How to Find Hungry A Market
by Joe Heller
The most important skill you can have as an entrepreneur is to know where to find a hungry market that craves your product. Knowing how to find a “hungry market” is the single most valuable skill you will ever develop. What I am about to revel to you has been a closely guarded secret by the most successful people on the planet for centuries.
The secret… find a Hungry Market!
The majority of people on the planet are unaware of the secret. They are trying to get in front of any market; right, wrong or indifferent. The problem is that when you adopt this approach no one cares what you are selling. Calling on the wrong market is a time waster and the greatest creator of mediocrity in business today.
After all, why buy sales training to advance your sales people or hire a marketing firm to help you with your message when you are calling on the wrong market. Calling on the wrong market is the most common mistake in business and the most overlooked. They think by calling on people in need that they will be catapulted to great success; however that’s a lie that has been told around business campfires for years. You MUST sell to people who want your product, not merely need your product.
Granted, the market that you’re calling on may have a need for your product, but I’ll wager they are not staying at home laying awake every night yearning with desire for your product. In the eyes of your market, your product is ho-hum and barely raises an eyebrow.
With this in mind, you can run the best ads, and send your trained salespeople into the field to sell the best possible product in the world. But it does not mean a thing if you don't have access to a group of people ready, willing and able to buy what you have to sell – a “hungry market”.
What determines a hungry market from a market that has indigestion?
There are 3 Must Haves for determining a hungry market:
When you hear of someone enjoying spectacular success you're more often than not seeing an example of someone who found a 'hungry' market and worked it intelligently. Professionals who enjoy this type of spectacular success have shelved the old selling model and learned the ancient secret of the hungry market.
Note: The Old Selling Model is where you build your product first and then find your market. The New Selling Model is where you find a Hungry Market and then build a product to quash the markets hunger.
Sure, you can build a business that's missing one or more of the “3” M’s, but why would you want to kill yourself serving a commodity market when serving a hungry market is so much more lucrative? The intelligent people reading this article will grasp my message and escape from the commodity vortex where they only compete on price to a “hungry market” where you can live like a king.
The goal of this article is to educate you on becoming a marketing genius. That’s right it’s easy to become a marketing genius; a marketing genius knows how to find and serve a hungry market. Awareness of hungry [underserved] markets within your existing market can make you rich. And it’s a lot easier than you think.
Hint: Here’s a way to discover a Hungry Market -- The Magazine Stand Technique
Think about it… every year, billions of dollars in sales start between the covers of magazines. Now, I'm not talking about big magazines like Forbes or Time - those are for Madison Avenue types who have lost touch with reality. They spend small fortunes on advertising that produces a big nada at the cash register. (If you feel like wasting money on big dollar traditional advertising on poorly targeted markets just send me the money. I’ll put it to good use.)
The secret of the hungry market is hidden inside hundreds of special interest magazines that cover practically every subject known to man. These magazines are wildly profitable and have been around for years on subjects such as knitting or collecting bottle caps and even raising earthworms. None of these topics interest me personally, but it PROVES the existence of a lively, hungry marketplace for these topics.
Think about it... how big of a niche do you need to sell into? I know a consultant who has a very specialized niche in software; there are less than 300 companies in the world that meet the “hungry market” criteria. Sounds small… after all how can anyone earn a living with a universe of 300 prospects?
She earns more than $15 million a year serving this niche.
Size does NOT matter!!! A market hungry for your products are more motivated than any liberal activist group. They don't just daydream about the things they're passionate about, they take action. They buy, and then they buy some more in order to appease their hunger and occasionally they will super-size the order.
Here's the take-away lesson from all this:
Keep an eagle eye out for niches that are hungry and when you find it make sure the people in it can be reached, they are passionate about their interest, and they're buyers. The rest is easy… Go For It!
One final note; in order to find and position yourself as “the only choice” inside a hungry market you must become an avid student of lead generation and marketing strategy.
© Copyright Joe Heller. All Rights Reserved.
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