The “Above-the-Waterline” Stuff Matters
April 9, 2018
Looking for a Branding Breakthrough?
October 16, 2017
Rebranding Done White (Right)
September 7, 2017
Too Much of a Good Thing?
August 6, 2017
Yes Virginia, There Are Riches in Niches
December 17, 2016
The Billion-Dollar Branding Question:
Differentiate or Category-Create?
November 6, 2016
Maintain Your Competitive Edge:
September 14, 2016
Branding and the Power of Choice
August 29, 2016
Business Naming Fail
July 23, 2016
Why You Need To Protect Your Brand and Your Online Reputation
July 12, 2016
Don't Be a Swiss Army Knife
April 25, 2015
There are many reasons to narrow the focus of your business through niching:
You can’t build your business if you don’t stand for something in the consumer’s mind. Often the best way is to isolate a single word or phrase you can dominate or an attribute you can own.
Trying to appeal to everybody is a losing proposition. Unless you’re selling toilet paper, your offerings are NOT for everyone.
No matter how many strong selling points or expectations your business might have, you are better off choosing one and making it your sole focus.
Either you can choose to focus your business by niching, or you can choose to be me-too and be just another “catch all” business.
Niching can help you dominate relevant search terms for your website.
Think of niching as slicing your market vertically. There are many ways you can focus
your offerings. Here are just a few ways you can niche your business.
Geography. A bottled water brand called Fred started by focusing only on a few hip boroughs of New York.
Income level. Hundreds of luxury brands from Lexus to Rolex to Neiman-Marcus take this approach.
Gender. DanActive yogurt is aimed specifically at women.
DMA (Demographic Market Area). Curves became a business phenom when it focused on small towns.
Price point. Walmart focuses on low prices while Williams-Sonoma is happy to take the other end of the scale.
Sales channel. Publisher’s Clearinghouse made a fortune by focusing exclusively on selling magazine subscriptions through direct mail channels.
Distribution model. Think of Dell computers originally selling direct, or Gevalia coffee selling exclusively through continuity programs.
Audience-driven offering. Think about something as simple as vegan pizza, focused on the narrow need of a specific audience.
Age. Consider all the products, for instance, that are targeted at the aging population, from the Clapper to Medic Alert services, and even a online dating service called Our Time.
I could go on, but you get the idea. Niching is where it’s at, no matter how you slice it!
I'm busy working on my blog posts. Watch this space!
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