Niche marketing has evolved over the past year. Have you noticed. Many of the old principles, methods and techniques are not working as effectively as they once were. Using the same methods you used a year ago requires working longer, harder and search deeper to find that special niche.
What adds insult to injury, even if you do find a potential niche, before you can say copycat 20, 50 or even hundreds of competitors flood in and dilute the market. And with the Great Recession sucking the life out of many niche ideas, to survive a paradigm shift in thinking must come. Especially, if you want to compete now.
Niche marketing is slowly shifting from the mindset of finding a niche to creating a niche. In the past finding a niche required time, research and effort. Much like a prospector searching for gold. A hit or miss proposition at best.
The flood of software programs that claim to find you a successful niche that will make you easy fortunes with the press of a button falls short. It’s a sad fact that the majority of people who buy these programs fail to make back the cost, much less a fortune from them.
But they do have the benefit of saving the users time as opposed to searching by hand. But the results seldom match the sales hype. In addition, with so many people searching with the same software programs the markets that are open or have potential is soon diluted with competition.
As always, after the smoke is cleared we always have to get back to the basics. For example, following specific principles of creating a niche. By focusing on creating a niche you incorporate an added element.
Learning how to create a niche will give you an extra weapon when it comes to finding a unique niche.
Here’s the steps to creating a niche:
1. Think Niche Ideas More
One secret to coming up with profitable niche ideas is to start thinking about niches all the time. Practice looking at the successful products and services and try to find the uniqueness it has from their competitors. By taking the time to practice this little exercise, you’ll soon find yourself see niche ideas that most people walk by. For example, have ever seen a product or service and said why didn’t I think of that? We all have. Now you can.
2. See What Your Competitors Are Doing and Not Doing
There’s an ancient proverb that says, “The secret to getting rich is to do what others don’t like to do. The principle continues to stand the test of time, even in a recession. It’s encouraging to know, you don’t have to be 100% better than your competition to succeed. You only have to be 1% better at 100 things, that’s a much easier number to hit.
For example, can you do something faster than your competition? Can you give more of something?
Can you eliminate a negative inconvenience for your clients that your competition is missing? If you look hard enough you’ll find it.
3. Take A Customers Needs Pulse
To know a patients current medical needs, the first thing a good Doctor does is take their pulse. And the first thing a good business does to find out a target customers current needs pulse. The key to success is to find a need and fill it. But the first step is to take a needs pulse of your target customers.
You do this by asking your customers what they like, hate, what they can do without, what they would like more of, and what they want less of, for example. You can do this through online surveys, personal interviews, or simple survey cards. If you don’t ask, they won’t tell you, most will simply go quietly to your competition.
Source by Roy Primm