Finding and targeting the correct niche market is key to any business whether it is in a walk-in business or in an online business. What good is it to sell bowling balls in a baseball field? Or how about selling bats in a bowling alley? Does it sound as a logical thing to do? Of course not. Marketing to target the correct type of people with the product or service that you offer will be the great difference maker between making 1 sell or 100 sells.
So understanding this fundamental technique will start you off in the right steps towards building your own successful business whether it be online or a walk-in business.
By specializing in a niche market you are narrowing down your customers to potential customers. By just saying customers I am referring to people who walk into your “store” and do not know what they are looking for or what they want. By saying potential customers I refer to people that go into your “store” and know what they want and what they are looking for, now this does not assure that everyone that goes to your “store” of the potential customers will buy your product/service but it will definitely result in many more sales without requiring so many people to visit your store. This translates into money savings for you, because you will not be marketing and advertising for everyone, you will only be doing targeted advertising for your niche market.
Putting it into perspective, out of 100 people that go into your store not knowing what they want or maybe not needing your service/product how many do you think will buy from you? Probably none or maybe a couple. Now looking at it on the other side, if you have 100 targeted customers that do need or are looking for your specific product/service, do you think a much larger number of them will buy? Of course. Maybe not all 100 targeted customers will buy but the number of sales will be much more significant. Why? Because you reached out to a niche market.
There is a famous saying that all great marketers fully know and understand and it goes like this: “When you try to sell everything to everybody, you end up selling nothing to nobody.” Another one goes like this: “When everyone is your market, then no one is your market.”
-Joe “The Advisor” Rodriguez
Business Success
