If you think
that selling to the widest possible market is the best path to success…think
again. In-fact, think of your business as a delectable piece of chocolate
- mouthwatering, rich and satisfying. Now what happens to that piece of
chocolate when the formula to create it is tampered with and diluted?
It's tastes different, looses its appeal and is no longer a special piece
of chocolate.
Niche marketing,
on the other hand, maintains the appeal. Instead of marketing to just
about anybody who might buy what you sell, niche marketing provides a
specialty to a carefully identified target market.
Say you are
a writer who specializes in science fiction, but you're in a creative
slump. Then you hear that non-fiction self-help books sell well. You get
excited start thinking about all the easy money you can make by giving
people advice. So you leave your specialty behind and jump ship to become
the next self-help guru. Six months later you hire one to put you back
together.
In the time
you wasted on being something you're not, you could have easily moved
beyond your creative dry spell and been back on track as a sci-fi writer.
Of-course
when opportunity knocks it's not always easy to say no. I recently jumped
ship and ventured beyond my niche. I gave a presentation to a group of
sedate and dignified businessmen. I felt like an alien drop-shipped from
the far ethers of outer space.
I should know
better. I know my niche. As a writer I specialize the arts & entertainment
and the healing arts. As a coach I work with artists from all disciplines
- creative spirits. We speak the same language. It's a clearly defined
market, which allows me to know where to advertise and what to communicate.
Have you determined
your niche? Once you determine the group of people you want to reach and
what their needs are, you avoid wasting time and money. Your niche will
give your marketing efforts a natural, sharp focus.
When defining
your niche make sure:
-
The niche is growing not shrinking
-
That members of the niche have the ability to pay what you charge
-
That they have a need or desire for what you sell
-
That they can be easily reached by phone, e-mail and snail mail
Once you know
your niche you can identify and network with top decision makers. You
can track industry trends by reading publications and seek out opportunities
to get your product or service in front of members of your niche.
So what will
it be - defined niche marketing or marketing to the general public? It's
your decision. However, with no intention to sway you one way or the other,
on the whole, people who practice niche marketing earn more than generalists.
My advice…don't
dilute the chocolate.
© Copyright
2007 Susan Ann Darley. All rights reserved.
COACHING - Take conscious control of your life and live
creatively in the solution.
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