Niche Marketing

NEW! We just heard about  a new niche advertising opportunity last week from SME member Joe Bock.  The first luxury magazine of its kind in Hawaii, PALM, is being launched by the folks over at Nella Media Group for just a handful of luxury property owners.  Issued only three times a year, your ad buys will be in the current issue even longer than quarterly publications.  So if your ideal niche client is high net worth Honolulu property owners who like to invest in the latest innovative residences, you should definitely reach out!

Here's more about PALM: 

Published tri-annually, PALM will explore the relaxed, world-class way of life that is available at the residences, defined by anticipatory service, resort-like amenities, an intense pride of work, and Hawaii style and comfort. The introductory issue of the magazine will be hand-delivered to residents of One Ala Moana, Hokua, and Capitol Place, and mailed to those who have purchased residences in Park Lane, which is currently in development.

Face it.  Sometimes we all get greedy.  We angle to get the biggest piece cake.  Rush to the front of the line.  Sales and marketing people are competitive by nature (that's how we got these jobs!) and so when we see opportunity it's in our nature to want to grab for it.  But however counter-intuitive it feels, we know that niches are often the only way to go.  No matter how big you are, you need definition in your business.  Wal-Mart has 11,5000 stores in 28 countries, but you won't see them running after the luxury car business or selling Rolexes.  They know their customer. Do you know yours?

Stay in your lane. It takes discipline but sticking to a strategy and honing in on a subset of the market creates a focus for your business that will lead you to more success.  And the more focused you become, the less competition you have.   If you are focused on doing one thing great, you will quickly rise to the top of the list for providers as the best.  

You'll hear consultants or service people argue, "Yeah, but I can do anything!  My customers value that in me."  Maybe.  But when was the last time you searched Google for "people who can do anything" when you wanted your hair dyed or a roof repaired?  Not many.  

Any yet guess how many hits it returns in a search? 

So try it!  Think super-small this month.  Define, hone and hew down your core offerings to a tiny sub-set.  Try marketing a teeny tiny feature of your business and see if that doesn't set you apart in same way from the competition next week.  

And let us know what happens.  Share your stories. This group will only get better if we share what we know with other.  And we love hearing from you!