HOW TO IDENTIFY AND TARGET PROFITABLE NICHE MARKETS...Written by Thom Reece
© Copyright 2003-2005 Thom Reece All Rights Reserved There are two basic approaches to advertising or lead generation... shotgun approach... or rifle approach. There is only one cost efficient way... rifle approach. By carefully selecting specific niche markets, and presenting a compelling message directly to that audience, you will begin to reap real profit rewards of direct marketing. First let's define a "niche" market. I define it as: "Any homogeneous market in which members of group have similar occupational or lifestyle characteristics... those characteristics being ones which would make them an excellent prospect to develop a Seasilver business... and/or consume product. IDENTIFYING NICHE OCCUPATIONAL MARKETS FOR WELLNESS MARKETS... Some of niche markets are obvious: - Chiropractors
- Medical Doctors, Nurses
- Health Food Stores
- Fitness Centers
- Spas, Health Retreats
- Acupuncturists, Massage Therapists, etc.
- Veterinarians, Pet Clinics, Pet Shops (Yes, Seasilver works wonderfully for pets.)
- etc.
NICHE LIFESTYLE AND DEMOGRAPHIC RELATED MARKETS... - Senior citizens or "baby boomers"
- Specific Disease Sufferers... cancer, diabetes, arthritis, ADD, Lupus, etc. (Remember, we can make NO claims.)
- Pre-natal, Pregnant Women, Babies, Parenting
- Sports participants and enthusiasts
- Health & Fitness Buyers
- Etc. Etc.
HOW TO TARGET THE NICHE...Regardless of how you intend to approach niche with your marketing message... print advertising, broadcast, direct mail, e-mail marketing, etc. ... you have to identify resources that can supply targeted pathway for your message. The first place to look... and a pure qualifier for whether you have identified a real niche in first place... is to look for magazines and other print media (newsletters) that are targeted specifically to that defined market---and that can supply you with targeted mailing lists (snail mail or email) , print advertising vehicles (magazines, newsletters, newspapers, trade journals, etc.), to cost effectively reach niche. Where do you find these resources? The easiest and fastest way is to do a search at Google for terms that closely identity target audience. For purposes of example let's use occupational niche of Chiropractors: Searching Google for "chiropractic magazines" will show us a link... http://www.chiro.org/LINKS/journal.shtml ... which will in-turn identify several publications which show promise: Once you have identified several publications that serve niche market, your next step is to contact each publication and request a "full media kit" from advertising department. The publications ad department will send you a copy of publication, advertising rate card, and other marketing materials touting advantages of advertising with them. SELECTING MEDIA... Study contents of media kit carefully. Especially look at ads which could be considered competitors for your product. If you are luck enough to live near a large university or public library here is a trick used by many savvy advertisers... go library and see if there is an old copy of magazine in question. Go back at least a year or two. If you find same advertisers in old publications you can safely assume that publication is pulling a profit for their advertising. This is not fail-safe... but it is a good indicator.
| | FACTS ABOUT HE 50+ MARKET... Essential Information For Savvy Marketers...Written by Thom Reece
Today's 50-plus adults are more fit, better educated and financially secure than any previous generations of mature men and women.Finance Today's 50-plus adults account for: - More than $2 trillion in income
- Over 50% of discretionary spending power - 2.5 times average per capita
- 80% of personal wealth in financial institutions
- 50% of all discretionary income - $13,286 per household
In addition, 50-plus: Automotive - The 50-plus purchase 41% of all new cars, totaling more than $60 billion
- 50-plus adults purchase 48% of all luxury cars
Fitness & Exercise - 16 million 50-plus adults exercise at least three times per week
- Fitness activity participation is rising most rapidly among those over 45
- From 1987 to 1995,
number of 55-plus health club members jumped 119%; number of 65-plus members jumped 669% Health - 50-plus adults represent over $525 billion per year in direct healthcare spending today; this will grow to $1.1 trillion per year by 2007
- The 50-plus consume 74% of all prescription drugs, a $100 billion market
- The 55-plus spend $467 per capita on prescription drugs, more than double
average They account for 51% of all over-the-counter drug purchases Even though today's adults age 50-plus are more fit and active than any previous mature generation, there are 56 million men and women living with heart disease, 40 million with arthritis, 28 million with osteoporosis, and 14 million with diabetes. Healthcare spending for this population exceeds $525 billion a year, much of it related to chronic, rather than acute, conditions.
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