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Focusing on a niche market

By: John King A

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One of the biggest mistakes entrepreneurs make is making an attempt to market their product to a massive general market instead of targeting a small niche market. As a marketing advisor, getting my clients to concentrate on a niche market is the most difficult part of my job. Whenever I tell a client that they must start off tiny and focus on a specialized niche market, my customer nearly always asserts, But I think everybody could use my product and if I limit my market, I'll get fewer sales. Then my reply is, okay, if you'd like to advertise your product to the world, how many millions of greenbacks do you have to invest in regional, state and world advertising campaigns? Then I am getting a blank stare or the phone goes quiet.

To achieve success in today's hyper-competitive, over-advertised marketplace, you definitely must focus your business and selling on serving a specialised and preferably small niche market. This is especially true and a matter of survival if you have a tiny promoting budget. If you ignore this advice and try to market to an enormous general market before first achieving success in 1 little niche market, I'm able to guarantee you that you will soon go broke and be into Chapter 11. However, if you do make a decision to concentrate on serving a small niche market, you massively increase your odds for business success with a lot less risk.

So what is a niche market? A niche market is group of consumers or companies that all have a particularly express need or want. For example, let's say you sell fancy and reasonably pricey parrot cages. Your niche market consists of folks that own parrots, and particularly folks who own parrots and earn earnings big enough that they can afford to buy your fancy parrot cages.

On the other hand, if you decide to promote your fancy parrot cages to everybody in the U. S. who owns a bird, you are marketing to a fairly large general market and the money you spend on promoting will be wasted because nearly all of the people who will see your marketing won't have a need or interest in purchasing a costly parrot cage. Yes, that sound you simply heard is the sound of your money being flushed down the can because you ignored niche promoting.

Here is another example. Let's say you invent a new sort of ergonomic chair. This chair is totally comfortable and truly helps folk that suffer from back pain. Now, what most inventors would do when they come to me to market their product is they would say, everybody will desire my ergonomic chair. I would like to first market it nationally and then to the world. Then I ask my famous query of what quantity of money do they have for promoting, and I'm told it's a couple thousand dollars. So, my customer wants me to launch a countrywide marketing campaign for a brand spanking new product no-one has ever heard of and I am expected to do that with a couple of thousand dollars. Not going to occur.

My recommendation for how to market this new ergonomic chair product is to market it to a particularly specialized niche market and there are a few to choose between. The key is finding the market that most needs this product as well as can afford this product. One niche market to consider would be to market the chair to assisted living centers for the elderly. Another niche market is chiropractors who could sell this chair at once to their patients that suffer from lumbar region pain. There are several other niche markets that could be considered too. The key's to determine who has got the most desperate need for your product and then focus your promoting on that niche market. If you are still confused, do this exercise. Find the people who stay up at night troubling about the difficulty your product solves and you have already found your niche market.

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E King
Marketing specialist

Web marketing system

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