how to choose a profitable niche to market to

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“Find and Feed” by Maralyn Dyck [email protected]

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Page 1: How To Choose A Profitable Niche To Market To

“Find and Feed”

by Maralyn Dyck [email protected]

Page 2: How To Choose A Profitable Niche To Market To

Niche – A clearly definable group of people with mutual interests and needs.

4/29/2014 2 [email protected]

Page 3: How To Choose A Profitable Niche To Market To

Niche – A clearly definable group of people with mutual interests and needs.

Niche, target market and subcategory can be used interchangeably.

4/29/2014 3 [email protected]

Page 4: How To Choose A Profitable Niche To Market To

Niche – A clearly definable group of people with mutual interests and needs.

Niche, target market and subcategory can be used interchangeably.

A niche fits under the umbrella of a category or market. It is more segmented and unique.

EG Products are a market; one product line is a niche.

4/29/2014 4 [email protected]

Page 5: How To Choose A Profitable Niche To Market To

Niche – A clearly definable group of people with mutual interests and needs.

Niche, target market and subcategory can be used interchangeably.

A niche fits under the umbrella of a category or market. It is more segmented and unique.

EG Products are a market; one product line is a niche.

Subniche means being further defined.

EG A Skin Care System niche: An inidividual item in the Skin Care System would be a subniche. Your sales presentation would include all the subniches in your Skin Care System.

4/29/2014 5 [email protected]

Page 6: How To Choose A Profitable Niche To Market To

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Page 7: How To Choose A Profitable Niche To Market To

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What is a common marketing mistake when someone wants to promote a really great product?

They rush right out and start promoting that product as fast and furious as they can!

[email protected]

Page 8: How To Choose A Profitable Niche To Market To

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What is a common marketing mistake when someone wants to promote a really great product?

They rush right out and start promoting that product as fast and furious as they can!

What should they do instead?

They should pick the right audience and qualify their prospects!

[email protected]

Page 9: How To Choose A Profitable Niche To Market To

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What is a common marketing mistake when someone wants to promote a really great product?

They rush right out and start promoting that product as fast and furious as they can!

What should they do instead?

They should pick the right audience and qualify their prospects!

“Nothing will determine your long term success more than the ability to pick the right audience and qualify your prospects.”

- Ann Sieg

[email protected]

Page 10: How To Choose A Profitable Niche To Market To

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What is a common marketing mistake when someone wants

to promote a really great product?

They rush right out and start promoting that product as fast

and furious as they can!

What should they do instead?

They should pick the right audience and qualify their

prospects!

They need to step back and take an objective look at what

they are promoting and make sure they are promoting the

right product to the right audience.

“Nothing will determine your long term success more than the ability to pick the right audience and qualify your prospects.”

- Ann Sieg

[email protected]

Page 11: How To Choose A Profitable Niche To Market To

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Page 12: How To Choose A Profitable Niche To Market To

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The importance of uniqueness and differentiation

What are some of the things you can do to stand out from

the crowd and why would you need to do this?

[email protected]

Page 13: How To Choose A Profitable Niche To Market To

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The importance of uniqueness and differentiation

What are some of the things you can do to stand out from

the crowd and why would you need to do this?

If you are in a very competitive business, such as MLMs, you need to find a way to brand yourself, make yourself stand out and be noticed so that people can find you.

[email protected]

Page 14: How To Choose A Profitable Niche To Market To

4/29/2014 14

The importance of uniqueness and differentiation

What are some of the things you can do to stand out from the crowd and why would you need to do this?

If you are in a very competitive business, such as MLMs, you need to find a way to brand yourself, make yourself stand out and be noticed so that people can find you.

You can do this by packaging it differently, by giving it a different spin or by targeting a very unique niche within your business.

[email protected]

Page 15: How To Choose A Profitable Niche To Market To

4/29/2014 15

The importance of uniqueness and differentiation

What are some of the things you can do to stand out from the crowd and why would you need to do this?

If you are in a very competitive business, such as MLMs, you need to find a way to brand yourself, make yourself stand out and be noticed so that people can find you.

You can do this by packaging it differently, by giving it a different spin or by targeting a very unique niche within your business.

You have to stand out! People need to know why your product is better than everyone else’s. What do you have to offer that is different from the crowd?

[email protected]

Page 16: How To Choose A Profitable Niche To Market To

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How can this be done?

You need to discover your best avatar! An avatar is your best possible prospect, one who fits your niche and needs what you offer.

[email protected] 16

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How can this be done?

You need to discover your best avatar! An avatar is your best possible prospect, one who fits your niche and needs what you offer.

You need to be their solution provider!

[email protected] 17

Page 18: How To Choose A Profitable Niche To Market To

4/29/2014

How can this be done?

You need to discover your best avatar! An avatar is your best possible prospect, one who fits your niche and needs what you offer.

You need to be their solution provider!

One of the highest skill sets you can master is emotional intelligence.

[email protected] 18

Page 19: How To Choose A Profitable Niche To Market To

4/29/2014

How can this be done?

You need to discover your best avatar! An avatar is your best possible prospect, one who fits your niche and needs what you offer.

You need to be their solution provider!

One of the highest skill sets you can master is emotional intelligence.

Emotional intelligence is a highly intuitive ability to be aware of the other person’s wants and needs and finding ways for those to be positively expressed for the mutual benefit of both parties.

[email protected] 19

Page 20: How To Choose A Profitable Niche To Market To

4/29/2014

How can this be done?

You need to discover your best avatar! An avatar is your best possible prospect, one who fits your niche and needs what you offer.

You need to be their solution provider!

One of the highest skill sets you can master is emotional intelligence.

Emotional intelligence is a highly intuitive ability to be aware of the other person’s wants and needs and finding ways for those to be positively expressed for the mutual benefit of both parties.

“Make an offer that meets a deep need or solves a perplexing problem, understands their doubts, sympathizes with their resistance, answers their questions honestly.” - Master

Copywriter John Carlton

[email protected] 20

Page 21: How To Choose A Profitable Niche To Market To

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Page 22: How To Choose A Profitable Niche To Market To

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You need to make yourself of value to them!

[email protected]

Page 23: How To Choose A Profitable Niche To Market To

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You need to make yourself of value to them!

You can do this by positioning yourself as an ally and trusted advisor.

[email protected]

Page 24: How To Choose A Profitable Niche To Market To

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You need to make yourself of value to them!

You can do this by positioning yourself as an ally and trusted advisor.

Learn to listen to your prospect, empathize with them and help them solve their wants and needs. Be real and genuine.

[email protected]

Page 25: How To Choose A Profitable Niche To Market To

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You need to make yourself of value to them!

You can do this by positioning yourself as an ally and trusted advisor.

Learn to listen to your prospect, empathize with them and help them solve their wants and needs. Be real and genuine.

Provide training and help them build their business their way, not yours! Think of what is best for them, not what is best for you.

[email protected]

Page 26: How To Choose A Profitable Niche To Market To

4/29/2014 26

You need to make yourself of value to them!

You can do this by positioning yourself as an ally and trusted advisor.

Learn to listen to your prospect, empathize with them and help them solve their wants and needs. Be real and genuine.

Provide training and help them build their business their way, not yours! Think of what is best for them, not what is best for you.

By becoming a trusted advisor you are over halfway to closing with your prospect. Once they trust you, they will listen to you, knowing that you really care about what they want and need.

[email protected]

Page 27: How To Choose A Profitable Niche To Market To

4/29/2014 27

You need to make yourself of value to them!

You can do this by positioning yourself as an ally and trusted advisor.

Learn to listen to your prospect, empathize with them and help them solve their wants and needs. Be real and genuine.

Provide training and help them build their business their way, not yours! Think of what is best for them, not what is best for you.

By becoming a trusted advisor you are over halfway to closing with your prospect. Once they trust you, they will listen to you, knowing that you really care about what they want and need.

It is our responsibility to show the prospect that we are worthy of their time and attention, not the other way around!

[email protected]

Page 28: How To Choose A Profitable Niche To Market To

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What is a message to market match?

[email protected]

Page 29: How To Choose A Profitable Niche To Market To

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What is a message to market match?

Often times the delivery and the customer experience is more important than the product itself.

[email protected]

Page 30: How To Choose A Profitable Niche To Market To

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What is a message to market match?

Often times the delivery and the customer experience is more important than the product itself.

When you have a particular need and someone responds with something that meets that particular need, how do you feel?

[email protected]

Page 31: How To Choose A Profitable Niche To Market To

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What is a message to market match?

Often times the delivery and the customer experience is more important than the product itself.

When you have a particular need and someone responds with something that meets that particular need, how do you feel?

That is what happens when your message matches the need of your prospect. They will listen tentatively and there will be a good chance your prospect will purchase through you. You have gained their trust and respect.

[email protected]

Page 32: How To Choose A Profitable Niche To Market To

4/29/2014 32

What is a message to market match?

Often times the delivery and the customer experience is more important than the product itself.

When you have a particular need and someone responds with something that meets that particular need, how do you feel?

That is what happens when your message matches the need of your prospect. They will listen tentatively and there will be a good chance your prospect will purchase through you. You have gained their trust and respect.

Pay close attention to the messages you give and the responses you receive and learn from them.

[email protected]

Page 33: How To Choose A Profitable Niche To Market To

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Why is it effective?

[email protected]

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Why is it effective?

It triggers an emotional response and lessens the objections that they might have raised. (We will deal with objections in another series of lessons.)

[email protected]

Page 35: How To Choose A Profitable Niche To Market To

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Why is it effective?

It triggers an emotional response and lessens the objections that they might have raised. (We will deal with objections in another series of lessons.)

Be mindful of how you project your messages in ALL your communications.

[email protected]

Page 36: How To Choose A Profitable Niche To Market To

4/29/2014 36

Why is it effective?

It triggers an emotional response and lessens the objections that they might have raised. (We will deal with objections in another series of lessons.)

Be mindful of how you project your messages in ALL your communications.

Start with the person’s point of reference, not your own.

[email protected]

Page 37: How To Choose A Profitable Niche To Market To

4/29/2014 37

Why is it effective?

It triggers an emotional response and lessens the objections that they might have raised. (We will deal with objections in another series of lessons.)

Be mindful of how you project your messages in ALL your communications.

Start with the person’s point of reference, not your own.

Stop long enough to wonder what challenges the other person may be facing and be willing to at least look at it from their point of view.

[email protected]

Page 38: How To Choose A Profitable Niche To Market To

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Why is it effective?

[email protected]

Page 39: How To Choose A Profitable Niche To Market To

4/29/2014 39

Why is it effective?

It triggers an emotional response and lessens the objections that they might have raised. (We will deal with objections in another series of lessons.)

[email protected]

Page 40: How To Choose A Profitable Niche To Market To

4/29/2014 40

Why is it effective?

It triggers an emotional response and lessens the objections that they might have raised. (We will deal with objections in another series of lessons.)

Be mindful of how you project your messages in ALL your communications.

[email protected]

Page 41: How To Choose A Profitable Niche To Market To

4/29/2014 41

Why is it effective?

It triggers an emotional response and lessens the objections that they might have raised. (We will deal with objections in another series of lessons.)

Be mindful of how you project your messages in ALL your communications.

Start with the person’s point of reference, not your own.

[email protected]

Page 42: How To Choose A Profitable Niche To Market To

4/29/2014 42

Why is it effective?

It triggers an emotional response and lessens the objections that they might have raised. (We will deal with objections in another series of lessons.)

Be mindful of how you project your messages in ALL your communications.

Start with the person’s point of reference, not your own.

Stop long enough to wonder what challenges the other person may be facing and be willing to at least look at it from their point of view.

[email protected]

Page 43: How To Choose A Profitable Niche To Market To

4/29/2014 43

Why is it effective?

It triggers an emotional response and lessens the objections that they might have raised. (We will deal with objections in another series of lessons.)

Be mindful of how you project your messages in ALL your communications.

Start with the person’s point of reference, not your own.

Stop long enough to wonder what challenges the other person may be facing and be willing to at least look at it from their point of view.

Often times the delivery and the customer experience is more important than the product itself.

[email protected]

Page 44: How To Choose A Profitable Niche To Market To

4/29/2014 44

Learn to advocate their point of view even though you disagree with them and have a different point of view.

[email protected]

Page 45: How To Choose A Profitable Niche To Market To

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Learn to advocate their point of view even though you disagree with them and have a different point of view.

This will help you become a more effective communicator.

[email protected]

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Learn to advocate their point of view even though you disagree with them and have a different point of view.

This will help you become a more effective communicator.

Are you empathetic towards other people’s needs or do you just brush them off as being insignificant?

[email protected]

Page 47: How To Choose A Profitable Niche To Market To

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Learn to advocate their point of view even though you disagree with them and have a different point of view.

This will help you become a more effective communicator.

Are you empathetic towards other people’s needs or do you just brush them off as being insignificant?

Have you solved a problem that other people are wanting solved? Share it.

[email protected]

Page 48: How To Choose A Profitable Niche To Market To

4/29/2014 48

Learn to advocate their point of view even though you disagree with them and have a different point of view.

This will help you become a more effective communicator.

Are you empathetic towards other people’s needs or do you just brush them off as being insignificant?

Have you solved a problem that other people are wanting solved? Share it.

Be aware of the experiences and information that you learn from others and seek to emulate them.

[email protected]

Page 49: How To Choose A Profitable Niche To Market To

4/29/2014 49

Learn to advocate their point of view even though you disagree with them and have a different point of view.

This will help you become a more effective communicator.

Are you empathetic towards other people’s needs or do you just brush them off as being insignificant?

Have you solved a problem that other people are wanting solved? Share it.

Be aware of the experiences and information that you learn from others and seek to emulate them.

Learn to save and archive information in order to create a library of material that does a good job of building trust and customer advocacy.

[email protected]

Page 50: How To Choose A Profitable Niche To Market To

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Working the phone is one of the best ways to get to know your prospect/customer at an intimate level.

[email protected]

Page 52: How To Choose A Profitable Niche To Market To

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Working the phone is one of the best ways to get to know your prospect/customer at an intimate level.

Observe social interaction on the web that helps you identify needs and challenges of a developing niche.

[email protected]

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Working the phone is one of the best ways to get to know your prospect/customer at an intimate level.

Observe social interaction on the web that helps you identify needs and challenges of a developing niche.

Do a Google search for forums, discussion boards or groups related to your chosen niche. (Be sure to put “forums”, “groups”, “discussion boards” in quotes.)

[email protected]

Page 54: How To Choose A Profitable Niche To Market To

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Observe social interaction on the web that helps you identify needs and challenges of a developing niche.

[email protected]

Page 55: How To Choose A Profitable Niche To Market To

4/29/2014 55

Observe social interaction on the web that helps you identify needs and challenges of a developing niche.

Do a Google search for forums, discussion boards or groups related to your chosen niche. (Be sure to put “forums”, “groups”, “discussion boards” in quotes.)

[email protected]

Page 56: How To Choose A Profitable Niche To Market To

4/29/2014 56

Observe social interaction on the web that helps you identify needs and challenges of a developing niche.

Do a Google search for forums, discussion boards or groups related to your chosen niche. (Be sure to put “forums”, “groups”, “discussion boards” in quotes.)

If very few mention your chosen niche, change niches. You want an active niche that does not have too many people providing competition.

[email protected]

Page 57: How To Choose A Profitable Niche To Market To

4/29/2014 57

Observe social interaction on the web that helps you identify needs and challenges of a developing niche.

Do a Google search for forums, discussion boards or groups related to your chosen niche. (Be sure to put “forums”, “groups”, “discussion boards” in quotes.)

If very few mention your chosen niche, change niches. You want an active niche that does not have too many people providing competition.

Often times it is the intangibles of tone, voice and delivery of customer experience that will have the highest consideration.

[email protected]

Page 58: How To Choose A Profitable Niche To Market To

4/29/2014 58

Observe social interaction on the web that helps you identify needs and challenges of a developing niche.

Do a Google search for forums, discussion boards or groups related to your chosen niche. (Be sure to put “forums”, “groups”, “discussion boards” in quotes.)

If very few mention your chosen niche, change niches. You want an active niche that does not have too many people providing competition.

Often times it is the intangibles of tone, voice and delivery of customer experience that will have the highest consideration.

Listen to what your customers are saying about your competitor’s products or service.

[email protected]

Page 59: How To Choose A Profitable Niche To Market To

4/29/2014 59

Observe social interaction on the web that helps you identify needs and challenges of a developing niche.

Do a Google search for forums, discussion boards or groups related to your chosen niche. (Be sure to put “forums”, “groups”, “discussion boards” in quotes.)

If very few mention your chosen niche, change niches. You want an active niche that does not have too many people providing competition.

Often times it is the intangibles of tone, voice and delivery of customer experience that will have the highest consideration.

Listen to what your customers are saying about your competitor’s products or service.

Marketing is reaching the right person, with the right message, through the right medium, at the right time!

[email protected]

Page 60: How To Choose A Profitable Niche To Market To

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Now it is time to assess your passion and how it aligns with your niche market.

[email protected]

Page 61: How To Choose A Profitable Niche To Market To

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Now it is time to assess your passion and how it aligns with your niche market.

You want to have a high interest or passion for the niche you have chosen.

[email protected]

Page 62: How To Choose A Profitable Niche To Market To

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Now it is time to assess your passion and how it aligns with your niche market.

You want to have a high interest or passion for the niche you have chosen.

You need passion to provide content or conversation that would interest your prospect.

[email protected]

Page 63: How To Choose A Profitable Niche To Market To

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Now it is time to assess your passion and how it aligns with your niche market.

You want to have a high interest or passion for the niche you have chosen.

You need passion to provide content or conversation that would interest your prospect.

The prospect knows when you are just “selling”.

[email protected]

Page 64: How To Choose A Profitable Niche To Market To

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Now it is time to assess your passion and how it aligns with your niche market.

You want to have a high interest or passion for the niche you have chosen.

You need passion to provide content or conversation that would interest your prospect.

The prospect knows when you are just “selling”.

They want someone who cares about their needs, not someone who is lining their own pockets with their purchases.

[email protected]

Page 65: How To Choose A Profitable Niche To Market To

4/29/2014 65

Now it is time to assess your passion and how it aligns with your niche market.

You want to have a high interest or passion for the niche you have chosen.

You need passion to provide content or conversation that would interest your prospect.

The prospect knows when you are just “selling”.

They want someone who cares about their needs, not someone who is lining their own pockets with their purchases.

If your passion is not about solving problems, it is going to be difficult to find people who need you.

[email protected]

Page 66: How To Choose A Profitable Niche To Market To

4/29/2014 66

Now it is time to assess your passion and how it aligns with your niche market.

You want to have a high interest or passion for the niche you have chosen.

You need passion to provide content or conversation that would interest your prospect.

The prospect knows when you are just “selling”.

They want someone who cares about their needs, not someone who is lining their own pockets with their purchases.

If your passion is not about solving problems, it is going to be difficult to find people who need you.

We are here to solve people’s needs. The bigger the needs the more options for solutions. That is what we are after.

[email protected]

Page 67: How To Choose A Profitable Niche To Market To

4/29/2014 67

Now it is time to assess your passion and how it aligns with your niche market.

You want to have a high interest or passion for the niche you have chosen.

You need passion to provide content or conversation that would interest your prospect.

The prospect knows when you are just “selling”.

They want someone who cares about their needs, not someone who is lining their own pockets with their purchases.

If your passion is not about solving problems, it is going to be difficult to find people who need you.

We are here to solve people’s needs. The bigger the needs the more options for solutions. That is what we are after.

Remember, as you choose your niche, it is about aligning your message (you, your product, your delivery) to the customer.

[email protected]

Page 68: How To Choose A Profitable Niche To Market To

4/29/2014 68 [email protected]