Niche Marketing Blog |

Niche Market Research

September 26, 2008 by  
Filed under Internet Marketing, Other Stuff

A big factor to successful niche marketing is knowing who your target audience is and how to reach them.  To determine what types of customers you are trying to reach you should be asking yourself the following questions:

  • What age group are you trying to sell to?
  • Are you selling to a specific ethnic group or gender?
  • Will most of your customers be married or single?
  • How fast will most Internet connections be?
  • Will you target customers who have children?
  • What level of education will most of your customers have?
  • Where will most of your customers live?
  • Will your customers have any specific hobbies?

The more you know about your customers the easier it will be to come up with a marketing plan.  You’ll also be able to design a website that is the most appealing to these customers.  The biggest advantage of marketing on the Internet is that it allows you to become very targeted towards your desired customers.
Targeting Different Types of Customers

Marketing online is the same as marketing anywhere else.  There are certain products, colors, themes, and lingo that will appeal more to some customers than to others. When you know what type of customers you’re targeting you can meet their needs so that you grab their attention.  When you use certain features that pull customers to your website you have the ability to gain their attention, loyalty, and trust.  For example, studies show that most female shoppers like to save money and time.  Over 80% of purchases in the home are influenced in some way by women.  As well, these same studies show that women like to able to compare costs fast and easily without getting any kind of sales pressure.  If you’re trying to target women customers some things that you should keep in mind include (1) giving them a feeling of comfort and community, (2) let your website deal with everyday problems, and (3) focus on education, health, and family.
What People Are Buying

The most common (and best) advice I’ve ever heard given for ANYONE wanting to sell online is this: Sell what people are buying.

One of the most unbeaten ways that you can find out what customers want to buy, and find out more information about, is to do market studies.  When you watch and listen to what it is that customers are interested in, you raise your chances of getting their attention and giving them the information that they are searching for.

Take some time to carefully check the products and the services that you’re offering on your website or through your website.  You should be asking yourself include (1) what are the rewards and disadvantages to your business of selling or advertising online, (2) will you take payment online, (3) what details will you have to consider about shipping your product to customers, and (4) are you willing to constantly update and keep up your website.

When you have an obvious business idea in mind, and know exactly what it is that you’re selling, you’ll want to find out what other businesses out there offer the same product or service.  You might want to talk to potential customers to see how they react to your product.

Find other websites that are related to your business and take some time checking them out.  Look at how they endorse and market similar products or services as well as how each website is laid out and navigated. If a similar website uses a shopping cart for online purchases check it out.  See how smoothly the process works and what can be done to perk up the process.  Don’t just look at e-commerce sites that are within your own country since customers won’t limit their shopping to those countries where they live.  Look at the way other countries handle e-commerce websites so that you have a broad spectrum of websites to compare yours with.

Here are some things that you should be asking yourself when you’re doing market research for your online business:

  • Who are your probable customers?
  • What other businesses sell the same products or services?
  • Who is going to be your objective market and how are you going to reach them?
  • How much will it cost you to market, manufacture, and deliver your product or service?
  • Who is your competition?
  • How much can you fairly charge for your product or service?

What Are Customers Buying: There are many ways that you can find out what customers are buying both from online businesses and from brick and mortar businesses.  Once you find out what customers are buying you can concentrate your website content and articles on what your mainstream customers are looking for.  Some of the ways that you can find out what people are buying include:

  • Check out the malls.  Go to a shopping mall and sit for awhile.  Make note of the shopping behaviours of those people who are around you.
  • Establish what stores have all the action.  Watch to see which stores have the most consumer traffic.  Take a look inside to see what is being sold, how it is being sold, how much it is selling for, and how the product is being marketed.
  • Take a look at advertising and marketing.  Although you may not be selling the same items as those stores in the mall you should still a look at what makes these stores stand out among the rest.  How are the products grouped together in the store?  How is the product being advertised.
  • Get on mailing lists and see what kind of offers you get consistently.
  • Search for related keywords and see what pay per click ads are running consistently (week after week, month after month).

What you find out from brick and mortar stores can be applied to your online business.  Learn what works when it comes to advertising online.  Find out what is visually appealing for consumers that makes them want to buy that particular product.

Got questions? Drop me a comment! :wink:

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