Tuesday, April 16, 2013

Niche Marketing

Niche Marketing

The tighter your niche, the better your chances of finding the customers who are looking for exactly what you've got to sell!
Target Customer Success
Niche Marketing means targeting a  select group of  your businesses public, whether it's  your local business to business or , business  to customers, Select a industry or some other group of people with same interests. Find out your niche market is the first step to attracting them to your business.

Your Public Niche
Is your public a special niche? If it's a special niche, how is it defined: by gender, by age,  by geographical demographics? Are your customers primarily women or men?
Do your homework!! Take a look at your competition and see if they niche market and who they market to.

After identified who your target public is, you've got to ask yourself a few things: Is this market large enough to generate sales goals? Are you able to reach this market through high ROI marketing and advertising? Can you meet the customers needs with your services?

Competition is good, especially from larger market players with substantial resources and large over head. So in the face of competition, how should you respond? Successful niche businesses will respond with what makes you better, give higher-quality service , rather than cost-cutting measures.

Lets Develop a niche that works
If your business offers a wide variety of services to a large portion of the population, you can still benefit from niche marketing. Some of your products or services may be targeted too a  specific public of your customer base. Find that customer base that give the highest ROI and wok that first.

Internet marketing: keyword and search engines
Finding out which keywords your potential niche customers are looking up can help you determine exactly what those customers want. And by using the best keywords, you can bring customers directly to your site when they use search engines, such as Google or Yahoo. Search engine optimization (SEO) software allows your site to be toward the top of the list when customers perform a keyword search and helps to bring traffic into your site.

Pay Per Click (PPC) Advertising
PPC programs  like AdWord or adCenter offer a variety of advantages and disadvantages. The advantage PPC programs are generally easier to set up and maintain and are easily targeted by niche keyword, disadvantages is they pay commissions even if your visitors never make any purchases.
Please Note :Currently in the process of writing article on PPC. come back soon or sign up for mailing list of recent news.

Internet marketers sometimes sound as if they invented niche marketing, but print and visual media has been offering ad targeting for years. Special newspapers sections, such as those devoted exclusively to technology, business and women’s interest, as well as seasonal ads like summer sales and back to school. Even general interest newspapers could niche media for their geographic public.

Lets review

    Chose a niche that works best for your businesses.
    Identified who your public is.
    Research competition.
    Find The best targeting advertising media for your business.
    Keep up with what your customers are looking for.

Targeting, monitoring and measurement is essential to every successful marketing program. Pinpointing your target audiences up front can save time and money as you prepare your ad campaign. Monitoring and keeping accurate statistics can help you learn what worked and what didn’t with your last campaign so you can adjust your strategy.

In closing many small business who are focused on niche markets find it profitable and fulfilling. The keys to success are to stay in touch with your customers, understand their needs and keep serving those needs with continuous innovation.

Wednesday, April 3, 2013

Common Advertising Mistakes

Mistake #1 - Not knowing if your advertising is working

This is by far the biggest error most small business owners make. They just throw advertising in the local paper or
on the radio and hope and pray it works. In many cases they have no idea how to track results and adjust their
advertising efforts to be more productive.

Mistake #2 - When to advertise

On your first day of business did you advertise? Chances are you had a grand opening, balloons, radio, TV,
newspapers, contests and anything else to attract customers to your business. Can you keep this kind of
advertising up all year long? Chances are you can't. So when should you advertise? Know your public and
buying there cycles

Mistake #3 - Advertising 
in the wrong place
I listen to 620 WDAE The Sports Animal. Talk radio. So if I love it I'm sure my customers love it too, so
that's where I'll advertise. Sound familiar? That logic might be right but generally it isn't. If you are
spending your advertising dollars in the wrong place suddenly your advertising is an expense not an
investment. GET THE ROI YOU NEED

Mistake #4- Not staying unique

Niche Marketing .
The tighter your niche, the better your chances of finding the customers who are looking for exactly what you've
got to sell!

Mistake #5 - How you look to your customers

Small businesses seem to throw any kind of advertising out there for customers to find. I'm sure there are
several major companies I could show you that you could recognize with just the company colors. Could
you recognize a Campbell's Soup Can without the company name? Sure you could. Customers, over time,
begin to feel comfortable with the look and feel of your advertising. That's Branding - knowing what your
business image is and how you want it portrayed

Mistake #6 - Poorly planned promotions and events

Say you wanted to have a 4th of july community retirement investment meeting. That might be a mistake
here in Tampa Bay area do to 65% are snow birds

Mistake #7 - Forgetting the folks who got you there

Many business spend so much time trying to attract new customers that they forget the loyal customers who
made them successful. I'm sure you've all heard that it takes six times as much to attract a new customer
than it does to keep an existing one.

Mistake #8 - Listening to the wrong people

When it comes to advertising everybody is willing to give you advice. And, because you feel that you know
so little, you're willing to take everything at face value. Most media salespersons are honest hardworking
people. Some, however, are just out to sell you ads. If you think you want to be somewhere they are more
than happy to sell you the time or space.

Mistake #9 - Concentration on product features instead of benefits

So many ads I see just talk about what a product has not what it does. No one ever buys a product for the
features it has. Do people buy a 1" drill bit because they want the bit? No. They buy it for the 1" hole it will
give them. That's the benefit.