This article was contributed by Guy Ascher, a marketing consultant with tons of experience in helping companies (particularly small businesses) tackle issues with building their customer bases. I was excited to see that he was willing to offer up some of his insights for my readers.
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3 Tips for Finding a Niche in a Crowded Market
By Guy Ascher
It is difficult, but not impossible to break into crowded markets. Going up against a number of competitors to capture a coveted space for your business can be very challenging. This seems especially difficult when you look at the ‘big guns’ that have the financial backing to help them dominate the market. The key factor to remember in business is that there is always a way to stand out from the crowd. We will use this post to discuss three tips on how to do this effectively so people who are passionate about something specific can start their own business in a crowded field.
1. Do Not Innovate – Start a New Market
Innovation is now like a good word gone bad. It is one of those words that have become overused by businesses advertising their products. The word does not connect with those at whom the advertisements are aimed – the consumer – and therefore means so very little. Marketers who use the word innovate are essentially all a part of the same market, trying to attract the same customers, with the same or similar product or service, in just about the same manner.
As you stand aside and look on, the market reflects a large mass of businesses who try to out shout each other as they ply their wares. Why would you want to join in? We say forget innovation and entering the shouting match, and focus on creating your own market. Using the same product, you will spend your first year attracting and educating a new set of people about what you have to offer. You will have to first identify the problem you can solve for these people, and use that to create a new alternative market to the one your competitors thrive in.
2. Focus on Things that are Productive and Yield Results
As a small business, you are going to have to work harder than your competitors to make your breakthrough. There is a difference between working hard and being productive and working hard by just doing many (unnecessary) things. You are creating a new market, so whatever you do must aim to build that market. These customers exist on various platforms such as social media (Facebook, Twitter, and LinkedIn) and the most popular search engines such as Google. You need to get on those platforms to interact with them. How fast you are able to leverage each medium will mean a great deal to your campaign.
Imagine sitting for days creating a flyer when getting on Facebook will put you in touch with far more people than your flyer can reach, and at a much faster rate.
3. Build Your Brand – Personalize Your Customer’s Experience
From the very start of your campaign you should aim to be different. If you are to stand above the rest, you must be creative and constantly think ahead. Think about things your competitors have not done, and use that to project your next move. How will you use what you have found to personalize your brand so that the same product is presented in a different yet appealing manner to your new niche market?
Whatever you do, your product and marketing campaign must allow the people you are targeting to feel they are a part of the movement. You are building a brand, and you are doing so with a group of people whose needs you identified and are aiming to fulfill. They are your niche market and your gateway to a bigger market.
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Guy Ascher is a website marketing consultant. He enjoys sharing his insights on various blogs. WhoIsHostingThis.com is home to hundreds of reviews on the most popular webhosts such as iPage.com, Dotster.com, and more.
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