A common problem we encounter as a business growth consultant, is when a business has such a fantastic product that it’s accessible to just about everyone. Doesn’t sound like that’s a big problem, does it?
Well, when it comes to marketing such a product, we often find that businesses are quite resistant to taking a more targeted approach, as they are afraid of losing out on potential business from other markets.
The thing is, even if your product or service is accessible to just about anyone or even something reasonably broad like everyone in the UK, it will still serve you better to choose a niche and target it – and it’s more than likely to increase your sales.
Here are 3 reasons why:
1) Your Marketing Strategy Becomes More Focused
When you target a niche, your marketing becomes very coherent. What this means is that you can ensure that every action you are doing is pointed in a single direction, so that when your target niche encounters your product or service, they are immediately drawn in by everything you are doing. You easily start to appear as you understand them and therefore would have something of value to them.
When you create marketing that could appeal to just about anyone, just about everyone ignores it. It becomes “just another product”. We’ve been working with different businesses in different sectors for over 11 years now, and it is pretty clear that if you want to be seen, you need to be a bit different and very specific.
Find out how a customer Avatar can help you to develop a more focused strategy here.
2) You Can Appeal to Your Customer’s Emotions More Easily
It has been proven with fMRI neuro-imagery that the parts of the brain used when evaluating brands are the ones that deal with personal feelings and experiences – emotions – and not the areas that process the actual information. There have also been psychological studies with test groups showing how people make an emotional decision and use logical reasoning to justify the emotional decision – but the base decision is the result of an emotional response at its root.
The bottom line is, your business should be targeting the emotions of your customers. It is impossible to try to appeal to the emotions of every single type of person – but if you target your niche, it can often become incredibly simple to figure out what emotions are involved and how to appeal to them.
We explained how to determine the most common dominant buying motive in a recent article.
3) Niching Can Give You Faster Long-Term Business Growth
When you’re planning your overall business strategy and marketing plan, you don’t have to target a single niche. However, if you do choose to go for more than one, make sure you have the resources to do it.
You will need to have multiple streams of marketing and multiple campaigns going on concurrently, with different messages, different styles and different strategies. If you think your team can handle that, then go for it. By doing that, you will have segmented your marketing and will be appealing to people much more directly, which is a far more effective approach that will result in greater exponential growth than blanketing everyone with generic marketing.
However, many business advisors – myself included – will often recommend to most business owners that they should focus down on one niche first and target it hard. Once you’re in and have a decent flow from that first niche, you can then systemise and create processes, which can be adapted for other niches to ramp up and diversify your marketing.
You can then experience fast and sustainable business growth with very little extra effort.
Remember, choosing a niche doesn’t limit your sales and is, in fact, much more likely to increase them! So choose a niche and start creating a much more focused marketing strategy.
If you would like to help in creating more a more focused marketing campaign, or to hear more about this, please feel free to get in touch below.
Alternatively, we would be more than happy to discuss any other burning issue that you are facing right now.