<p>I have realized just lately that in spite of the current trend of “niche-ing down” or targeting one specific demographic, some of us continue to serve two markets and although they sometimes have things in common, they do not intersect. I have two very different products and even though some of the consumers of Product #1 may need #2, and vice versa, not everyone wants or needs both.</p>
<p>I was listening to a podcast last week where the presenter was talking about Venn Diagrams – remember those?</p>
<p><strong>Venn diagrams</strong> or <em>set diagrams</em> are diagrams that show all hypothetically possible logical relations between a finite collection of sets (groups of things). Venn diagrams were conceived around 1880 by John Venn. They are used in many fields, including set theory, probability, logic, statistics, and computer science.</p>
<p>How many of you are trying so hard to follow the instructions of the gurus out there who are telling you to find a specific audience, target market or particular niche where you offer your products and if you can just find that one mysterious niche, all will be well.</p>
<p>I’m here to tell you, I can’t do that and neither can some of my peers. Can any of you relate to the stress and frustration of trying to force a multi-niche product to fit into a market where it doesn’t sing?</p>
<p>So how do you manage a multi-market business? I know it’s more work, but it’s important to know both your audiences. It’s also important to be absolutely sure that you do have unique demographics that use your products. Saying you have two markets is not just an easy way to avoid drilling down to identify your people. All the work you do to get to know your specific audiences (I really hate the word “target”) will tell you where they intersect and where they don’t. Then you can begin to discern who those markets are and how either of your products can serve them.</p>
<p>Until you can mentally sit down for a cup of coffee with your ideal client/customer, until you can close your eyes and see them sitting across the table from you; that means know what they like to eat, how they take their coffee, who they watch on TV and so forth, you won’t know how to approach them.</p>
<p>The fun for me and I hope for you, is the journey to get to know those you most want to attract. Go meet them, greet them, and get to know them intimately. Here are a few tips to get you started.</p>
<p>1) Put yourself in their shoes mentally – who would most likely buy from you/hire you?</p>
<p>2) Where do those people you identified above shop, what do they read, what do they wear?</p>
<p>3) Once you figure out where they shop, go there, too! Take a look around and see where this group is not being served.</p>
<p>4) Try taking a survey – start talking to people you would most like to attract and ask questions, then, most importantly, listen to the answers.</p>
<p>5) If they belong to an organization, contact the organization to see if they have information you can use.</p>
<p>It all comes down to knowing your audience. Once the strangers in your audience become friends, you’ll know them well enough to be able to directly address their needs – no matter which of your niches they fit into. Remember your own priorities. You are here to be of service on your way to being profitable. The core message behind sales is always to find a need and fill it. If you have a product designed to help more than one market segment, so be it.</p>
<p> </p>
<p> </p>
2009-10-15T06:36:44Z
-1.53573
254
6935
true
15
9028
one-niche-or-two-managing-multiple-market-sectors
5
2009-10-15T10:09:46Z
2009-10-15T17:10:01Z
Are you having a hard time drilling down and squeezing what you do into just one niche? Maybe you don't have to.
One Niche Or Two - Managing Multiple Market Sectors
1
2009-10-15T17:10:01Z