Are You Making These Niche Marketing Mistakes?

Did you know that... Niche marketing is perhaps the last frontier for the small to medium sized business to survive and thrive on the internet?Huge (500 pound sized gorilla) corporations are swallowing up online markets like gumdrops. The only way for the small business to survive is to focus on specialized niche markets.Here Are The Top 6 Niche Marketing Mistakes Most People Make ... Plus The Quick And Easy Ways To Overcome Them.1. Not Targeting A Specific Audience. Trying To Sell To Everyone.One of the biggest rookie mistakes people make when attempting to market a product or service is thinking you can sell to everyone.The famous entertainer Bill Cosby once said, "I don't know what the secret of success is, but I know the secret of failure and that was trying to please everybody." And that's also a major niche marketing mistake as well.Seasoned marketing pros will tell you the more you can focus on a specific targeted group of people ... The better your chances of success.2. Not Thoroughly Knowing Your Audience.This seems like an obvious point, but it would shock you how little many people know who their target audience is. Not to mention their current habits, dislikes, wants, irritations and future goals.The way to know your target audience is summed up in one three letter word ... ASK! Ask your customers what they want, ask them want they dislike or ask them in the form of oral or written surveys.3. Not Knowing Your Competition's Strengths And Weaknesses.To out-niche your competition you need to know there strengths and weaknesses. What advantages do they have over you? And what advantages do you have over them? Can you deliver faster than them? Do you have more personal service? Can you offer more choices? Are you open later?You should know your competition like the back of your hand. Find the tasks your competition can't, won't or doesn't like to do - and find a way to do it. This is a quick way to set yourself apart.4. Not Selling Your Product Or Service The Way Your Market Wants To Buy.The way people want to buy today is the way that makes it the most convenient for them. Your research and testing is the only way to find out what that is.Some people want to pay by credit card. Others prefer to phone into a toll-free 800 line. Others may prefer to use paypal and still others may prefer to pay by check. Have you asked? Have you tested?5. Selling Your Product Or Service At The Wrong Price.Many marketers go through the trouble, time and money creating or finding a product or service to sell. And invest valuable time and money on marketing. But often fail because they offer it at the wrong price. Either too high or too low.If your price is too high people will refuse to see the value and reject it. And if the price is too low people may buy it, but you'll lose money on it. The price must satisfy both worlds and the only way to do that is by testing. Or simply find a way to add more value to your offer.6. Having A Routine Product Or Service.There is nothing wrong with having a routine product or service to sell. What's wrong is allowing it to remain a routine product or service and selling it as a routine product or service to your customers.If you have a routine product or service, can you add something too it your competition doesn't have. Can you add a service. Can you add a bonus item? Can you add an extra guarantee? Can you add an extra convenience?If you use my six step checklist, it will help you avoid mistakes that can sabotage your promotion and marketing efforts.Honestly I wish I had these tips before I started my online marketing. I could have saved a ton of wasted time and money.Now you can avoid the mistakes most people make at some time in there marketing careers. Use these niche marketing tips to create and improve your niche marketing position. Use them wisely and even the large 500 pound gorilla corporation will find it hard to peel your profits away from you. 2008-03-30T04:02:23Z