Back after summer break, and deeply involved in a new project to apply niche modeling to business analytics in a completely novel way.
One of the main problems confronting new business owners is defining their market niche. A market niche is a bit like art, you know it when you see it, that is, when you are making a profit. But experimenting with product lines in conventional markets can be time consuming and expensive.
However, the Internet is a whole new world. Instant feedback from customers is possible, and can potentially be used to adjust and refine and optimize your business. Business entities and technologies are becoming an ecosystem in themselves. Niche theory provides a way of looking at it.
A new site called HitTail filters the massive amount of information from hits on your site due to natural search into a list of keywords called ‘suggestion’. These keywords can be used in a number of profitable ways. For example, GaryTheScubaGuy used these unique keywords in Adwords advertising campaigns to greatly reduce costs and increase the effectiveness.
… now my top 10 keywords on this campaign are #1 and I am spending 36% less than I was 3 months ago to be there.
The approach of my business analytics project is guiding and shaping a website or online business into a more profitable niche, a process I describe in the post What is NicheShaping About?. The theory is that using suggestions from HitTail to create novel content will inevitably give more hits on subject matter more relevant to more people. Ideally, the process discovers natural niche markets, and eventually produces total dominance — just like natural ecological processes.
If your website is highly constrained and you are not interested in an evolutionary approach to optimizing your business, you can still make use of suggestions from HitTailing to fill out and deepen your existing content.
It is also fun to add novel content to your blog or website and increase traffic through increased search hits on new keywords. To survive and thrive in the future a web site will need to become an authoritative source, by developing and maintaining web dominance.
To help people to achieve this I have set up a discount source for articles written to your specifications called NicheShape where you can get a custom-written single article of greater than 500 words for $20. Also available are subscription and web dominance packages. Please check it out the site and let me know what you think. I will continue to run this blog to promote numeracy and provide a forum for the theoretical aspects of niche modeling, and use the NicheSpace blog for the business analytics project.