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In this issue:
• Marketing Article: Narrow Your Niche: Six Ways to Define Your Target Audience
• Marketing Article: Three Techniques for Generating Publicity for Your Business

Narrow Your Niche: Six Ways to Define Your Target Audience
by Susan Friedmann © 2007

One of the most important things any Nichepreneur can do is define their target audience. Ask yourself: Who is my ideal customer? If your answer is "Everyone", you've got some work to do!

While it would be nice if every single person in the world wanted your products and services, the truth is that by trying to appeal to everyone, you often wind up appealing to no one. Increase your chances for success by narrowing your target audience: selecting a crowd of likely customers and concentrating on meeting their wants and needs.

You might immediately know who your ideal customer is. Great! Having a clear concept of your target audience is a great first step. However, if you don't have a target audience in mind, it's never too soon to start looking.

Not sure where to look? Don't worry. Here are six strategies you can use to define your target audience. Use these options as starting points: each one can be further refined to meet your needs. Keep narrowing your niche until you find the one that's right for you!

Look Younger:
Children, especially teenagers and those just about to enter their teen years (known as 'tweens'), are big business. Direct spending by teenagers accounts for over $150 billion annually, with tweens hot on their tails. Brand loyalties developed during these critical years tend to endure for a lifetime.

Look Older:
The arrival of the Baby Boomers may have been yesterday's news stories, but it's today's reality. Those in or about to enter retirement have arrived at this stage in life well-financed -- and ready to spend. They're also well-trained, if demanding, consumers: they know that there's a product or service out there designed specifically for them, and they intend to find it.

Explore a Common Passion:
Consider your own personal passions. Is there a target audience for your products and services among people who share one or more of those passions? Could you offer financial advice to NASCAR fans who want to get on the fast track to retirement? Is there people in your quilting circle who might need small business advice? Shared passions can create a bond and trust that extends into other areas of life -- great news for your business.

Religious Affiliations:
Religious affiliation is certainly not a new way to niche, but it's a powerful one. In fact, understanding the wants and needs of a particular religious community is a great way to target your products and services. For example, clothing designers and wedding planners who cater to the Latter Day Saint community in the Midwest enjoy their success because they understand the modesty requirements of that group and offer products and services accordingly.

Ethnic Groups:
Ethnic groups make up some of the largest niches going. In fact, I hate to include this as a niche strategy, but will do so with the caveat that you'll have to refine your niche further. Targeting your services to the Hispanic market, for example, does offer you some of the advantages that being a Nichepreneur brings. However, because these groups are so large, and growing so fast, it would be a good idea to further refine your identity.

Economic Class:
Every market segment has a high end and a low end -- consumers who can afford to pay top dollar and others who are far more price conscious. There's money to be made at either end of the spectrum, but you need to position yourself carefully. Do your market research to identify where the most lucrative opportunities lie.

Finally, don't forget the GEL formula. As you narrow your niche, searching for your ideal target audience, keep the following in mind. Your niche should be Growing, in an area you have some Experience in, that you Love. If you're niching yourself by the age of your target audience, you have nothing to fear: people continue aging at a fairly steady rate, and birth rates in most of the world have been steady or climbing for decades.

However, population changes and socio-economic shifts mean that niching by religion, ethnic group or even economic class can prove problematical. Do your market research to make sure the group you're targeting is going to be around for a while: you don't want to be the only florist specializing in traditional Chinese weddings when there aren't any Chinese families in a hundred mile radius.

Good luck! Remember, your niche is out there, just waiting for you to find it!

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Written by Susan A. Friedmann,CSP, TheNichePreneur Coach, Lake Placid, NY, internationally recognized expert working with service professionals to increase their niche marketing potential. Author: "Riches in Niches: How to Make it BIG in a small Market" (May 2007) and "Meeting & Event Planning for Dummies." http://www.richesinniches.com

Three Techniques for Generating Publicity for Your Business
by Mary Gormandy White © 2007

When your goal is to grow your business, one of the most important things you can do is spend time learning how to generate publicity for your organization. The key to getting publicity for your company is to develop and implement a sound public relations plan that focuses on activities designed to attract positive media attention to the activities of your business.

Three of the best techniques for generating publicity include:

1. Special Events
Hosting a special event is a great way to generate publicity for your company. There are many ways to generate free publicity for events that are open to the public. Many websites and newspapers have special sections dedicated to community events, and you can submit information about any events that you have scheduled for publication consideration.

For example, if you are opening a new location, you might want to consider holding a ribbon cutting ceremony. Even if you aren’t moving, you can schedule an open house event. While the news media aren’t likely to attend the actual event, any pre-event publicity that you generate can boost your business, and you will enjoy the added benefit of giving customers and prospective customers a good excuse to visit your business.

2. Public Speaking Engagements
Most civic and professional organizations schedule speakers for their weekly or monthly meetings. Come up with an idea for an interesting topic that is related to your business offer to speak to local organizations such as Kiwanis, Rotary, the American Business Women’s Association, and others.

The speaking engagement itself will give you an opportunity to make contacts and let a new group of people know about your company. You are also likely to find your name in print before the meeting, as most organizations distribute news releases announcing upcoming speakers to the local media and in print speaker bios in their own newsletters.

3. Cause Marketing
Pick your favorite non-profit organization and do something that benefits the charity. By aligning with a non-profit, you are able to do something for the good of the community. This positions you as a good corporate citizen in your area, which can have a positive impact on your image.

The news media in most communities tend to look very favorably upon activities that benefit charitable organizations. When you engage in promotional activities that directly benefit well-known, reputable nonprofit organizations, you may receive positive press as a result of your efforts.

By no means are these the only ways of generating publicity for your company. There are many different ways to generate publicity for all types of businesses. The first step in creating the perfect public relations plan for your company is to learn everything that you can about different means of garnering positive press for your company.

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Mary Gormandy White is Director of Continuing Education and Corporate Training at Mobile Technical Institute http://www.mobiletechwebsite.com. She teaches seminars, classes, and makes conference presentations on public relations, management, customer service, and communication topics. Visit Mary’s blog (http://www.dailycareerconnection.com) regularly for useful professional development tips and career advice.