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Related Modules
- Lead Generation
- Building and Maintain Relationship
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Marketing Paradigm
- Attraction Marketing
- Permission Marketing
- Guerrilla Marketing
- Direct Response Marketing
- Product Creation
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0. About Niche
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what is Niche
- Def: Distinct (sub)Segment what allow more targeted activity on targeted customers
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Product VS Market
- Product or Service is our offer that solve problem or being of value to buyer life
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there are niche concept for product as well and there are two major purposed of doing this
- there are two major purpuse of doing this
- to entertain search engine which do all major work based on keywords or topic of interest
- to increase varieties of single core product. this also allow cross-sell and up-sell without going after new product. This will be explained more in Product Creation Module.
- Market is where to meet up with buyer
- but where exactly the market will depend on paradigm here. For our general rule we believe in "Customer Centric", the market will be where customer congregate
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why Niche is important
- Note that we are not project ourself as powerhouse marketer or firms which possess lots of money to spend on expensive mass media. In stead we use strategy from "Guerrilla Marketing" which is take advantage of our agility to tackle niche after niche after niche by spend less effort and money.
- Again.. the key benefit of doing niche is to enable us to target on their specific need, problem and/or emotional trigger.
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Later this will become more clear when we explain how to apply niche insight to most marketing activities including
- prospecting/lead
- building and maintaining relationship/trust
- offering and repeating offer
- it is not necessary that we have to do pick only one niche because your product offer may be able to serve or solve problem for multiple niches at the same time.
- it is all depend on the resource at hand how many niches can be handled at any one time. but we do one niche at the time and once master it then move on to next one.
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1. Niche Ideation
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at this state it is brainstorming for potential Subject Area. so do not perform extensive research to rule out our options at this stage. but just keep in mind that good candidate have these signs
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lot of interests
- more traffic
- more leads
- and more prospects
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decent amount of business transaction
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usually we do not want any competition but this may sound counter-intuitive. some competition is good as it is indicators for
- some money in the market
- good amount of potential partners which allow
- affiliation product and partner
- piggy back lead (more in lead module)
- and beside you can learn from them. focus on what can be improved and compliment
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Sources for Subject Area
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from other marketer trail
- do not reinvent the wheel (unless you are really super genius geek in the block).
- the idea here is to leverage what other marketer has done research as well as market test
- good site to start will be "clickbank.com". you basically do search for product then look for sales volume and the gravity which kind of indicate the preferable score for affiliated marketer
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from consumer trail
- the idea is to look for customer activity. remember we do not do extensive research at this stage here.
- good site to start is "amazon.com". first you can look for "best seller". "Also Bought", "Similar Item" and "Review" will help you broaden or narrow down Subject or even find related one.
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from your own trail
- after all (if you follow our model), it is you to be marketed first. it is you who make or endorse an product/service offers. So it is important that you are comfortable with whatever product/service to be marketed here. So the idea is to look at who you are, do or have what is of value to buyer.
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this can be done in many ways for example
- look at your bookshelf to see what kind of book you bought the most and read often
- for me it is easy to look for my pattern as I am regular subscriber of audible.com and i can look at my electronic library to see what kind of book i bought the most
- you are lucky if all above findings topics are intersected but I wont count on it. Note that this first phase is meant to helpcome up with potential niche for you to pick. Think will be more clear after you complete the researching and testing phases. By Then it is become clear that which niche is right for you.
- as final step. now that you have candidate Subject Area's, you can derive from Subject Area to primary targeted market.
- basically you look for who will be interested or benefited from knowledge on the Subject.
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2. Research
- based on Subject Area and Targeted Markets now you can come up with 3-4 Keyword phrases. you will use these keyword phrase to do further research.
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research with google.
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(Paid) Sponsor link will obviously tell who are our competitor in this keyword phrase.
- this give us the quick sanity check if market is active and monetizable
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now we look inside each sponsoring links to learn from them
- first of all this will set a standard that everything we do we can't do worse than them
- Secondly we can look for area we can do better
- thirdly get some idea on what they have got to offer and price point
- also at this stage we got another chance to play with our keyword phase. look at their niche if it is more easy to handle or more lucrative.
- finally since you may adjust keyword phrase a bit, you may want to look at subject area and target market to make sure it is all in aligement
- Regarding Organic search result.. this i hard to say if it is organic as marketer like us also invest in SEO to get higher score hence better rank on the page. For sake of market insight, you can safely treat them the same.
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during your competitive research you will come across many good and many bad marketers. there are many kind of partnering relationship that you can make. Here are some sample
- Joint Promotion
- Joint Product Creation
- Joint List building
- Or simply Affiliated market
- note that it is possible to do similar research with other search engine or market place like amazon and eBay. Or even more in depth research with more solid quantitative number can be done with specific SEM tools. more extensive report will be part of another module.
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3. Test a Niche
- Note that testing is important in order to make sure that the earlier research reveal valid insight. One testing approach is to use information that represent customer or buyer view. So we will use site with record user interaction and user feedback to validate earlier findings and also the collect further insight which only user view can provide.
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testing with amazon
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search with keyword phrase and look for the same thing as we did from google search result
- so we should see level of competition, product offer, and price point in different format
- "Also Bought" give more inside about possible cross-sell and up-sell.
- "customers review" can tell what customer likes or don't like as well as the problem they request for help.
- "Editor Review" this is give some idea for squeeze page or sales letter.
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search google with keywords+"forum"
- look for fear concerns wants needs
- enough people discuss about the niche can imply legit interest and buy volumn
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test for affiliaties
- search google with keywords+"affiliate program"
- search in clickbank->marketplace
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4. Then Pick a Niche
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and for final business reality check, it must be possible to apply the profit model (this will be explained in more detail on separated module). Here are quick check list
- frontend
- backend
- continuety
- Extension model
- After gone through all research, test and reality check and there are still multiple choices left to choose, i suggest to put order by how fast you can take action.
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5. what's next?
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this is my suggested logical order. However if your resource allow you can run thing in parallel and done regular team alignment.
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Marketing Line
- for Medium to Large product launch you might want to consult Product-Launch-Formula module in order to reap maximum benefit and profit from your investment
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for small launch just follow simple marketing elemenet here
- Squeeze Page
- Sales Page
- Ads Banner
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Production Line
- product creation
- product fullfillment
- prepare customer support
- Back office (business support activity)