Where You Want to Go – Part 5

During the second phase, we will look at these questions in the search for defining your niche:

  1. What is your line of business?
  2. What are the key words that fit your business?
  3. Can you build partnerships with others in your niche?
  4. Is your niche specialized?
  5. How have others monetized your niche?

What Is Your Line of Business?
You need to define your business. But not only the formal business type. You also need to consider related aspects of your business. Let’s say you were building a blog on social media. You might be focusing especially on Twitter and Facebook. But what about including StumbleUpon, HubPages and article marketing to “brand” your name?

You need to clarify your niche so you know where to focus your energy. This also helps you to find e-books, software and other products you can sell on your blog. The better you know your audience, the more you can earn.

What Are the Key Words That Fit Your Business?
In a world of search engine optimization all over the internet, it is highly important that you know the key words you want to penetrate. This helps you identify competitors – and perhaps also in finding potential partners in strategic partnerships.

Can You Build Partnerships With Others in Your Niche?
This is the one part that scares a lot of people the most. “Why would I ever help my competitors?” you might be thinking. But actually you are looking at this the wrong way. When you help others (reach your audience), you also get a chance to reach their share of the market.

You can therefore add to your revenue by supplementing your own products with those from others, and you might even reach a more responsive group of people by entering a strategic partnership with someone who has a relevant audience that might even buy more than your own list does.

Is Your Niche Specialized?
You must be very clear in seeing what type of audience you are targetting. The better you understand your niche, the more effective you will be when you communicate with these people.

How Have Others Monetized Your Niche?
When you know how others have done, you might be able to choose a different strategy to increase your own sales. Those who don’t sell usually don’t push the potential, so when you are talking to your audience you might as well give them an offer they can’t refuse.

Super e-book: Losing Weight Without Starving Yourself
Priced at a mere 2$ this is an e-book you need.
It might also be useful for a friend of yours?
Check it out right here: http://www.blunck.dk/weightloss/

Leave a Response