Tag Archives: Niche Marketing

5 Proven Ways to Create a Successful Niche Business

Too many business owners fish in the widest and deepest pools’ trying to be all things to all people. Offering a broad range of products and services to a broad audience and never really create the waves that lead to tremendous profits. By positioning yourself at the top of a smaller, well defined pool (or niche) you will set your business apart from the competition and create a profitable business.

Here are five proven ways to create a profitable niche business.

1. Define Your Market

Research the needs and challenges of your target audience and capitalize on those needs. Understand the community and develop solutions that appeal to a specific group. For example – Understanding Social media in Small Business is a need of the small business community, a niche market would be to develop a product or service that teach small business owners how to use social media in their business.

2. Create Your Product or Service

Based upon the needs of your target audience, you want to create a product or offer a service that addresses those needs. Many start with developing their products first without researching if there is a market for it. First define your audience and establish there is a demand for a new product and then develop it.

3. Create Your Brand Promise

The brand promise is a statement of what your customers can expect every time they engage with your company and is the center of your business. When a brand stands out with a strong promise that deliver value consistently, the value of your offering increases and customers will be willing to whip out their wallets and pay for your products.

4. Become the Expert

Position yourself as an expert in your niche and become the “go to guy” for this product of service. Showcase your knowledge and expertise by writing articles, participating in forums and providing tips, techniques and strategies in short, succinct messages via popular social networking sites.

5. Create specific messages direct to your niche

Business is conducted on an emotional level. Now that you have identified your market, built a community around your offering, you must communicate with your target market frequently. Develop specific messages targeted towards your niche market appealing to their emotions and demonstrating your benefits. It takes 7 times before somebody is comfortable enough with you and your expertise to buy from you so be specific, be credible and offer extraordinary value.

No matter if you are a retailer, service professional, internet marketer or mom and pop shop, you stand for something. There is a reason that you went into business and a reason why you want your business run a certain way. Building a brand starts with defining what is your core purpose and the inherent promise you are making to your customers and delivering value every time. Isolating your niche in your area of expertise and bringing solutions to a targeted group will keep the cash registers ringing every time.

Source: Nicebusinesssecretsrevealed.com

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DMD Lab Shares Fashion PR/Marketing Integration Tips

DMD Lab is a unique integrated fashion marketing agency working to establish up-and-coming fashion brands with a sustainable focus. DMD Lab is a pilot project of DMD Insight, an integrated marketing agency based in New York.

Agencies that offer services in integrated marketing have the capability to serve brands across various communication touch points. At it’s core, integrated marketing focuses on the consistent and strategic creation and delivery of marketing messages and materials, which may include media relations, events and other tactics in the PR realm.  The idea is that by taking an integrated approach to brand management and promotion, brands can develop more fully online as well as offline, so that over time, brands can enjoy greater sustainability and coverage.

Melanie Bender, DMD Insight associate and DMD Lab ‘Chief Scientist,’ sat down with her team and came up with 6 Tips on Integrated Marketing for Emerging Designers.

Enjoy!

First things first, get your positioning straight.

A great place to start is with mood boards. We recommend keeping it visual AND verbal, gathering images and words that reflect your label or its target customer(s). Begin broad and don’t be afraid to throw a lot out there, and then edit it back as you suss out exactly what the brand stands for.

Invest in your brand’s ‘look and feel’.

As you’re just starting out, logo and website design may not be on the top of your list. However, we urge new labels to really get behind it from the initial phase – we can’t tell you how often we see brands needing to do a logo or web redesign within their first 5 years, which is always a bit tricky as you must be careful not to confuse or alienate existing followers. To keep in mind: your logo, website ‘look and feel’, and hantags and collateral (1) should reflect your brand, but not be overtly tied to one collection such that it won’t make sense a few seasons down the road, and (2) should work together to create a cohesive brand identity.

Modular isn’t just for furniture.

When you’re just launching, you may have only limited funds for your website. Complex sites utilizing flash or extensive databases are pricey, so we recommend starting out simple and keeping it modular so it’s easy to add on as funds become available. Here’s a good place to start: Homepage, Collections, About, Contact, and Stockists, as well as a strong Content Management System (CMS). Keep in mind how you might implement e-commerce or other desired functionality in the future.

When it comes to PR, be strategic.

Do your homework, and make a list of outlets and sections you’d really like to see your brand get coverage in – think in print AND online. Keep in mind what’s on target and within reach for your label and clientele – you may well determine that Vogue is not right for your brand! Find out what editors are responsible for those sections, and send them a succinct but informative email introducing your label (PR Couture has some great resources on this) and don’t forget to include a few images. As you’re cultivating relationships with editors and bloggers, keep those big placements in mind.

Ready for your media launch?

Have your nuts and bolts in place. Prior to putting your brand out there and engaging media, you’ll want to have everything ready to quickly accommodate editorial requests that come in. That means loan sheets, an inventory tracker, a system for getting press hits up on your website or Facebook page, and someone to follow up on any outstanding sample loans. You may find that some of your best opportunities result from short-lead requests (lie ‘we need it tomorrow’), so it pays to have a good system in place from the get-go.

Get connected in online AND in person communities.

We’re seeing two distinct worlds emerging, and as an emerging brand you need to be active and engaging in both. You may find that you gravitate towards just one, but you know what – that’s also true for many of the people out there that you need to be connecting with. Choosing to explore only online OR in person networks could mean a host of missed connections and opportunities for your brand. If you’re really comfortable in only one of those realms, don’t be afraid to identify someone else on your team to take charge of the other.

Source: PRcouture.com by Crosby

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Effective Video Marketing

Effective Video Marketing

Internet video Marketing, Secrets of Being Seen

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The Praise of Niche Marketing

Big companies might have their sights set on the “mass market,” but entrepreneurial companies realize the key to success is in satisfying the individual.

The phrase “niche marketing” contains within itself both highly attractive and self-limiting qualities. It’s easy to detect a whiff of condescension, whispering to us “Small, fragmented audiences are fine for small businesses with limited goals, but big and serious companies have their sights set on the mass market.”

And there is a degree truth to that. Procter & Gamble has divested itself of smaller brands — like Comet andDuncan Hines — to focus on a higher-yield stable of brands with global appeal. Meanwhile, the big box retailers — as well as supermarkets — are reducing the number of brands they stock. If you’re not a top three brand, you’re not SKU-worthy.

For these reasons, I was both surprised and delighted to read recently that something like half of Amazon‘s book volume comes from puny items that show up on its sales rankings at 100,000 or below. Sure, it sells its share ofNew York Times best sellers and other blockbusters. But consider the thousands upon thousands of the obscure, the arcane, the forgotten — all of which Amazon makes available to readers who refuse to have their tastes dialed into the most popular national frequency.

Simply put, what Amazon has done is aggregate many niches, and through that effort it has created a huge and successful mass business based on understanding and satisfying individual needs and tastes. It invested millions in inventory and an amazing sophisticated order-fulfillment apparatus to be able to offer and send me — in one day — a copy of Sanskrit Pronunciation (ranked 277,198). And Amazon has made it pay off.

Of course, Amazon has succeeded by filling a void, a hoary principle that still holds in the digital economy. While more books are being published than ever before, only a small fraction of them make it into the superstores that dominate the retail distribution topography. The warehouse clubs, who control an ever-increasing percentage of book sales, compress their offerings into an even more brutally edited inventory. This leaves many readers — a significant number, apparently — with no way to indulge their un-mainstreamed tastes, or even to wander and discover.

And it’s a phenomenon that’s not just relevant to books. Desperately unsatisfied consumers are looking to find their personal preferences met across the board: music, food, fashion, technology, even radio. In the last 10 years the audience for public radio has doubled, a soaring increase that I believe is due in large part to the homogenized mush that commercial radio pumps out.

The message of this is: don’t be afraid of niches. Embrace them. Even more important, the Amazon example compels us to redefine the very definition of a niche. Due to the massive consolidation we’re seeing at virtually every level of the economy — huge openings in the marketplace, stirring opportunities in fact, are being created. And these are the kind of opportunities that are particularly open to entrepreneurial success, because they require the kind of consumer sensitivities and insights that the calcified giants continually prove themselves incapable of generating.

These “New Niches” are clearly a different path to the market than a single, “Big Bang” approach to market creation. But they make a ton of sense, given the reality of today’s rapidly diversifying America, and the slow disappearance of mass-market demographics. As such, to build your business around a collection of well-positioned “Little Bangs” can lead you not only to success, but to creating your very own weapons of mass distraction.

Source: Inc.com By Adam Hanft

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