The most important thing to remember when you are developing a niche business idea is to think backwards. This will sound like “anti-marketing” to some people, but the whole concept of niche marketing is to NOT market to everyone. Stay with me and this will make a lot of sense and might even make you a little bit of money. Let’s take a quick look at a profitable niche business plan.
To start with you only want to market to the people that are your potential customers. For example, if you are selling organic grape juice to a local UK based market you do not need to waste your time and money advertising to 54 year old men from Alaska who are trying to find a local Guinness supplier.
Let’s use organic grape juice as a way to show how niche business plans should look. If I was growing organic grapes for the purpose of selling the juice there are four essential steps I would take to launch a niche business:
- I would put up a website to let everyone know what I was doing.
- I would buy a local (country) domain.
- I would register the business name.
- I would set up a Google places profile to help local customers find me when they search online.
Now my business and its website may not be a viral internet phenomenon, but that doesn’t matter. The 10 or 20 people in my area looking for organic grape juice would find what they are looking for it and here is why:
People search by product first.
After they have digested the information received then they start looking for availability in their area and then pricing.
If you are located in Yuma Arizona and someone from Tokyo searches for local organic grape juice, they will not see you, but that is Okay, they are not a potential customer.
The person from San Diego, L.A. or Phoenix is your customer if that’s where you live (or Manchester, Liverpool or Leeds), and as a small business you will have a very hard time keeping up with the demand for organic grape juice if you can penetrate those three markets for sure.
I know the example is a bit odd, but that is the concept behind niche marketing and niche business ideas.
Create, produce or market something that is so unique only a buyer would be looking for it. Don’t try to sell “car parts”, sell rust free body panels from red 1974 Ford Capri Coupes. Don’t sell organic chicken eggs; sell “organic free range brown chicken eggs that are fertilized”.
I don’t want to get stuck on poultry or car parts, because the product is really irrelevant. All you need to do is find a product or service people need and then you need to make it as easy as possible for the person that wants to buy your product to find you and buy from you. It is as simple as that.
The right way to do this is to start with the end in mind and target your buyer from the beginning. You are not forcing or “hard selling” the buyer, they are coming to you because they want to come to you. By employing niche marketing to your business ideas, you create a profitable business model from the outset.
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