How to Grow your Business – Part 2: Niche Markets
Whether you are setting up a new business or simply wanting to increase sales, it is crucial to focus on creating a niche market.
This will reward your initiative and enterprise with more hits to your website and subsequently, more business.
In order to do this, you must decide exactly which areas to focus on. As a corporate writer and editor I am already fairly specialised.
However, by drilling down and finely tuning what I can offer prospective clients, I can become even more specialised.
There are three primary factors to consider when you’re looking for the best ways to monetize a website or blog:
- The focus of the site (your niche)
- How much that audience spends on products or services related to your site’s special focus.
- The size of your audience
For example, writing a biography about someone who is willing to pay for the privilege can be quite lucrative.
I recently wrote a comprehensive family biography focusing on my parents’ lives and although it was obviously unpaid, it provided me with a platform to work with for future projects that could earn significant income.
The biography is available to download for free at Smashwords by searching for it under the title: ‘The Journeys of Joyce and Peter’.
I am sure there are many people out there with amazing histories who would be more than happy to pay a writer to put together a well-written and researched biography about either themselves, or their family.
Other niche markets might include writing about various specialty areas that are of particular interest and selling these stories to magazines, newspapers or online. Such areas may include sport, entertainment, science, education, health, finance, restaurants or motoring.
This is the second in an irregular series of blogs produced by Mike Peeters – CEO of Mike Peeters Media