Too many business owners fish in the widest and deepest pools– trying to be all things to all people. Offering a broad range of products and services to a broad audience and never really create the waves that lead to tremendous profits. By positioning yourself at the top of a smaller, well defined pool (or niche) you will set your business apart from the competition and create a profitable business. Here are five proven ways to create a profitable niche business.
1. Define Your Market
Research the needs and challenges of your target audience and capitalize on those needs. Understand the community and develop solutions that appeal to a specific group. For example – Understanding Social media in Small Business is a need of the small business community, a niche market would be to develop a product or service that teach small business owners how to use social media in their business.
2. Create Your Product or Service
Based upon the needs of your target audience, you want to create a product or offer a service that addresses those needs. Many start with developing their products first without researching if there is a market for it. First define your audience and establish there is a demand for a new product and then develop it.
3. Create Your Brand Promise
The brand promise is a statement of what your customers can expect every time they engage with your company and is the center of your business. When a brand stands out with a strong promise that deliver value consistently, the value of your offering increases and customers will be willing to whip out their wallets and pay for your products.
4. Become the Expert
Position yourself as an expert in your niche and become the “go to guy” for this product of service. Showcase your knowledge and expertise by writing articles, participating in forums and providing tips, techniques and strategies in short, succinct messages via popular social networking sites.
5. Create specific messages direct to your niche
Business is conducted on an emotional level. Now that you have identified your market, built a community around your offering, you must communicate with your target market frequently. Develop specific messages targeted towards your niche market appealing to their emotions and demonstrating your benefits. It takes 7 times before somebody is comfortable enough with you and your expertise to buy from you so be specific, be credible and offer extraordinary value.
No matter if you are a retailer, service professional, internet marketer or mom and pop shop, you stand for something. There is a reason that you went into business and a reason why you want your business run a certain way. Building a brand starts with defining what is your core purpose and the inherent promise you are making to your customers and delivering value every time. Isolating your niche in your area of expertise and bringing solutions to a targeted group will keep the cash registers ringing every time.
©Kellie D’Andrea & Associates
Want to use this article in your newsletter or web site?You can, just include this complete blurb with it: Kellie D'Andrea is the creator of BLAST Marketing System and publishes "The Marketing Edge" a FREE award winning ezine for small business owners who want to gain the competitive edge with strategic marketing and branding techniques that actually work. Interesting in learning more, sign up for FREE Marketing Classes “Marketing Mondays” and learn how to position your business for success. www.kelliedandrea.com.
Friday, January 1, 2010
Wow. Where did the time go?
It has been such a long time since my last post. I cannot believe it. I have been super busy in the pursuit of my dreams and taking the steps for long term growth. It has been a wild year so how can I sum up my accomplishments, events and challenges?
Here it goes:
1. Great year at the office - tremendous sales, profitable business and happy employees. In a time when companies are suffering and unemployment is at an all time high, the office had its best year in history!
2. Danielle got her first car - total her first car and learned a very valuable lesson about driving, insurance and adulthood.
3. Launched 4 products, published hundreds of articles and had wonderful results from offering free webinars, teleseminars and classes.
4. Danielle was challenging at times with all of her "teenage wisdom".. In hind sight, I should have written her stupid arguments down so I could show them to her later when she is an adult...
5. Joined many marketing groups, mastermind groups and hired my own Business Coach... I love learning!
6. Invested a lot in my education this year and have no regrets. Ton of wonderful ideas that I have applied to my business.
7. Made wonderful connections and grew my connects by thousands.
8. Started with twitter and actively marketing on LinkedIn with wonderful success.
9. Started my new book "BLAST Marketing for Retailers" - scheduled to be released in 2010!
10. Enjoyed life, friends & family.....
In spite of all things going on in the world, it has been a good year. I try to remain positive and always look for the opportunities even in the most adverse of situations and I encourage all of you to do the same.
Here is to a healthy, happy and year of prosperity and abundance. Here is to 2010!
Here it goes:
1. Great year at the office - tremendous sales, profitable business and happy employees. In a time when companies are suffering and unemployment is at an all time high, the office had its best year in history!
2. Danielle got her first car - total her first car and learned a very valuable lesson about driving, insurance and adulthood.
3. Launched 4 products, published hundreds of articles and had wonderful results from offering free webinars, teleseminars and classes.
4. Danielle was challenging at times with all of her "teenage wisdom".. In hind sight, I should have written her stupid arguments down so I could show them to her later when she is an adult...
5. Joined many marketing groups, mastermind groups and hired my own Business Coach... I love learning!
6. Invested a lot in my education this year and have no regrets. Ton of wonderful ideas that I have applied to my business.
7. Made wonderful connections and grew my connects by thousands.
8. Started with twitter and actively marketing on LinkedIn with wonderful success.
9. Started my new book "BLAST Marketing for Retailers" - scheduled to be released in 2010!
10. Enjoyed life, friends & family.....
In spite of all things going on in the world, it has been a good year. I try to remain positive and always look for the opportunities even in the most adverse of situations and I encourage all of you to do the same.
Here is to a healthy, happy and year of prosperity and abundance. Here is to 2010!
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