Many women business owners I work with know they need to choose a niche market so their marketing will be more effective. Let’s say you have 3 niche markets that you are considering for your business and you are trying to decide between them.
Here’s what to do:
1. Do some market research on each of the target audiences. Find out what their challenges, frustrations, and problems and questions are.
2. Determine from your strengths, experience and interests which of these problems you can solve for them.
3. Look at how these problems are already being solved for this market by looking at books, magazines, and websites.
4. Choose one single problem to solve – ideally something you have experienced and overcome and found a solution to yourself.
5. Choose a problem that people or companies are actively looking to solve and willing to pay money for so that you aren’t trying to create demand for something people don’t want.
6. Come up with a way you can solve this problem permanently for your target audience better than or in a different way than your competitors.
7. Brainstorm unique solutions you can provide that will be perceived as better than other solutions that no one else is marketing the same way. Make it simpler, less expensive, or to a narrower target audience.
8. List the steps or processes you would take them through.
Now you have the starting place for an article, a talk, a workshop, or an information product you can use to test the response of your intended audience to your unique solution.
[tags] small business marketing [/tags]