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Small business niche marketing
The secret to small business marketing is being able clarify who marketing your product or service to will produce the best result. Without the resources to reach millions of people, small business owners have to concentrate their efforts on a small tightly defined market or research the market carefully and identify a small group with a similar urgent problem they can solve. The fact is that few small businesses are going to become global household names and even if they did, most simply do not have the capacity or the desire to support a huge market. But do not let this make you think that you cannot optimize profits.There are certain small businesses who deal only with specialized segments of the market, yet their business turns over millions of dollars a year. This is because in their market they have a huge presence and high reputation. These small business owners know everyone and everyone knows them. So the strategy is simple-Define a clear niche for yourself and set out to own it. Other considerations for developing a niche business mean that you should:
It is important to keep in mind that marketing to a niche does not have to be local to you. Your market niche can be global as long as it meets most of the criteria above. Once you have selected your niche its much easier to identity the magazines people read, the trade shows they visit, the conferences and networking meetings they attend, the places they meet, directories they are listed in, the online forums they are members of etc., and then become a part of that community yourself. By working in a niche market you should quickly become an expert in solving their unique problems. You will have to understand their jargon. You will be talked about and recommended by your clients when they get together. You should also work to establish relationships with editors and webmasters in the market and built a guru status. Most importantly you will be much more able to customize your products and services to the specific needs of your niche market and demonstrate not only that you understand them, but that you also care. All business marketing is ultimately about forming relationships but that is so much easier for a small business that use niche marketing because you can be much closer to the issues and you are able to adapt to changes more easily.
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