The Seven Guidelines Any Small Business Must Follow When Setting Up Or Seeking A Niche Niche marketing means marketing to a select group of people that share a common interest. Niche marketing is the exact opposite of trying to appeal to a general group of people that don’t have much if anything in common . . . aka “everyone.” Here’s seven guidelines that will help you set up or revise your niche: 1. Every product, service or small business either appeals to or has the potential to appeal to a concise definable group of people in a concise definable marketplace. There are NO exceptions. You must be able to portray a clear “snapshot” of your product or service to your target market. If you cannot (or will not) do this, your business’ days may be numbered. 2. A niche market has COMMON needs and/or COMMON interests. This means that a niche market is NOT just a small group of people in a defined geographic area. 3. YOU are not “typical.” What YOU want or how YOU see your market is pretty close to irrelevant. Sorry! Only the “market” decides. 4. Never confuse a “Mission Statement” with a niche position. The hard truth is that any Mission Statement that is not founded upon a true niche is usually just “so many words.” 5. Never set your niche “in stone.” Your unique selling position must be able to evolve, grow and/or change. If it does not, you will not or do not have a true niche. What you may have is a “trench” . . . a grave with no ends! 6. Never “fall in love” with your niche. This is much more difficult than you might imagine when you first consider it. If your chosen niche is not working and you can’t get a handle on how to fix it, get a divorce! Be ready to RE-niche at any time. 7. Be 100% certain that you can deliver on your stated position every time . . . with every customer or prospect. If you say you’ll provide a free written estimate, provide it in a clear professional way, not “scrawled” on the back of a lunch bag. Overall, you need to consider what business you are really in or intend to start. You need to be darned good at “something.” Sounds simplistic? Consider the following examples. IBM apparently forgot to ask “What’s our real business?” They stumbled badly until they actually re-niched and recast themselves as “selling business solutions” rather than just computer hardware. Kinko’s started out as a tremendously successful copy shop filled with do-it- yourself photocopy machines. They evolved into being “your branch office” and finally teamed up with FedEx to expand their services to small businesses and entrepreneurs. These and many other examples show that successful niching requires an initial laser-beam focus as well as the ability to change and evolve in these fast- moving times. You need to decide not just what you’re going to do or offer but what you’re NOT going to do or offer. Say it clearly and say it often: “THIS is what we do.” “THESE are our services.” When YOU get sick of hearing it and seeing it, then and only then will you be even close to “scratching the surface” of reaching your target audience. If you have the idea that one or two or even several ads will bring immediate results, you are seriously mistaken. Insert the word “constant” into your thinking because “constant” exposure is what your business needs - - but ONLY after you have clearly defined your own niche and your own target market. Back to Home Page About the Author Small Business Workshops Information Small Business Marketing Audit Getting Any Business Unstuck Book Launching a NEW Business Book |
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