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Want more customers? Add a new niche.

by ShannonCherry on April 23rd, 2008

Are your products or services geared towards only one target market? You can increase sales and profits by increasing your target markets. Below are some creative ways to increase your target markets by using your existing products and services you’re selling right now.niche marketing

REDESIGN
You can increase your target markets by redesigning your products and services. For example: you’re selling a book called “Internet Marketing Tips For Accountants” You could rewrite part of your book and call it “Internet Marketing Tips For Lawyers”. You’ve now increased your target markets by redesigning your book.

ADD-ON
You can increase your target markets by adding on other product or service with your main one. For example: if you’re selling a football magazine you could add a free football when someone buys a subscription. You’re now targeting people who want the football magazine and those that want to play football out in the yard. Sometimes they buy stuff just to get the freebies.

TEAM-UP
You can increase your target markets by doing a cross promotion with a similar non-competeing businesses. For example: your business sells tennis rackets and you find another business to cross promote with that sells tennis balls. You could combine your racket and their balls in one package. You are now targeting people that need tennis rackets and balls.

(photo courtesy of Shannon Cherry of Be Heard Solutions.com) 

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POSTED IN: Entrepreneurship, innovation

2 opinions for Want more customers? Add a new niche.

  • Linda P. Morton
    Apr 23, 2008 at 6:47 am

    Shannon,
    You’re idea can definitely help people to increase their sales.

    I would just add that Internet marketers need to add a separate web site or at least a separate sales page for each target market.

    They also need to do market research again because the best appeals for each target market is different. I discuss some of the ways that target markets differ on my blog under “market segments.”

  • Karl Goldfield
    Apr 23, 2008 at 7:07 pm

    Shannon,

    Great ideas and I would like to make another couple of suggestions.

    1. Go to your customers and evaluate your value proposition. Many times you find benefits that were not expected and can be utilized by other niche markets. The Moosewood cookbook was originally a hippy vegetarian rag, but by uncovering that they had a following of foodies that loved a couple special dishes, they re marketed it to the entire cooking population.

    2. Look for niche markets that parallel your core customer base. Often this will afford you an unbelievably minute amount of tweaking if any at all.

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