Niche Marketing Notes

Comments May 4, 2010 / Posted in niche marketing

This note was made on June 2, 2008, from an Eben Pagan webinar on how to identify a good niche to market to, and what to consider when choosing or creating your niche product:

People with deep subject matter expertise invariably do not know how to market their expertise.  The more knowledgable they are, the less likely they are to engage in “extreme” marketing.

The key to success in Info marketing is knowing how to “package” the information; i.e., what to name it, and what marketing angle to use to promote it.

You don’t have to be the expert as long as you know how to extract info from the expert(s), distill them, package them, and market the whole thing.  Could involve phone interviews that are taped.

MEGA NICHES:

1.  Health and Wellness
2.  Money and Finance (includes business)
3.  Relationships

The 3-Question Test for selecting a good niche:

1.  Is my prospective customer experiencing:  (1) pain and urgency; (2) irrational passion?
-targeting these people is easier because you’ll have to do much less persuasion; they’re hot to go.

2.  Is he proactively searching for solutions to said problem?
-Use PPC to do market testing:  set up a campaign, add keywords, test ad titles, and see how many impressions you get per keyword

3.  Does he have few or no “perceived” options?
-search online; see if there are products that meet the market’s needs that are easily accessible and understandable/effective.

Ask people these questions:  (1) What worries you?  Keeps you up at night?  (2) What’s your biggest frustration?

You must do surveys.  Survey Monkey $50/month.

tagcloud.com- type in URL of a forum and it will analyze the tags/keywords– those are the HOT topics being discussed.
freeline.crowdvine.com

Voodoo Marketing Principles:

#1:  Translate the value of the information so people will pay you more for it.  Make sure your words are “visual” and hit home– short, impactful, emotional, real.

#2:  Give your product a good NAME that will give it a higher perceived value.  Could be a catchy name, or one that sounds exotic.

The more places you have incoming links to your site, the more stable your business– banners, text link ads, joint ventures, social media.  Changes in the Google algorithm will have less effect.

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  • A niche market is the subset of the market on which a specific product is focusing; therefore the market niche defines the specific product features aimed at satisfying specific market needs, as well as the price range, production quality and the demographics that is intended to impact. It is also a small market segment and an example would be a bridal shoe shop because there is not very many of them around.
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