Question about Market Leadership in Testing Phase of a Niche

[hsanchezp]

Hello,

I've been enjoying all the wisdom that Ed Dale, has taught us regarding Market Leadership. I've been in the Challenge since 2008, and this is something that had never been shared with us at this level of depth.

So as Ed says, market leadership is something that takes a long time to build, which I agree with, but at this point I'm a little bit confused, as I know we are in the testing phase of the niches, so I'm not sure if it is certain at this point, if we will continue with the site or not down the road.

Sometimes I think of market leadership being similar to getting married, so I guess at some point in time, we will need to pickup one that we will lead in the long term.

So my question is: How do I know if it is worth doing market leadership for a niche we don't know if it will be profitable enough to continue in it?

I'm asking this question, because earlier this year, I tried to get involved into a niche market myself, and started to participate in forums, read books, magazines, identified and followed the leaders in the niche market, and tried to become one of them in the niche itself etc., but then when the Challenge started, and I learned the super cool lesson from Dr. Anthony Fernando about competition analysis, I realized my keywords were almost impossible to dominate, and there was very little commerciality in it. So then I got frustrated, that I had spent so much time and effort, learning a niche that might not be the best to "get married" with so to speak.


Thanks a lot in advance, for all the top quality content you have shared with us so far. I've been enjoying every lesson

[Caro :-)]

I'd encourage you to wait until the full week is out and all will be revealed.

AND Market Leadership IS part of the testing process. Online 2010, it has as much weight as getting authority backlinks.

Best

Caro

[hsanchezp]

Thanks Caro! I appreciate your prompt response to my question

[Ondermania]

This is a question which i was also curious about a few weeks ago, then i thought about it and realized the genius behind why market leadership works.

Everything we do on the internet (Be it video, audio, writing etc) is mainly done using 'public services' which is separate to our blogs, which is a crucial element in gaining recognition and credibility since there are also other people who are using these services who currently do not know about you and are looking for useful information.

But most importantly of all, is that you'll be able to quickly see how savvy your audience is in a market in finding out information. So say Youtube was your platform for video, you will instantly be able to see how many views you're getting as well as comments and other stuff. It's something i noticed instantly on my niche i worked on in last years challenge the minute i decided to add videos to my blog, which all came by accident.

I was getting random people messaging me and requesting i create specific videos in order to answer their questions. Before i knew it, i was directly in contact with these people on a one to one basis. In other words... I wasn't someone anonymous which created instant rapport and comfort with my audience...
The power of this is ten fold, because it will mean that further down the line when it comes to selling stuff, i will not need to market to them or prime them up (in a traditional sense) in order to buy since they will have already warmed up to me and got to know me before hand, which will make for an easier sell...

It's true Marketing without Marketing...

It was then that i realised the power of market leadership, especially now looking back. Best of all... You get to eventually carve out the exact type of products to create for your audience just through the requests they're making in their replies...

Slightly going off tangent, but hopefully, this sort of explains the importance of including your voice in a market. And Youtube for video, and audioboo for audio are the perfect tools for it, and in getting those back links we're all talking about which will all come automatically as your recognition becomes more widespread.

Onder,