When you're building an online business, you will most likely be advised to find a hungry niche: a target market consisting of prospects who are able and willing buy what you offer.
Most marketers soon realize that customers buy what they want, not what they need.
They will often find a way to buy if their desire is strong enough.
Internet marketers often find it helpful to identify two types of a hungry market: the cookbook and the tire store.
One market always wants "just one more" and the other wants "just one - right now.
" It is important to understand the difference because each market calls for a distinct strategy.
Even more important, if your offering falls between these categories, you may have a hard time generating online revenue.
The Cookbook Market Remember the potato chip commercials that teased us about eating just one - and stopping? This business model targets customers who will always want "just one more.
" People who are "foodies" rarely own just one cookbook.
They have dozens and they're always buying more.
They have separate cookbooks for meat, vegetables, pasta, dessert, and holidays.
Cooks also buy tools, supplies and gadgets for their kitchens.
Therefore, they can be a truly lucrative market.
Once a cookbook collector buys, you can follow up with autoresponders.
Most likely you will sell even more to the same person.
Cookbook businesses include quilting, knitting, teddy bears, golf and dog accessories.
Did you ever meet a dog with just one toy? My first dog never played with toys, so I had zero.
Now my dog has a dozen toys and four dog beds.
Don't overlook business collectors.
Internet marketers are always buying just one more Report on building lists, traffic or websites.
To reach the cookbook market, you often need to establish a relationship.
You might offer a free eBook or ecourse.
You might publish an ezine to build long-term bonds.
The Tire Store When was the last time you visited a tire store? Most likely you didn't go for a drive and decide to stop by a tire store "just to look.
" You probably visited a tire store because you had a flat tire or a slow leak that couldn't be repaired.
Your business resembles a tire store when customers want to buy from you immediately.
Up to a certain point, they are less concerned with price than with getting solutions to painful problems.
Examples include business owners who are losing money, people with embarrassing but not life-threatening health problems, and people whose dog is chewing up the house.
The tire store market doesn't need an introductory freebie.
They probably won't develop a relationship with you They want to buy a solution and move on, as fast as possible.