how to market your niche product: 5 things you must do
TRANSCRIPT
5 Things You Must DoWhen Targetting a Niche Market
Featuring 'Juno Power'Learn how they reached a monthly revenue of $100,000 within months!
Johnson Jeng, CEO of Juno Power, knows a thing or two abouthow to succeed in a niche marketing.
He shared with us the best practices his team followed to reacha monthly revenue of $100,000 within months!
About Juno Power: It's an electronics company that designs andmanufactures external battery chargers for iPhone, Android, tablets, andlaptops. It's fastgrowing eCommerce business with global reach
It's a small but profitable segment of a market suitable forfocused attention.
What's a Niche Market?
1.Juno Power had experienced a few failed product launches before.The product(s) they launched were in a saturated category. Theircompetitors had enough money power to market better.That's when the idea of manufacturing a portable battery which canjump start a car!
Identify your niche and build a product that stands out in acrowded market
A fabulous PR agency launched paid press releases at a global scale. The news was splashed across all major technical news mediums like CNET (click here to read) and Gadget.
The products were sold out in 15 hours!
Bottom Line:- Create a product that stands out in a crowded market & serves the need of a segment
- Work with an efficient PR company when launching products
2. Pull Out All Stops to Build The Brand
Stop at nothing to do effective long-term branding of the right product.
Even if that means cutting down on sales of other product lines or losing a little money or deviating from the original vision you had for the company.
“A powerfully branded product is like a blockbuster movie with a great star cast.” says Johnson.
3. Show Your Customer How Much You Care
Focus on providing a delightful buying experience to all of your customers.
Johnson shared how he talks to customers even on a weekend to address their concerns.
It’s important that lots of camaraderie is going around and everyone in the team believes in extraordinary product delivery and customer service.
Bottomline: - Delighted customers become your indirect sales-force. Checkout how customers go to length to even make review videos for Juno Power
4. Stay Ahead Of The Pack
Identify a trend before it arrives; even if the current campaign or product is working like a charm.
Follow the giants in your industry and watch out for the emerging trends.
Time the launch of your niche product to sync with the mega launches from industry giants.
Within days of the launch of iPhone 6, Juno Power launched their line ofhigh quality iPhone cables.These were sturdy Apple certified cloth braided iPhone cables that didn’trip like the regular ones.
Bottomline:- Innovate on the product line a bit and ride on the upcomingtrends in your industry.
5. Adopt A Dynamic Business Model
Learn to adapt and innovate your product line.
Pull your business partners in alignment to any new plan
Let's Sum it Up
Identify and define your niche.
Package it colorfully & present it to the customer beautifully.
Make sure nobody does it like you do.
Offer variety.
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