The lifecycle of the Niche as seen
through the Eyes of Wild Bill:
1. Creation
- For everyone there is a place. You must find your
Niche. Your special place in the marketing world.
2. Development
- Once created, you must finely tune your Niche as you
would a musical instrument.
3. Exercise
- Like muscle tissue, you must exercise your Niche
with State of the Art Marketing & Advertising.
4. ReCycle
- Occasionally you must recycle all or part of your
niche to stay competitive.
5. Death
- Everything has a time to die, and although many
products seem to go on forever, sooner or later they
come to their conclusion.
To have a "real" edge over your competitors you must know
your market, who's going to buy your product and the
strategy you will use to get them to do so. You have to know
what business you are in and what product you sell. This
sounds rudimentary, but all to often it is not. This my
friend will be your Niche In The World.
How you develop your niche largely depends on the niche you
have created already, knowingly or unknowingly.
Creating a Niche is quite like creating an entity unto
itself. Creating, Developing and Nurturing your Niche can be
the difference between failure and success.
Your Niche can make you stand head and shoulders above your
competition. It can give you the ability to corner your own
little piece of the consumer world.
Get a "Unique" Niche! Your Niche should allow your
prospective client or customer to visualize that they are
receiving something special, something only you can give
them in a way that no one else can. How do you make your
Niche stand out above the rest?
Major Market Niches: Service, Quality and Guarantee. These
are 3 words to always remember:
1) SERVICE: Consumers, no matter what kind, expect and
demand to be pampered and waited on. Pay attention to their
wants and needs, and fulfill them to the best of your
abilities short of effecting your efficiency to serve others
or your "Bottom Line".
2) QUALITY: Poor quality is going to get you two things:
Complaints and no repeat customers. If you expect to spend
any time in business, do yourself a favor; Don't "lie to",
"steal from" or "cheat" your customers. Provide them with
truthful information, honesty and integrity, and give them
the best product you can provide for the price that you set
without effecting your bottom line profit margin.
3) GUARANTEE: In today's world of the "fast buck" rip-off
artist, especially on the Internet, people are hesitant to
buy anything without a
guarantee. If you want to make sales, make a guarantee, but
don't over do it. Don't make such a ridiculous guarantee,
that it can't be believed or will cost you so much that your
profit margin takes a nose dive.
When deciding what your Niche will be, first decide how it
will attract and benefit your customers, and how you will
divert them from patronizing your competitor for first time
or repeated sales. For example, your Niche may also be
providing more information and services in your area than
anyone else in the market.
In closing, no matter what your Niche, you will always find
someone else in the same market. Always study your
competitors. Approach them (their site) as you would if you
were really a prospective customer looking for their
product. Would you be more likely to buy from them or from
you. Why? Why Not? These are points that you should be
constantly examining, researching and striving to make
better.
About the Author
Wild Bill Montgomery
Webmaster@MakingProfit.com
http://www.MakingProfit.com