As I discussed in my last article, among the business growth strategies one can implement, deciding what market to focus on is an often overlooked element. Niche marketing is critical simply because there are so many voices attempting to get our attention. Breaking through the clutter of noise is mission #1.
Which leads to the next question, what niche market should I focus on? It’s certainly likely that over time you’ll develop multiple niche campaigns, but we need to start with one. There are some common, and less common, ways to segment your market, which we’ll explore in this article.
The most common method for niching is to focus on a particular type of profession or industry. Let’s say for example, you think your market is “small business”. Unfortunately that’s going to be a bit too broad. Where within small business do you want to focus? Manufacturing? Retail? Professional Services? Something else?
Personally, I’d niche it even one level beyond that. For example, within professional services you could develop campaigns directed at financial advisors, consultants, attorneys or accountants. Again, the more the prospect hears a message that says, “This is for YOU”, the greater the likelihood that they will pay attention.
A less common, but equally effective, method for niche marketing is to focus on either specific problems a larger group faces, or on a skill that the larger market would like to learn. Let me give you an example.
The Problem: Many business owners, regardless of the type of business they are in, have a desire to be able to write a letter or email that gets opened, gets read and (most importantly) gets acted upon. Thus a highly focused niche marketing campaign that teaches someone how to do just that can be very powerful. Here’s an example:
Naturally, from purely a practical perspective we always want to appeal to the largest group possible where we can still attract attention. In part that will be defined by how competitive our market is. The more competition, the more you’ll want to micro-niche.
The next step in the strategy is to get prospects to self-identify themselves that they have an interest in your services. I’ll share the process for doing that next time.
Mark Satterfield, Gentle Rain Marketing — Author , Marketing Consulting Expert, Lead Generation, Business Development, Marketing Strategy, Get More Clients, Business Growth Strategies, Increase Revenue — Click here for his Facebook Twitter LinkedIn YouTube