The Power of ” Finding Your Market Niche”
My years at DIR Incorporated have taught me a marketing secret. Often, it is the thing that makes a business unique that makes it a perfect fit for serving a very tight niche market. It can be as simple as a different packaging type or style, or an established reputation for a special process.
The problem with many small businesses is that one staffing agency looks like another, and one plumber looks like the next plumber. So what happens is that when a prospective client is looking for their services the client picks up the phone and asks two words “how much?”. The basis of the prospective client’s decision is all about price.
Now, imagine you can find something about our business that really makes you stand out as the obvious choice in your industry or in your market, and then envision yourself sharing this difference with the world. Without a doubt your “brand” will very quickly rise to the top of your market, and you will no longer need to compete on price.
Take for example clothing outlet “Lane Bryant”. They cater to plus size women. In doing so, they have carved a multi-million dollar niche for themselves. GoDaddy, Google Partners, Hatchbuck, and WordPress have opened a similar door for our agency.
Very few agency offer small businesses an all-in-one affordable quality websites with built-in lead generation and CRM capabilities. As a result, we do not need to compete against traditional website development companies that offer digital marketing as an add-on.
So where do you begin?
Start by interviewing a handful of your clients and ask them specifically why they buy from you, how they found out about you, what makes them stay with you, and why they refer business to you. Do not forget to thank them for the insight.
Very often, you will find that there are little touches you provide that really are a big deal to your market or your specific clients. Those can be the things you want to tap into to communicate how you’re different.
Another great place to look is your competitors. What do they claim to do that is special? What are they NOT claiming to offer? Where is your industry under-served? If you recognize nobody is doing something, promising something, putting themselves out as an expert in a particular area, then maybe that can be your point of difference, and expertise.
Once you’ve conducted your interviews, create a powerful, short phrase that lets people know how you’re different and unique. Then when someone asks you what you do for a living, try to answer the question with this marketing phrase, your core message. For example, instead of saying “I’m a plumber,” which is essentially just a title, you could say “I teach homeowners how to prevent clogged pipes.” It almost forces the person to ask how you do that.
Capture a phrase that really gets at the heart of what your market is missing, or a frustration, or something you do that is exceptional in eight or ten words. That can become not only the way to differentiate your business; it can become the real seed of all of your marketing messages. Everything will grow from that one defining statement.
Using a cloud-based program like FreedCamp you can create a functional task list. When you start using the software you will find a section where you will describe how your business is different from your competitors and what you offer that makes you unique.
Your Core Strategy
Now, that you’ve figured out your difference, you’re ready to craft your core message, the answer you will use the next time somebody asks what you do for a living. So go ahead, be bold…be different. Get started by finding your market niche.