with Joey Ragona
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Lesson 3 :
The 2 Market Niche Groups
The 2 Market Niche Groups
For this quick lesson, I want to share the two types of market niches and what makes them different.
This is my personal take on it. Because I like simplicity. I’m sure you do too.
Which is the reason I split this idea of a market niche into two distinct groups.
When you can Cleary identify which group your niche is in, you can craft a clear marketing message moving forward.
I didn’t make these up. I merely group the customer levels of awareness from Eugene Schwartz to make it simpler for me and everyone I work with.
Let me show you.
Group 1: The Unaware Group
As you can tell from the group name, people in an Unaware Niche have no idea there’s a problem. And they aren’t looking to solve anything (yet).
But the problem is...
...I find a lot of marketers want to tackle the unaware market niche.
They want to educate everyone in the unaware stage become aware of a problem. Or a potential problem.
While there’s nothing wrong with educating people who fall into the unaware market, it’s challenging to bring someone up to a level of understanding so they understand their need for you and your product or service.
Let me repeat that last part. Because it’s REALLY important as a distinction between the two market niche groups.
When operating in the unaware niche you have a big undertaking to make people understand their need for you.
In other words, most of your time is spent making someone aware of a problem. And, that they need a solution for that problem (they didn’t know they had).
Only after those in the unaware market niche become aware of their problem could the sales and marketing process begin.
So yes. If you’re wondering if we can make people aware of a problem and move them toward a sale, it’s totally possible.
But I always ask my students “why do you want to put energy, time and money into convincing someone they have a problem? When you can put that same energy into a market niche that already KNOW about their problem?”
I get a lot of altruistic, big-hearted answers.
And I LOVE that humanitarian value in people.
I’m all about helping people too. We are here to make the world a better place with our products and services and I right?
What’s more is we know we can help people in the unaware stage “if they just knew…” or “if I help them see X, THEN they would purchase my stuff.”
But coincidently those same students tell me they need to make money quickly.
In my experience it takes a lot of time, money and energy to educate someone who doesn’t know they have a problem. Or worse, doesn’t care to fix it right now.
In a nutshell, you need to educate the unaware niche market about the problem, the solution, why they need you and how you can help them.
By now you might be wondering “Joey, isn’t THAT the very thing we’re supposed to do with a product launch or webinar? I thought we need to help people understand what we do so we can help them with their problems.”
Yes. It is.
Which brings me to the second niche market group….
Group 2: Aware
The 'aware' group actually has 4 different levels of awareness;
Most aware is someone who is in the ready to buy state.
I won’t get into details here about the different levels of awareness. Because it’s beyond the scope of this training.
You can learn more about the customer levels of awareness from Eugene Schwartz in his book Breakthrough Advertising.
Alternatively you can click here to download my Customer Levels of Awareness PDF cheatsheet I use with all my marketing students.
customer levels of awareness
Back to what I was saying…
The aware market niche group is the one where as a coach, expert and entrepreneur we meet the wants, needs and desires that ALREADY exist in our potential customers.
In other words, they are READY & WILLING to fix the problem they currently experience.
Depending on which level of awareness they’re at, we know AT THE VERY LEAST…they know there’s a problem.
They DO NOT need us to convince them about a problem.
Of course, our job in this market niche group is to help them understand more about what and HOW you help them fix the problem with your solution. (That’s where the education piece comes in)
With this group, every piece of marketing is to move your prospect CLOSER to buying. That's it.
You aren't marketing to "convince" someone they have a problem. Which means - they're googling or hanging out in groups and forums asking for help about a specific thing.
In my experience, it's 1000x easier to work with a market niche group screaming for a solution.
Eben Pagan hit the nail on the head when he said "look for people who are actively looking for you"
Write that one down too.
Add it to the same place you posted the “WE DON’T MARKET TO AN AVATAR - WE MARKET TO A NICHE” from lesson 1 ;-)
The bottom line is whenever I tried to teach the unaware niche market, it failed.
The moment I directed my focus to a niche market that had existing wants, needs, and desires and offered them a solution...
..the selling became effortless.
I hope that explains the two groups of market niches so you can make the best choice for you and your business going forward.