Hi Everyone,
I read an article by Dave Hardin on Chris Farrell's membership site that is so good I wanted to share it with you. He said we could "steal" it, so here it is!
Micro-niches… Compete Small, Earn Large!
by' Mr Write' Dave Hardin
Micro-niches… Compete Small, Earn Large!
I would love to take full credit for the information I am about to share with you, but I can't. I learned this from Mike Filsaime who admits getting it from Eben Pagan who may have learned it from Russell Brunson who possibly picked it up from Mark Joyner who…
I'm sure you get the idea. Whoever had this thought first, my hat is off to you!
The thought is this -- it is much easier and can be much more profitable to compete in a small niche than in a huge market.
Out there in "real life" this is usually not the case, but doing business on-line is a "horse of a different color" and one that is easier for a newcomer to ride.
Consider this -- If you want to enter into the highly profitable "Sporting Goods" market, you better have the mega-bucks required to open a Bass Pro, or a Cabela's or you can choose to specialize.
Why would you intentionally give up the lion's share of such a lucrative market and settle for a much smaller piece of the pie? Because, people who shop for sporting goods are usually just interested in the products.
The customers you really want are those who have an emotional involvement in your area of expertise. Percentage-wise, these will be your very best customers.
Who has an emotional involvement in sporting goods?
Here is one example -- left-handed people. In a right-handed world, southpaws are always interested in products designed with them in mind.
Did you know that scissors don't work right for lefties?
How about baseball gloves, fishing reels and bowling balls? Even left=handed footed) bowling shoes are different!
Statistics show that 90 to 93% of all people are right-handed. That leaves 7 to 10% of the WORLD who will have an emotional involvement in your products. As I am writing this 314,000 people are looking for left-handed scissors. You do the math!
Emotional involvement runs much deeper in some niches that in others. Sporting goods is actually a bad example.
Let's look at knitting and crocheting.
852,000 people want to learn to knit with one hand and an additional 346,000 people are searching for information that will allow them to crochet one-handed.
Most of these are people who have lost a limb, or the use of a limb to accident, or stroke. Do you think they have an emotional involvement in the subject?
Let's see... that is 1,198,000 people.
If you capture 1% of that market with a $10 product, or report, you will earn $119,800 and your customers will be extremely grateful.
Not a bad day's work. Now, offer them a $20 product and take the rest of the year off!
Get the picture?
Look for areas of potential emotional involvement in your niche and focus on these micro-niches.
Your customers will thank you and will likely be repeat customers when you offer them something else that is tailored to their needs.
You can check out the membership site here:
It's an awesome site!
Marilyn
theonlinepastor, marketer, and teacher
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