Tips for Identifying Your Target Audience

After spending months or even years, developing the right product or service, you’re finally ready to share your business with the public.

Knowing who you should market to, and the best time to market your products or service can result in higher rates of return. Here's how to get started identifying your target audience.

While it is relatively simple to create a general advertising campaign to reach the masses, spending your time and resource identifying more targeted markets can help you maximize your marketing return on investment.

Knowing who you should market to, and the best time to market your products or service can result in higher rates of return. Here’s how to get started identifying your target audience.

 

Consult Your Business Plan

When you developed your business plan, you set a number of goals for yourself. Take a look at these goals and analyze the products or services that you provide. Think about how they fulfill a need or solve a problem for your potential customers. Figuring out your unique selling point is the first step in identifying your target audience.

 

Begin Researching

Start researching your industry, the market, the competition, and the large pool of potential customers you’ve already identified. A lot of this research has already been done and can be found in existing sources.

If you can’t locate any useful secondary data that is useful, you may want to conduct primary research by sending out surveys, doing interviews, or holding focus groups to get the information you need.

Develop a Customer Profile

After you’ve completed your research, you will use the information you gathered to develop a customer profile. This will be an in-depth description of who your typical customer might be and will include things like demographics and psychographic information.

The demographic information should include age, gender, location, marital status, ethnic background, income and more. The psychographic information should include interests, values, hobbies, behaviors, attitudes, lifestyle, and more.

Find Your Audience

You can’t simply define who your target audience is, you have to find out what sites they visit and which social media platforms they use most frequently. The information you gather for your customer profile, along with knowing where they hang out online will help you determine how to deliver your message.

Your work doesn’t end once you’ve identified your target audience. You have to continue to perform research to stay current on the industry and market trends, as well as your competition.

Continued monitoring will also show you if and how your existing audience and potential customers evolve. Following these tips for identifying your target audience will help you develop a solid content marketing strategy.

Why Utilizing Content Marketing Will Benefit Your Business

Promoting your business online in today’s short attention span theater isn’t easy. Even those companies that occupy the niche market space face stiff competition.

Why Utilizing Content Marketing Will Benefit Your Business

Merely advertising or sending out promotional emails no longer cut it. If you want to stand out from the crowd, an effective content marketing strategy is a must. Developing and executing an effective content marketing campaign takes some work, but it will be well worth it with the benefits your business will gain.

 

Higher Visibility in Search Engines

Every time you add a new post to your blog, it’s another page that Google is going to index. While having more pages doesn’t necessarily correlate to more search traffic, it does give you the opportunity to rank higher for more search queries.

By targeting long-tail keywords and topics that your customers search for, you won’t have any trouble appearing in those searches with your archived information.

Higher Domain Authority

Producing more, higher-quality content will increase your perceived authority, expertise, relevance, and trust of your site. When your content gets more inbound links from external sources, your domain authority rises. A higher domain authority directly relates to higher search rankings.

Increased Conversion Potential 

The primary reason to create content is to engage, inform, help, and bring value to your audience. Once you’ve taken care of this, you can use the remaining space to pitch your products or services. When done right, this can lead to an increase in your conversion rate.

Improved Brand Recognition

The people that are reading your content are building an impression of your brand. When they are looking for helpful, informative, and enlightening information, they’ll think more highly of your brand.

They will also see you as more trustworthy and an established leader in the industry if your content shows up on external sources or the social media newsfeeds.

Decreased Marketing Costs

The only thing that content marketing will cost you is time, and it offers compounding returns on your minimal investment. You’ll start to see growth after the first couple of months, and after a few years, you could see gains that are quadrupled your initial investment.

Content marketing is safe and inexpensive and is available for anyone in any industry to utilize. The sooner you start investing your time in a solid content marketing campaign, the sooner you’ll begin to see results.

No matter what you are looking to achieve, whether its higher conversion rates, increased traffic, or a genuine relationship with your customers, there’s no reason not to include content marketing in your overall marketing strategy.

5 Ways To Discover Hot Niches

The Internet is full of blogs and websites that started out well, but over time just fizzled out. In many cases, it’s because the business owner didn’t take the time required to research their intended niche carefully to determine whether it was a paying one.

niche

They didn’t do the research on who their ideal customer would be, or determine who their main competitors would be before they jumped in completely.

These days, anyone can start an online business with just an idea, a few dollars, and a website. However, not many will be able to stay in business unless they have discovered a profitable niche that has a large paying market that will cover their expenses and time each month.

There is nothing worse than wasting your time and effort chasing a niche market that looks promising but proves to be unprofitable.

The following five steps will help you to discover whether the niche you want to work in is a paying one before you even try to register what seems like a great new domain name or launch a blog.

If you’ve been thinking about starting a new online business but have yet to do your research on the market, use the following action steps to ensure that you know your niche thoroughly, so you can avoid wasting your time and money on trying to start an online business in an unprofitable niche.

Step One: Identify Your Passions and Interests

If you haven’t already identified your interests and what you are passionate about, this is where you will want to start. Being in business for yourself is anything but easy, and at some point, you are going to be tested.

If you own a business that you don’t care about, chances that you’ll quit when the going gets tough increases substantially. This is especially true if you are a first-time business owner.

This doesn’t mean that you need to find the perfect fit. You just need to be passionate about some aspect of running the business.

By having even, a single aspect of the business that you are passionate about will increase the odds that you’ll stick with it, even when you face challenges. If you don’t care about the topic, you may not be able to sustain your motivation that is needed to persevere.

The first step you need to take is to write down ten areas that you are passionate about or that you have a topical interest in. If you are having trouble doing this, here are a few prompts to help you figure it out.

  • What do you like to do in your free time? What activities do you look forward to participating in when you’re not doing it?
  • What kinds of magazines do you subscribe to? Are there any topics that you like to learn about?
  • What clubs and organizations do you participate in?

Step Two: Identify Problems You Can Solve

Once you’ve identified ten things that you are passionate about, you can start narrowing down your options. If you want to create a profitable business, you need to find problems that your target audience is experiencing, and then take the time to determine whether you can solve them.

If you aren’t sure how to figure this part of the process out, here are several things that you can do to help you identify problems in specific niches.

  • Work with members of your target audience to get their input. Have one-on-one conversations with members of your target audience and ask specific questions that will help you to uncover specific pain points.
  • Look at online forums. Get online and look for forums that are related to the niches that you are considering. Search through the discussions that are taking place. Try to determine common questions that members are asking and trying to find out what problems they are having.
  • Conduct keyword research. Use the Google Trends and Google AdWords tools to explore a variety of different keyword combinations. Doing this can help you identify specific search terms that are related to pain points that your target audience may be experiencing.

Step Three: Research Your Competition

Having competition isn’t always a bad thing. If you find that the niche you are looking at has some competition, it may mean that you’ve found a niche that will be profitable.

However, you need to thoroughly analyze the competing sites to see if there is a place in the niche for another business. To start with, you’ll want to create a new spreadsheet and log all of the competing websites that you can find.

Next, you’ll want to analyze each site to figure out if there is still an opportunity for you to stand out from the rest of the crowd and build a profitable business. You need to determine whether or not you can still rank on Google with the keywords you’ve chosen.

Figure out if there is still a way that you can differentiate yourself from the rest of the crowd and create a unique offer. Here are several different ways that you can enter a niche market and still find success even if there are already a number of sites that are serving the market.

  • You can easily outrank your competition if their sites contain low-quality content. If other business owners aren’t creating high-quality content that serves the target audience, you still have a chance to build a successful business in that niche.
  • Many sites have a lack of transparency. Many new business owners have been able to completely disrupt entire industries by creating a transparent and authentic presence in a market where other sites are considered faceless and overly corporate.
  • If you’ve discovered a keyword that has a relatively high volume of searches, but little paid advertising or competition, there is an opportunity for a new business owner to upset the market. The lack of paid competition can create tremendous opportunity.

Step Four: Determine the Profitability of Your Niche

By now, you should have a good idea about which niche you would like to get into. While you may not have completely narrowed down your list to a single topic, you’ve likely found a couple of ideas that you feel pretty good about.

Now, you will need to try and get an idea of how much you can potentially make in the niche. A great place to start your search is Clickbank. Clickbank is a market platform for vendors to sell their digital products. It is the largest affiliate marketing network for digital products like software, eBooks, and membership sites.

You can use the site to browse the top products in your category. If you are unable to find any offers in a particular niche, it isn’t a good sign. It could be a sign that no one has been able to monetize the niche. You want to find categories that turn up a decent number of products, but not an overabundance of products.

During your research, make notes of price points, so you can know how you need to price your own products in order to stay competitive.

You’ll also want to keep in mind that you don’t necessarily have to have a product offering of your own to start your business.

You can partner with a product’s creator, advertisers, and site owners in your niche to start making commissions by selling their products while you work on your own unique solution.

Step Five: Test Your Idea

Now that you are armed with the information you need to choose a niche, the only thing left for you to do is test your idea.

One easy way to do this is to create a landing page for the pre-sales of the product you are developing. Then you can use different advertising and marketing methods to drive traffic to your landing page.

If you don’t get enough pre-sales, do become discouraged. You may still be in a viable niche, but either your message isn’t quite right, or you haven’t found the right offer.

You should begin to leverage A/B split testing, so you can optimize your conversions and determine whether or not there is anything stopping your target audience from taking action and buying your products.

Conclusion

Once you’ve determined that the niche you’ve chosen and the product your offering is viable, you’ll want to begin to develop a fully functioning website. You’ll want to include a blog on the site, so you can begin to generate more traffic and boost your revenue.

You’ll want to keep in mind that there isn’t necessarily a perfect process for finding the perfect niche. You’ll need to do your homework and continue to move forward.

If you find yourself stuck in the planning phase, you’ll never get around to starting and won’t find yourself on the path to success. As an entrepreneur, simply having a great idea isn’t enough, you have to learn how to become a good starter if you want to be successful.

3 Easy Steps for Finding Your Niche

When you start something new for business, there is a lot to take into consideration. It is essential that you look at every angle so that when you do launch your online business, it has the best opportunity to be successful. Finding your niche and getting to the point of finding the keywords for your niche isn’t all that different. Here are three easy steps you can take to find your niche.

3 Easy Steps for Finding Your Niche

Step One: Finding Your Keywords

Finding your keywords is the fun part when it comes to discovering your niche. With Google’s External Keyword Tool (https://adwords.google.com/home/tools/keyword-planner/#?modal_active=none) it’s super easy to search for niche ideas. The free tool allows you to find both local and global search volumes for particular keywords and related keywords. It also provides you with the competitiveness of the keywords as well.

You want to search for keywords that pull in at least 1,000 global searches every month. You also want to make sure that the keywords you’ve chosen aren’t overly competitive as well.

Step Two: Analyze the Competitiveness of Your Keywords

After you’ve discovered some niche market keywords that you think might be profitable and that you might want to work with, you can start checking out exactly how competitive they are. This can be accomplished by using Google’s search engine and typing your chosen keywords into the search bar. This will show you how many other pages are listed for the keyword as well as the pay-per-click (PPC) competition as well.

Step Three: Decide on Your Niche

Based on the results you get from the previous step, you can now decide on if you want to move forward with your niche idea. You want to pay special consideration to the number of PPC ad’s that come up during the search. If there seem to be a ton of competition, but minimal PPC ads, then it is safe for you to move forward with your niche idea knowing that you won’t be wasting your time or energy on a nonprofitable market.

Once you’ve decided to move forward with your niche, you’ll need to select a domain name that fits your keywords. Finding your niche is just the beginning. Once you’ve landed on the best market for your interests and passions, you’ll have to get to work creating your content, building your links and backlinks and start creating your email marketing list.