In this episode, I take questions from Teas.com.au, Brannd Hub and PowerWells.org
We discuss:
* finding your niche market
* How you need to own a niche before you expand
* Tribes and how to use them to expand
* Great domain names and the ‘radio test’
* promoting a service-based business
* Crowdfunding marketing
Thanks to Teas.com.au , Brand Hub , and PowerWells for being on episode one.
If you have a question you’d like answered on the show please leave a comment on Linkedin here
Want your question answered in the next episode? Just leave your question here
Here is a transcription of this episode: (there will be mistakes in this transcript so please just use this as a guide)
Hello and welcome to the Fractal Marketing Broadcast. I’m Gerard Doyle. Each week, I explore online marketing objectives and strategies from you, the listener. Sharing the advice on this broadcast for everyone to learn from. The goal of this broadcast is to keep startup founders and entrepreneurs, teach them marketing tips, tricks and best practices that they can apply to their business. Welcome to episode one. On today’s episode, we look at the niche marketing selection for teas.com.au. Help brand hub with their web presence, and I will share how I promoted the ground founding campaign for power wells. So let’s jump straight into the episode. So the first question we have is from Celina who runs teas.com.au, and that’s T-E-A-S.com.au, who asked the question with a rather low population density, yet first world GDP in Australia, how does someone choose a niche? Her niche is too niche. Is there a golden figure or a clever way to say, “Yup, this is a mature market for X or no, its way to small, thanks a lot.” Thanks for the question. First things first, just as I stumble over the word niche right at the beginning of my podcast. Franny Wayne is listening in the US, there would be a niche. It’s probably a little bug there for most Australians and Brits. That there’s a different way to pronounce that word, but in Australia we say niche. Look, great question. I think the first thing I want to say is just a lot of good domain name. Not directly related to your question, but teas.com.au, as somebody who’s worked in the domain industry for a while, one of the things I love is a domain that’s just easier to say, easier to spell and the kind of to quote the wrong sort of brand campaign, it does what it says on the tin. So good work on that one. To get more into your question, is there an easier way? Look, I guess I can give you a roundabout answer and that’s to say for me, the trick with niches is actually to go as niche as you can at the start. I think one of the traps we get into with business is we try to go too broad. And I guess that goes to the second part of the question which is have you gone too niche. I guess it depends on the way you’re looking at it. If one part of your question is the market big enough to justify, that’s a bit different to are we going to a niche. In my mind, one of the key things to do when you’re starting a business or running a business is to go as niche as you can at the start. So what that means is, you’re better off winning over a really small audience and turning them into an absolute evangelist for your brand. So what I mean by that is, it’s really hard to be everything to everyone. So, obviously, [inaudible] with so many tea drinkers, but even tea drinkers are a really broad set. So I think the trick is to get that niche as tight as you can and to play around with that. So, obviously,