After I had this conversation using my friend and he wanted to accomplish his own art business throughout Bali, Indonesia. He said about what kind of product they should create to sell right now there because there were already a great number of competitors in the art organization for quite some time.
What / things do you think about this situation? Here is how many of us illustrate the situation…
Imagine on your own fishing in a big lake filled with a lot of fish which might be overfed with a lot of similar baits which means that these people own in will also have a lot of alternatives too.
This is where we have to transform our point of view about web marketing strategy because these days if we desire to succeed or win typically the marketing war whether it’s a web or an offline organization we should learn how to navigate ourselves into doing our organization “smarter” and not “harder”.
I then told him, Why don’t you targeted your market into a far more specific segment, for example virtually 20% of all the tourists for you to Bali came from Japan, with this fact you can try to target this unique group of tourists on marketing your art products… But rather than selling ordinary paintings, why don’t you create an art function that combines a little of Japanese culture with Balinese tradition?
For example, You can create a form of artwork whether it is artwork or a craft work regarding Balinese Dancers with blossoming Sakura trees as the history, I’ve never seen every other art businessman doing this technique before, if some Japan tourists saw this artwork, chances are they might find it fascinating thereby the possibilities of purchase on the product would be much larger.
Here’s a quick fact, the “personalized/specific product” can purchase as much as 2 or 3 times much more prices than a general item.
Now you can do fishing in a pond of hungry fish with a perfect bait designed specifically for them! if you discover an untapped (untouched) marketplace and know what they want/need, you can sell a product that will certainly be “a hot selling” product, how? Because you will own the whole market prevent!
Niche VS Mass Advertising
Now if you are a big organization with a huge marketing spending budget and you would want to make an additional millions dollar a month after that MASS marketing is the best remedy for you, BUT if you’re just a small business owners/entrepreneurs and want to call and make an extra $ 1, 000 to $ 15, 000 a month then niche marketing may be the technique just for you.
Concerning the Niche Market…
The word “niche” originates from a French word that means “to nest” so Niche Marketing is targeting your product or service right into a smaller portion of a market that is not being readily served or even bombarded with the mainstream services or products from other marketers and a few of these markets even have by no means been tapped before, typically the niche market can be geographic regions, ethnic, level of age, possibly certain hobbies or distinct interest.
You can’t be as much as possible to all people, so why would you focus on that small business spot, many businesses have gone broke seeking to be all things to all men and women, so instead of trying to always be all things to all people, it is advisable to find a Niche, there are numerous categories that need help or approaches to their problems, can you present them the solutions?
For instance, instead of writing a reserve on “How to raise dollars? “, which there are way too many titles similar and it is for you to “big”, why don’t you write a single for a more specific marketplace such as “How senior citizens can raise money? very well, more focus equals far more profits and less work, any time aiming or targeting a web market then the smaller an example may be the most profitable way to go.
You might ask me, “If I want to go for a niche, what kind do I have to try to find out initial, the niche product or maybe the niche market? ”
Actually, there is not any standard procedure about which to find out first because at times people find themselves in a niche industry without even realizing they are within it already, for example, you find quite a lot of people facing the same difficulties and they are trying to find the solution of the problems and you happened to achieve the solution or know several sources that can deliver the option but no one else generally seems to know about what you know, to help you take advantage from this situation/opportunity giving them the solution to their difficulties, so basically this is an approach finding the market first then a product.
Here is also one more example, perhaps there is a product or service you need, but it’s nearly impossible to find it in your area, so you set out to provide the product or service for yourself, and if you think you can sell your product or service additional people who are facing the same trouble like you, then this will be your specific niche market product. This is the strategy of actually finding the niche product 1st then the market. But it is a BIG MISTAKE!
Deciding on the product or service first before finding a market is an enormous mistake, probably the most common miscalculation ever, if you’re asking “What is a good product/service to sell on the net? ” You’re making the miscalculation right now!
Find out what they want initially and give them the solution mainly because that million-dollar best-selling solution idea you have on your mind probably is not what your customers want.
Suppose spending a lot of time, and money to build some product and after you actually try to market the product we now know that there are no profitable stores to sell it?
This is why In my opinion it will be “wiser” to search for the market first, after that this product.
The Internet makes it very easy normally to find people who are interested in a specialized category like art, farming, pets, hospitality, accountants, as well as other interest group and locate these targeted visitors through forums, ezines, forums, mailing lists, etc. One or several of their categories will be your niche market.