Well it’s one of the problem, Ecommerce startups usually face. Everyone is keen to earn through online selling but don’t know where & how to start. Some of them faced huge loss trying to sell online without any prior understanding of MarketPlace.
For Example : If you’re selling something like thermal Jacket or thermal socks online, your product will be most required in a place where the temperature is below normal winter conditions.
That’s called Demographic Targeted Audience or Marketplace.
MORE IDEAS FROM THEARTICLE
Nearly every market can be further refined or divided, by the particular needs and preferences of its constituents. Some of the most common ways to define a niche are based on:
* Price (e.g. luxury, moderate, discount)
* Demographics (gender, age, income level, education level)
* Level of quality (premium, handmade, economical)
* Psychographics (values, interests, attitudes)
* Geographics (residents of a certain country, city, or even neighborhood)
Choosing to focus on a niche is a strategic business decision to serve a certain customer base better than competitors who target the larger market.
Now that you know what to sell online, you need to make sure there’s an audience for it. At the start, your niche market and products are just ideas. An hypothesis of what you think will resonate with your target audience.
If you determine your niche is too small to generate reasonable interest and profit, consider pivoting to a different audience within that niche or promoting a different product based on the Marketplace.
Know your customers first : GoogleTrends rank certain keywords & contents everyday through out the year from around Worldwide. You can change in the search term to any country & search for the certain keyword to find it’s performance between certain months, weeks & days.
I searched for Thermal Jacket & it shows the result of time period it’s being searched around Worldwide, related topics & Queries. Do try & search for your product. You will get an understanding where your customers truly are.
A Niche is a concept or idea intended for specific appeal to the marketplace. You could choose anything as a marketplace to sell your Niche or sell through your Niche.
For example: within the market for women’s shoes are many different segments or niches. Shoes for vegan women would be a niche market, as would shoes for plus-sized women, shoes for nurses, and shoes for transgendered people. These are all niche markets within the larger market for women’s shoes.
Test Before Opening a Ecommerce Store: Start with a small batch of products and run a campaign to your targeted audience. Solicit feedback from customers who’ve made the first purchases or send a few out to influencers and ask them what they think. It’s important to get feedback early on, especially if you’re targetting a new market, so you can perfect it before it goes out to the marketplace.
Research deeper into your niche: You already did the keyword research to identify your niche market, but you can go even more in-depth. Analyze blogs, social media, influencers, and other key areas
Research consumer trends in your market: It’s important to be up-to-date with what’s happening in your chosen niche.
Resources like Facebook IQ, Think with Google and Nielsen consumer research will help you understand consumer pain points, desires, and breakout trends.
Set up Google Alerts for related keywords and regularly monitor social media conversations to stay on top of what’s trending.
Dynamic keyword insertion is a paid ad feature that uses machine learning or AI to customize online ads to match users’ search queries.
KI works by using machine learning or AI to insert terms that match users’ search queries to deliver more relevant ads. This allows businesses to deliver highly relevant ads without spending hours creating different ads for each possible search query.
Dynamic ads can change nearly every aspect of your ads, including the main keyword, images, CTA button, and even the landing page users are sent to.
You need to adapt your marketing strategy to complement the way today's consumers research, shop, & buy to sell your service. To do that, you must have a deep understanding of who your buyers are, your specific market, and what influences the purchase decisions and behavior of your target audience members.
Market research is the process of gathering information about your business's buyers personas, target audience, and customers to determine how viable and successful your product or service would be, and/or is, among these people.
The basic definition of market segmentation is when your target audience is divided into smaller categories that share similar characteristics.
Here are a few reasons why this can benefit your brand:
With market segmentation, you will gain greater insight into consumer behaviors.
❤️ Brainstash Inc.