I believe one of the most underutilised marketing weapons for successful small business development is the power of niche marketing. Niche marketing is simply marketing to client and customer groups that fit the demographic and psychographic profile of your target market. I’m sure that you’ve come across the well-known phrase ‘Know Thyself’ which is the famous inscription on the Oracle of Apollo at Delphi in Greece. In authentic marketing terms this phrase is important but there’s an even more vital dictum to be aware of – Know Thy Client! Here a just a few of the benefits associated to defining your niche: 1. Your Products and Services Becomes More Desirable Having a well defined niche enables you to tailor your products and services to meet the specific needs of your target audience. People want to buy things that solve their unique set of problems. Would you rather buy mass produced suits or a suit that has been made-to-measure? The later, one would imagine! 2. Your Name and Brand Spreads Rapidly People in groups talk! Solicitors talk to solicitors. Property agents talk to others within the property arena. Investment bankers talk to investment bankers. If you’re good at what you do and you provide products and services for your specific niche, your name will travel fast. 3. It Becomes Easier and Less Expensive to Prospect When you pick the right niche, it becomes very easy to contact your prospects. Most good niches have a list of people who are either members of a group in your niche or who have purchased things associated with your niche. Instead of spending money on what I call ‘spraying and preying,’ why not spend your cash on getting your message to exactly the right people in your niche who WANT to hear your message. 4. You Become Known as THE go-to Expert When you focus your attention on one specific niche and tailor everything you do to that niche, it won’t be long until you become known as THE credible authority within your field. Don’t forget that clients seek out experts and are usually more than willing to pay higher fees for the privilege! WANT TO USE THIS ARTICLE IN YOUR EMAIL NEWSLETTER, WEBSITE OR BLOG? Feel free but may I ask that you include the resource box below in full. You are also welcome to use my photo.
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I believe one of the most underutilised marketing weapons for successful small business development is the power of niche marketing. Niche marketing is simply marketing to client and customer groups that fit the demographic and psychographic profile of your target market.
ABOUT THE AUTHOR: Victoria Player works with coaches and other women entrepreneurs to reach MORE people, change MORE lives and create a better lifestyle for themselves and others by utilising email, information products and the Internet. To get your FREE audio training program packed full of practical how-to business building advice, visit http://www.VictoriaPlayer.com
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