Do you know the big question among many savvy niche marketers for the last year? Why are the principles of finding a niche market not working as effectively as it used to? Many blame it on more competition. Others say it’s market saturation, still others put it on tougher competition. But most lay it on the treaded “R” word, the recession.
All these points may have a grain or a mountain of truth in them, but the fact still remains. Traditional techniques for finding a niche is not as effective as they once were. And in many worst case scenarios they don’t work at all now. You can blame it on the recession if you want to, but I for one am not buying it.
Three Words That Confirmed My Suspicions
Allow me to lead you to a recent University of California study that confirms my hunch. Niche marketing principles have been forced to change because of ongoing economic conditions.
Note, it didn’t say they no longer work, they just said they’ve been forced to change. Like any popular trend, the difference between the ones who survive and the ones who fail is summed up in three words “adapt to change.”
That’s what niche marketing is going through now. Don’t blame it on the recession, economic conditions or acid reflux. Blame it on changing market conditions. And those marketers who can adapt will survive, and those who don’t won’t. Simple as that.
See What’s Behind The New Changes
The University of California study revealed the fundamental changes of successful marketers of the future will not depend on finding a niche.
This worked during the pre-recessionary period, where you had less competition, more customers and more resources. But now with tighter markets, tougher competition and less resources a new trend is emerging. That new trend is marketers ability to “create” a niche instead of trying to “find” one.
The report revealed many advantages and long term benefits of working to create a niche over finding one, much like the following.
The test marketers experienced:
- Fewer competitors.
- Fewer copycats.
- Long term market share.
- Less marketing cost.
- More licensing opportunities.
- Better customer recognition and distinction from competition.
This is a sample of the initial findings based on the University of California study. More marketers are taking advantage of the information in this report to get ahead of the crowd. In addition, many are making handsome profits by using the simple niche creation principles revealed in the University study. Here’s a sample of the powerful tips they are using.
1. Do What Your Competitors Hate To Do.
The quickest way to create a powerful money making niche is to do what your competition doesn’t like to do. This will allow you to instantly set yourself apart from you competition in your customers eyes.
If you want to double the effectiveness of this technique, do a customer survey and find out your customers top 3 needs or wants. Chances are you’ll discover something your competitors isn’t doing. Do you think you’ll stand out in your customers mind if you start doing or providing it. You bet you will.
2. Treat Your Customers Easy
When your think of your customers think easy. Meaning. what can you do to make something easier for your customers than your competition?
3. Eliminate A Irritation
This is probably one of the easiest ways many savvy marketers create a niche most of their customers appreciate. Plus, it’s simple to use, so simple many rookie niche marketers overlook it completely.
Most lackluster businesses overlook this technique, until their competitors use it and steal their customers away. The key to this technique is summed up in the three letters, A.L.L. It simply means Ask, Look and Listen. Ask, Look and Listen to what irritates your target customers and work like heck to eliminate it. If you can do this before your competition you can win a truck or train load of customers.
Why limit yourself to trying to “find” a niche? Discover the latest ways to “create” a niche and enjoy more benefits. For a complete explanation on how to improve your niche creation skills go to ... http://TheNicheMan.com
