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KNOW YOUR MARKET NICHE
copyright (c) Pavel Lenshin Imagine a bookshop selling dental instruments or law agency offering tourist trips instead of legal services. It may be fun to imagine and seems unreal. What is the reason to take a name of an absolutely unrelated field of activity if you get nothing, but customer confuse? On the other hand, for some strange reason the example above "wrapped" into advertising "paper" perceived as a normal and rational way of marketing practice. We get numerous totally unrelated to our scope of activity advertisements through ezine or magazines we are subscribed to. SPAM is, by the way, another example of selling dental instruments in a bookshop. There is standard ratio adopted in the online business community as a tool for quality evaluation of customer response, it is called "conversion ratio". It describes what percentage of web-site's visitors commit the needed action whether it is a sale, subscription, signup for an affiliate program or other. Tracking this ratio can be a valuable asset in estimating marketing activity, promotional measures, development of product etc. All these factors influence this ratio as well and may easily "say" what is good for customer and what is bad. Every business online strives to achieve higher "conversion rate" for one simple reason - that would mean increase in sales, subscriptions, affiliate signups or other. One of the easiest and usually fallacious way of raising your business "conversion rate" is narrowing your marketing focus or selecting more targeted niche-market inside the one you are working at. This way doesn't demand spending money or time for inventing more powerful marketing schemes or improving your product. Instead, direct your marketing campaign to more targeted and more interested in your offer groups of people. The fact about their higher interest in your offer will by itself increase response rate at your site without any additional measures. It is so easy to sell a glass of cold water to strangers in desert rather than to people at North Pole. Second stage of your customer-targeting attitude may lie in creation of more addressed promotional materials. Materials that are capable to "speak" with your potential customer as closest friends, who know all the fears and hopes your customer feels. This way your visitor, listener or reader will feel more involved, interested and more likely to "follow your way". Your targeted customer market may be further diversified by age, interests or financial capacity, so you can prepare even more targeted materials addressed to this particular group of people for the short time of your direct advertisement campaign. In order to prepare such addressed marketing campaign you need to evaluate fears and hopes together with what your potential customers already know, what they are looking for and what they expect from the product you are offering. As a result of such research you should have more targeted sales/promotion materials and niche-oriented sales copies. It may even be a good move to create several versions of sales copy for different groups of people, changing them depending on what niche you are currently advertising in. Pavel Lenshin is the devoted Internet entrepreneur, web-developer and marketer, founder of the entrepreneurship portal, where you can find discounted Internet services, FREE ebooks http://ASBONE.com/ebooks/, FREE reports http://ASBONE.com/reports/, and finally uncover innovative business strategies through FREE "NET Business Magazine".
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