If you happen to know a niche market that appeals to a large audience of people, then you might want to consider setting up a private online community. This private site could include services such as:
- A place where members can gather resources on a specific niche as well as articles.
- A personal forum or chat area where members could speak on topics to gather further insight into the market
- links to other relevant and informative sites that provide additional information
- most recent news on the market with account based marketing is an effective way that you can use for identifying your target audience. After identifying your target audience for your product you can start with your marketing strategy accordingly.
This list can include anything that might be of interest to your target audience.
Let’s say for example you create a website for police officers and charge a yearly fee of $59.95 to gain access to the online community where they can chat with like-minded police officers from around the nation, share important police tips, and exchange information. Of course, this site could provide much more as this is up to your discretion and to your target audience.
You could also have the leaders and organizations provide advice to your members or have them write an exclusive column in your forum in exchange for let’s say advertising. With this new group of people, you could even e-mail your members the occasional special product or service offer that relates directly to their needs or special interests.
Depending on your specific niche, you might even include a store where members can purchase products such as books, tools, and other resources specific to the market. As with all things that are worth having, setting up a membership forum can be quite labor intensive however the multi-angle approach to your potential income stream is enormous and well worth the work.
The services provided by having a member’s only site allow you to profit from the information provided over and over again. This means that once the information is then gathered and put together it remains a priceless commodity and the good thing about it is you only had to create it once. You’re also able to satisfy your customer’s needs because once they sign up they are able to obtain the information instantly which allows you to capture customers that are impulsive and change their minds if they don’t get what they want right away.
Whether you are developing your first business online or simply analyzing the existing one, your chief focus should always be on how you’re going to create multiple streams of income. A paid member site provides this perfect opportunity to make successful to profit from:
- selling your own product or service
- recommending other products of similar nature
- paid subscriptions
Setting up a paid subscription site might be a lot of work, but with careful planning and proper niche research, this could be a business that pays off for years to come.