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Your Questions About New Market Niches

Richard asks…

Local Marketing, non-etailer, ideas for expanding business?

I am starting a Hi Def tvs and accessories business. We have had a local photo store for years, now we’re getting into the HD market. Our niche: internet prices, savvy consulting, delivery, setup, installtion all at lowest prices.
We are already using craigslist. What about cost/benefit of: local radio ads?, promotions through other local retailers- and which kind?, mailings?, we do have a limited website currently, but we sell local only- so how to SEO for that?
We are also Ebay powersellers/drop-off site and use Constant Contact to email blast our existing local customers with deals.
Other ideas on product line and pricing would be helpful.

Thanks in advance.

New Niche Finder answers:

Hi Cliffrock
Websites can still be be very powerful tools for local businesses selling hard goods and/or consulting . . . BUT . . .it has to be done RIGHT.

Most local biz websites die deaths of quiet, no-traffic desperation. I have used a product called Site Build It to build a web site that WORKS… One that delivers 100 times the benefits of a Yellow Pages ad, at one tenth of the cost.

Don’t pay out a fortune on search engine optimization to so-called SEO experts – they try to “trick” or “outsmart” the engines by second guessing very sophisticated and constantly evolving search algorithms. The link below to Site Build It explains how building an honest website will grow your business and win the SEO traffic wars every time.

Good luck, Sarah

Lisa asks…

What aspect of market opening allowed international supermarkets like Carrefour to enter Turkey?

I know that Turkey experienced financial liberalization/market opening during the 1980s and 1990s, but I’d like to know specifically what aspect of market opening would allow an international supermarket like Carrefour to establish itself in the country, where supposedly there were only local markets previously (or maybe I’m wrong about that). I also assume this would not just apply to Turkey but other developing countries that experienced financial liberalization during that time period.

New Niche Finder answers:

1.Political situation in the host county is the most important. Big international trading house will bring new technology and efficiency. But it will kill mom and pop stores. People will protest and can bring negative effects. Carrefour has intensively expanded to Asia since the 2000s. But political situation in the host countries such as China, Malaysia, Thailand caused it to pull out and sold all property to local investors.
2. The niche. The most important business is to bring cheap goods from China and sell under its name. That will kill domestic producers. In many countries which have bilateral trade agreements with China, the government has been forced to change it. That can affect the profit niche of such a trading house handsomely.

Jenny asks…

What are the pros and cons of targeting multiple market segments for a hotel?

A hotel serves 3 market segments: individual travelers, corporate travelers, and tour operators. What are the pros and cons of seeking to serve customers from multiple segments?

New Niche Finder answers:

You lose ‘Focus’ !. Thats the fundamental problem. All markets are getting verticalized. Ie., segmented into various niches and companies focus on individual segments to understand and market to them better.

If you have the necessary resources, you CAN devise appropriate strategies for all the 3 segments. If not, research and pick the most lucrative one and focus your time, energy, money there. You will get good results, establish yourself and then subsequently look for other markets !

If I were you, I’ll pick corporate travelers and do further study !

Joseph asks…

How would you market a class teaching selling on eBay?

I’m wondering if anyone has any unique insight on how to advertise a class I’m teaching – The Basics of Selling on eBay-?
I’m an eBay education specialist and am looking for low cost/creative ways to market my class. I’ve got one month and am looking to get 25 attendees. So far only one person has signed up.

New Niche Finder answers:

Steve,

If your planing on asking a fee to take your class than you will have to gear your eBay class towards a niche market that is not being tapped into, such as the senior citizens market. More and more seniors are getting onto the net everyday and senior citizens have tons of stuff laying around their house that could be sold on eBay, so you could market your class on teaching seniors how to clean out the junk in their house for cash on eBay. Now the key to success with this idea is how your going to advertiser you eBay class to seniors, well one way is to pass out flyer’s on bingo nights at churches as many seniors like to play bingo.

I hope this helps!

Marty

Chris asks…

How can I market my new online website with limited resources?

I’m starting an online social networking website business, but I have very limited resources. How can I market or advertise my site to as many people as possible with very little or no money? How did other companies such as myspace, friendster or facebook do it?

New Niche Finder answers:

With a social networking site, you need to employ all viral marketing tactics — so a user recommends your site to a friend who in turns recommend your site to their friends and so on and so forth. Read Seth Godin’s Unleashing Your Idea Virus http://www.amazon.com/gp/explorer/0786887176/2/ref=pd_lpo_ase/102-9670089-5270519?

Getting traffic is a combination of a lot of things. The key to success is to create great content that visitors want to use, search engines will love and other websites will naturally link to. Of course, it’s easier said than done.

“If you build it, they will come” is not necessarily true on the Web. Putting a website up is one thing, but getting visitors to come to your site is another. The process becomes even more difficult if you have limited resources to market your business.

You can use pay per click advertising in the search engines to reach audiences looking for your products. You can use Google Adwords http://www.google.com/adwords or Yahoo http://searchmarketing.yahoo.com

Here are some shoestring marketing ideas that can help you get the visitors you need at the least cost possible:

1. Create the best content you can with the best products you can possibly offer. Your content is your best advertisement – if visitors love your content, then they will go back and spread the word to others.

2. Make it easy for users to recommend your site. Viral marketing is very important — and easy to tap on the Web. But give your users the tools. Get a Recommend this Site script from websites such as cgiscripts.com and similar directories of scripts. Some even go as far as giving incentives to those who recommend the site to their friends. If only 10 people go to your site, but these 10 people invite 10 more – that’s additional traffic that you get for FREE!

Recommend Site Scripts (various) http://php.resourceindex.com/Complete_Scripts/Website_Promotion/Recommend_Site/
Big Nose Bird Recommend this Site http://bignosebird.com/carchive/birdcast.shtml
CGI Resource Index http://cgi.resourceindex.com/Programs_and_Scripts/Perl/Website_Promotion/Recommend_Site/
Hostscripts http://www.hotscripts.com/PHP/Scripts_and_Programs/Site_Recommendation/index.html

3. Rank well in the search engines (organic search results, not the pay per click). SEs can be a big source of traffic. The key is to create the best content in your niche. If you have good content, other websites will gladly link to you and offer your site as a resource to their audience. Check the on-page factors and be sure to get linked from authority sites in your topic area.

If you are going to read only one piece on search engine optimization, I suggest you read Brett Tabke of WebmasterWorld.com’s “Successful Site in 12 Months with Google Alone: 26 steps to 15k a day.” http://www.webmasterworld.com/forum3/2010.htm

Other resources that can help you get top ranking in the search engines are:

Google Press Releases http://googlepress.blogspot.com/
Matt Cutts Blog http://www.mattcutts.com/blog/ (Matt is a Google software engineer)
Digitalpoint Yahoo Forums http://forums.digitalpoint.com/forumdisplay.php?f=6
SearchEngineWatch’s MSN Forums http://forums.searchenginewatch.com/forumdisplay.php?f=8

As for tools to help you get top rankings in the search engine, here are some of the best in the field today

Total Optimizer Pro http://www.totaloptimizer.com/
Keyword density tool http://googlerankings.com/ultimate_seo_tool.php
Google Sitemaps (to help Google index your pages faster) https://www.google.com/webmasters/sitemaps/siteoverview?hl=en
SEO Book – lots of free great SEO tools http://tools.seobook.com/

4. Send out press releases. While outfits charge as much as $650 per release, there are free press release submission places on the Web. Press releases allow you to (a) attract media attention; (b) get more back links to your website without sending each website an email request; and (c) get more visibility especially if your press release gets in Google News or Yahoo News.

Http://www.prleap.com/sign_up.html
http://i-newswire.com/
http://www.24-7pressrelease.com/
http://www.pressbox.co.uk/cgi-bin/links/add.cgi
http://www.pr.com/press-releases
http://www.prfree.com/
http://www.clickpress.com/releases/index.shtml
http://www.theopenpress.com/
http://www.przoom.com/
http://www.prweb.com
http://www.newswiretoday.com/
http://www.free-press-release.com/

5. Submit articles. Write articles and submit them to websites accepting author submissions. You get exposure for your business; establishes you as an authority in your field, and allows you to get backlinks for your website. If 50 websites publish your article and it contains a link back to your website, then you easily get 50 links from a single article. The more links you have, the greater your chances for increasing your search engine rankings.

Here is a comprehensive list of where to submit your articles http://answers.yahoo.com/question/;_ylt=AhzreGmnCUicOoyedqypscUjzKIX?qid=1006022407481

6. Post a link to your site for free where it is allowed (always read the Terms of Use). Examples are:

Craigslist http://www.craigslist.com
Google Base http://base.google.com
Classifieds for Free http://www.classifiedsforfree.com/…
Text Link Exchange http://www.txtswap.com/
Recycler.com http://www.recycler.com/
Yahoo Classifieds http://classifieds.yahoo.com/
US Free Ads http://www.usfreeads.com/

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