OK, so once you know about your broad market, it's time to narrow in and select your target niche. Perhaps your marketing project is about 'how to achieve an efficient healthy balance between work, rest, and play - for more advanced personal development people who are fed up with ALL the redundant fluff that gets regurgitated throughout the mamby pamby self-help industry (and that never worked anyway)'.
Now that's what I call a specific target niche
And one that I am becoming quite familar with at the time of this writing as I have a marketing project of my own design in this niche market area.
So what can you find out about your target niche?
Where do people in this niche tend to linger around?
- forums,
- discussion groups, etc.
How much money can you determine is spent in this niche annually?
(might wanna google it)
In terms of demographics, what are the major changes happening in this niche market at present? What is on the horizon?
In terms of psychographics, what are the biggest challenges that people in this niche face… both generally, and at the present time?
What are the biggest news and information sources for this particular niche?
Believe me, you'll be suprised at the marketing power that results from taking the time to answer these important questions.
[SIDE NOTE: I used to think it was important to do keyword research at this point in the process, however, I now I believe the process of researching keywords & competitors is major part of a higher level marketing function, which we'll learn about over the course of the next few weeks; so make sure you don't miss that.]
Next we'll move into Product Research.