the niches. They’ll be impressed that you understand THEM, and the increase in your profits will be the best thanks you can get.
3. Hop On The Latest Trends
Get in on the first floor of the latest trend… before your competition becomes aware of it. Be a leader in the industry! Hey, Internet marketing is still profitable all around, but businesses who jumped on the band wagon early in the game got the best proceeds for their insight.
We’re not talking about dropping everything and making a mad dash! Wise marketers add to their already profitable businesses when they see the “new and coming” techniques. Keep the customers you already have on board, and add to your existing products and services.
You can quickly and easily strengthen you business and push out the competition by adding new layers to your existing business, teaming up for joint promotions, and discovering new markets to reach.
1. Find Your Niche
Chances are, you already have a target audience that you are marketing your products to. Let’s face it, you’re probably looking for ways to increase your market audience and profit…or you probably wouldn’t be reading this article. Here’s the real facts… you don’t have to find a wider audience to increase you sales.
Have you noticed similar characteristics that groups within your target audience have in common? Maybe you have a group of businessmen, a group of young mothers, and a group of retirees that frequently make purchases. That is just the set-up I’m talking about.
Pay attention to the individual characteristics of each group, and divide your advertising into similar segments, or niches. Focus on the specific needs of the group in the advertising products you put out. General advertisements are not as effective as more specific ads. Hey, we all sit up and pay attention to someone who recognizes our specific needs and desires!
2. Create A Unique Selling Point
Why should someone buy from you and not your competitor? I hate to deal a blow to your ego, but it really has nothing to do with you , your product, or your service. Yeah, its a little self-centered, but customers are attracted by offers that point out the things that benefit THEM.
If you want to stand out from the crowd, create a unique selling proposition that stresses the benefits the customers will receive from doing business with you. Will they get faster service? Go ahead and dramatize it, but keep the customer at the focus…”Get free overnight delivery!” Hey, it tells the customer…you get quick service and a discount on shipping. Two definite benefits in one statement.
Don’t go out on a limb to create new products and services to get attention. Just, add a special benefit to the ones you already have… maybe it’s quicker service. The most effective things to emphasize are benefits that your competition cannot or is not willing to give.
3. Offer Your Way To Greater Profits
How many times have you began manhunting? Sure, as a marketer you scrounge and search for brand new or ancient methods of drawing brand new faces to your place of business. The fact of the matter is that you don’t have to find new customers for your sales to grow.
No, in fact you can take the current business you have and send your profits to the moon with one easy technique… make an offer.
Greet every sale with an offer of an item that is related to the purchase. The offered product doesn’t even have to be yours. The Internet is wonderful for affiliate marketers who can make great profits selling the material of others.
Making your business grow doesn’t have to be a stressful, backbreaking or frantic process. Simply implement these three strategies, and watch it boom!