Creating Your Niche In The World
by William "Wild Bill" Montgomery
Know what business you are in and what product you sell. To have an edge over your competitors you must know your market, who's going to buy your product and the strategy you will use to get them to do so.
This will be your Niche In The World.
How to develop your niche may largely depend on the niche you have already created, knowingly or unknowingly.
Creating, Developing and Nurturing your Niche can be the difference between failure and success. Your Niche can make you stand head and shoulders above your competition. It can give you the ability to corner your own little piece of the consumer world.
Get a "Unique" Niche! Your Niche should allow your prospective client or customer to visualize that they are receiving something special, something only you can give them in a way that no one else can.
How do you make your Niche stand out above the rest?
Major Market Niches: Service, Quality and Guarantee. These are 3 words to always remember:
... To have an edge over your competitors you must know your market, who's going to buy your product and the strategy you will use to get them to do so.
- SERVICE: Consumers, no matter what kind, expect and demand to be pampered and waited on. Pay attention to their wants and needs, and fulfil them to the best of your abilities short of effecting your efficiency to serve others or your "Bottom Line".
- QUALITY: Poor quality is going to get you two things: Complaints and no repeat customers. If you expect to spend any time in business, do yourself a favour; Don't lie to, steal from or cheat your customers. Provide them with truthful information, honesty & integrity and the best product you can provide for the price that you set without effecting your bottom line profit margin.
- GUARANTEE: In today's world of the "fast buck" rip-off artist, especially on the internet, people are hesitant to buy anything without a guarantee. If you want to make sales, make a guarantee, but don't over do it. Don't make such a ridiculous guarantee, that can't be believed or will cost you so much that your profit margin takes a nose dive.
When deciding what your Niche will be, first decide how it will attract and benefit your customers, and how you will divert them from patronizing your competitor for first time or repeated sales. For example, your Niche may also be providing more information and services in your area than anyone else in the market.
In closing, no matter what your Niche, you will always find someone else in the same market. Always study your competitors. Approach them (their site) as you would if you were really a prospective customer looking for their product. Would you be more likely to buy from them or from you. Why? Why Not? These are points that you should be constantly examining, researching and striving to make better.
William "Wild Bill" Montgomery
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