"I'm not offended by all the dumb blonde jokes because I know I'm not dumb... and I also know that I'm not blonde."Dolly Parton
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Network Marketing training- MLM Compensation Plans- What You MUST Know
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Do you think because you have a web site, they
will come?
Do you think everyone is your prospect?
Who is your targeted niche market?
• Small Business Owners
• Doctors
• Homeowners
• Executives
Do you want to maximize your efforts, spend
less money and time for bigger results? Do
you want relationships, trust, respect, name
recognition and referrals?
Would you like for your prospect to make the
decision to do business with you before they
know they will?
What did I just say?
People make their buying decision in their
mind before they actually take action.
They visualize themselves in the free car
offered by your company.
(They decide to work with you and your company
because they visualize themselves in their dream car
paid for by you company).
Their swimsuit cover up does not have to go to
their knees because they are slimmer.
(She decided to loose weight befor going
to Tahiti on vacation).
The grocery list is made before they reach the store....
Let's look at exactly who you want to and can
reach online.
Don't forget, the Internet is world wide!
Thinking cross-culturally, half of the internet
users are outside the U.S. and easily read
the English language.
It's a BIG market out there on the World
Wide Web!
You don't have to attract the millions you
only need to attract a few thousands. Wouldn't
you rather have 10,000 loyal customers than
1,000,000 single buyers?
Robert Allen, Multiple Streams of Income.
Over one million people CAN use your product or
service. Who is LIKELY to use your product or
service? One of the best ways to do this is to
find a target or niche market.
First we'll start with product.
What product are YOU marketing? It is amazing
to me that the biggest problem with most marketers
is they have never defined what they are selling!
Your business may have more than one product. You
need to decide what product or products, or product
category you like the best. The products or results
you get passionate about are usually your better
choice.
Remember business ownership is a product with referral
and affiliate programs.
Go to your company web site, catalog, whatever
medium you have and select no more than three products
or product categories that excite you.
You've selected your products or services. Take each
product separately to find your niche market's
motivation.
• Write down all of the reasons people want,
need or desire your product.
• Write down all the fears they may have
associated with buying it. ( won't work, poor value, breaks
easily, tried others that didn't get results desired...)
• Write all the fears they may have associated
with not buying it. (I will still have the knee pain,
lack of energy, won't have money to send children to
college, will have to work menial job after retirement,
have to go back to work when the children go back to
school...I will look chubby in my swim suit)
Remember your prospect wants to satisfy a motivation.
Your product is just a means to an end.
• Write down all the features of your product and
product category.
• Write down your offer and guarantee.
• Write down your service that will satisfy your
customer's motivations.
Now, with this information you are ready to define your
targeted niche market. You know what they are
looking for.
On the internet, just like off the internet, people see
themselves as individuals and want to be treated that way.
As you go out into your target market areas on the internet
and build relationships you are helping them make the
mental purchase.
They buy where you are pointing people to get the
information. Usually that is your personal web site,
or through your personal web site.
Do you already have a targeted niche market?
Take a look at your customers. Do they have anything
in common? Do some of them play sports, the same sport?
Are any of them fishermen? Do they do the same
kind of fishing?
One network marketing distributor for a health
products company looked at the demographics of
her downline team partners and realized the majority
were health or physical education teachers or coached
at the junior high and high school levels.
She now has great success targeting a niche market
of female physical education teachers who are married,
have children and are members of the same professional
association. All on the internet!
WHAT IS A NICHE MARKET?
A niche market is a narrowly defined group that includes
all of the following:
• Individuals in the group have the same
specialized interests and needs.
• They have a strong desire for what you offer.
• You have (or you can create) a compelling
reason for prospects in the group to do business
with you instead of with someone else.
• You can easily reach individual prospects
within the group.
• The group is large enough to produce the
volume of business you need.
• The group is small enough that your competition
is likely to overlook it.
By narrowing your focus to a targeted niche market
is where maximizing your time and efforts comes in.
For example, some businesses describe their target
market as Anyone who wants their own business.
• Executives who want to get out of the corporate
environment and start their own business.
• New mothers who want to start a home based business.
• Students who want to generate some extra income.
Anyone who wants to feel and look better.
• All women
• All men
• People who have animals
These are broad audiences. How are you going to cater to
specifically defined personal interests of individuals
in this group?
Any promotional message to this group would have to be
very general.
Do you respond to general talk? People respond only
when they feel you are talking directly to them about
their individual needs.
What are the special advantages of having a niche market?
• A highly defined, small niche market can insulate
you from competition. Other businesses owners or sales
people are likely to overlook it.
• Large businesses will find the market segment too
small to bother with.
• You can establish relationships and referrals in
smaller communities than in large impersonal ones.
How do you Find Your Targeted Niche Market on the Internet?
What do you say when you get there?
Is your target market specific enough that you can develop
your sales messages so sharply focused that prospects
believe you're talking specifically about them and to them?
Find your niche market on the internet.
Tailor your sales messages to the specific interests and
needs of that niche market.
You'll see an immediate response and watch the increase in
your sales and profits.
It Is Your Business and It Is Your Bottom Line!
About the Author
Vickie Morrow, is a veteran Home Based Business Owner
and veteran marketer on and off the internet. You can
receiver her newsletter. To subscribe
emailto:itisyourbiz@quicktell.net
She can be reached through her web site
http://mindingyourownbiz.com
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