The Importance of Finding Your Niche

crossposted from NetMarketing -

When you prepare to launch a new business, product or service one of the first questions you need to ask is, “Who is my target market?”. The answer may surprise you.

I was in a meeting the other day and that very question came up. We were planning to start a new campaign to restart sales in a product line that we carry. When I asked the question to my partner his response was, “We want to sell to everybody”.

That may work if you are Amazon.com or Nike, but a small business will go broke with that attitude. Successful online marketers are successful because they understand the necessity of marketing to a particular niche.

A prime example is one of our capture pages for our Perfect Wealth Formula product: www.WorkAtHomeParent.net. The target market is work at home parents or parents who are interested in starting their own home based business. Work at home moms (or WAHM’s) are a fast growing segment of home based business market. There are also work at home dads (like me).

Why would you want to market to such small market? First of all, what may seem like a small market in your town or city is actually pretty large when you are using the internet. Second, it is easier and less expensive to market to a group that you have some affinity with. It’s easier to build a relationship

That’s why I focus on groups such as:

• Work at home parents (It’s what I do)

• Parents who are concerned about financing their children’s education (my oldest just started college and I have two more following)

• Men and women who are concerned about having a certain level of financial security in retirement. (I’ll be 47 next month. Almost everyone in my age bracket – except the independently wealthy – is concerned about that one)

Remember, direct marketing of almost any product or service is based on relationships. Why
would I want to try marketing to people that I have nothing in common with, at least until I’ve exhausted the markets that I am a part of?

Rather than waste your time and money marketing to a market that will be difficult to relate to, start marketing to people that you have something in common with. You’ll find that the upside is dramatic.

Technorati Tags: marketing, online, onlinemarketing, netmarketing, target, market, niche, nichemarket, targetmarket

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Is The Road Smooth ... or Bumpy?

About a week ago I was approached by my old friend Rich Ramalho about a new business opportunity. Usually I would just say no thank you. I'm a pretty busy guy and the whole reason that I decided to leave the corporate world and get into direct marketing was so that I could have more free time.

But I have admit, Rich Ramalho hasn't steered me wrong yet. Just when I thought that there wasn't much more to learn about online marketing, Rich introduced me to PWF, and I never looked back. The techniques I learned working with Rich and the Perfect Wealth Formula team literally exploded my earnings. That's why I felt that I had to listen when Rich approached me with this new opportunity.

It's called Roadmap to Riches. I know, I hate these hokie names too. It's billed as a truly automated marketing system. Believe it or not, it's about as close as you can get without putting a sales assistant on the payroll. Once you set it up, which takes less than an hour to do it right, the only thing left for you to do is advertise and answer the occasional question.

The system is so complete that most folks don't need you to answer any questions for them. So far I've been pretty impressed, and I'm the ultimate skeptic.

R2R was founded by a former NFL player named Brian Grant. Brian has put together a pretty comprehensive system. Rather than promise you millions of dollars in you mailbox, he simply gives you the tools to market an excellent product. This, coupled with the knowledge I've gleaned from Rich Ramalho and Jason Pearson's Perfect Wealth Formula should yield an excellent 2007, 2008 and beyond.

Welcome!

Welcome to the new Marketing Masters blog! Here we will discuss the latest trends in marketing - both online and off, as well as the impact of social media on marketing.