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NICHE
GLITCH: Why Skim The Scum
When You Can Plumb The Depths?
Don't
Leave Money On The Table
From
the desk of Timothy A. Gross
Everyone
seems to be on the "Niche" buzzword bandwagon
- Like targeting niches is some new discovery!
Dictionary
Definition of "Niche":
A
special area of demand for a product or service
Well...
am I missing something, or isn't that the definition of
what marketing is all about??
Anyway
- One "niche glitch" that I see
occurring is the advice to find a niche (ANY niche), and
create a product for it... Then, find another niche and
create a product for IT, etc., etc. Examples:
-
How
To Teach Your Monkey To Drive A Car With Its Feet
-
How
To Make Your Lawn Look Like A Golf Course Without Trying
-
How
To Enlarge Your Penis With A Shop Vac And Some Duct Tape
- How
To Turn Your Bathroom Into A Profitable Meth Lab
-Whatever.
Anyway, create a bunch of products for a bunch of market
niches.
Fine...
"Multiple Streams Of Income", and all of that.
But
if that's ALL you're doing, you're just skimming the surface
of a very deep pool... and instead of diving in,you're running
off to another pool too quickly. And...
That
Doesn't Maximize Your Profit!
Because
the first sale is the hardest. And depending on your
margins, you may be able to make little or NO money off
the first sale. (Or even if you are making good money on
the first sale, that should only be the beginning.)
If
you're not using your head, you'll give up when you were
this close to success, and start muddling
around in your next pool, thinking, "man, this niche
stuff is harder than it looks!".
...What
you should be doing is be testing
different products in different niches to find which one
works the best... then, instead of just skimming pennies
off the top, DIVE IN and start grabbing those bullion bricks
at the bottom.
That's
right: Start creating higher-priced backend products
to sell to your initial buyers.
If
somebody bought your manual on how to teach a monkey to
drive a car with his feet:
-
Sell
him a video training course that explains in better detail
what you taught in your manual.
-
Sell
him a special padded steering wheel that's easier to steer
with.
-
Start
a recurring billing delivery of bananas every week that
dings his credit card automatically.
-
Heck,
sell him a smarter monkey that's already trained!
The
point is, it's common (although often times ignored) knowledge
that a previous customer is much easier to sell to again
than a new prospect.
So
yes - Absolutely test out as many possible products and
market niches as you can... But when you find your winner,
don't make the mistake of just skimming some money off the
top and moving on...
Stake
your claim. Diversify in that niche. Become
the expert. Take care of your customer base and keep selling,
and selling, and selling them more.
It
can turn your niche discovery into a career, not just something
that pays for your next vacation.
To
your success, Tim Gross
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