11 MONSTROUS Small Business Marketing Mistakes and How To Avoid Them - Targeting a niche...
(Page 6 of 8 )
Targeting a niche market is the smartest way to market. Yet, targeting a market that is too specific will limit your ability to succeed long term. For example, a market that might be too specific would be: female pilots under the age of 35 who fly ONLY New York to London flights. That's a pretty narrow market to sustain your business in the long term unless you can capture the ENTIRE market with a product or service that has a high profit point and customers need to use or replace it often.
In that same vein, a market that is begging for the service or product you have but cannot afford it will also be a business impossible to sustain. Never compete for someone's rent money. Your target market must have the means to buy your products and services.
Avoid this mistake by:
Creating your customer profile to identify characteristics of your potential buyers,
Identifying a niche market,
Examining the long term potential for new and repeat sales.
MONSTROUS Marketing Mistake Number 10: Focusing On Acquiring New Customers Instead of Promoting to Current or Previous Customers
When you first start a business you have little choice but to focus on gaining new customers. The cost of finding those new customers can be expensive, which is one reason it is so important to really target a specific niche. However, once you've made just one sale, you're ready to start looking at other marketing options.
Wouldn't you like to:
... slash your marketing costs by half or more?
... reach proven buyers for your service or products?
More Website Marketing Articles
More By Jase Dow