1 of 11

Slide Notes

An effective marketing strategy is essential if you want to "hold your own" in today's highly competitive landscape. However, the success or failure of your marketing efforts often comes down to one often overlooked and vital strategy - defining your niche market within your industry.

What's Your Niche? The Vital Role It Plays in Marketing Strategy

Published on Nov 20, 2015

No Description

PRESENTATION OUTLINE

What's Your Niche?

The vital role it plays in marketing strategy
An effective marketing strategy is essential if you want to "hold your own" in today's highly competitive landscape. However, the success or failure of your marketing efforts often comes down to one often overlooked and vital strategy - defining your niche market within your industry.

Successful companies

have a well defined niche
You need to know who you are and fully understand who your customers are.

Defining your niche can be the difference between establishing and growing a successful business or struggling out of the gate due to failure to establish a clear and unique identity in the crowded marketplace.

A strong foundation is the key to any successful business. It starts with defining your niche - playing to your strengths.
Photo by Rachid Lamzah

Why define?

It can be profitable!
While a niche is (by definition) a smaller, more focused segment of the market, it can still be very profitable.

Identifying your market niche sets the stage from a marketing perspective. You can no longer enter the market and expect to catch everyone's attention. Very few organizations have the resources to compete with the big boys in their respective industries.

Defining your marketing niche helps identify core messages about who you are and what your company does.

Once you clearly understand where you fit

it is easier to communicate your strengths
Defining your niche(s) allows you to create clarity about:

Who your customers are, what they need, what they want and the products and services you can provide.

How you are differentiated from other vendors. What's your value proposition?

Your brand image - how you are perceived in the industry and by your customers.

How to market your company. Which marketing, SEO and social media strategies are most appropriate for you.

Where to focus your budget and allocate resources in order to maximize ROI.
Photo by highersights

For more info read

Does Your Business Website Communicate Your Unique Value?
For more information on defining your marketing niche and differentiating factors, navigate over to WhiteSpace at www.whitespace.on.ca/blog and read Does Your Business Website Communicate Your Unique Value?

http://www.whitespace.on.ca/Blog/bid/100566/Does-Your-Business-Website-Comm...
Photo by jonas_foyn

How to

Identify Your niche
Identifying your niche is an exercise in not only better understanding who you are and what your company name represents, it also helps to identify what you are not and how you are different from competitors.

The first step

is to question your existence!
Ask yourself these questions.

What is my target market?
What is my area of expertise?
What do I enjoy doing? What do I not enjoy? How is this applicable to the products and services my business offers?
What do we offer? What do we not offer?
What are my personal values? How are they reflected in my organization?
Who values my products and services?
Who are my competitors? What makes me different from them?
Why should customers choose me over others?
How do I want to be perceived?
What "extras" or "value adds" does my business offer?
Photo by VinothChandar

successful companies

create content and craft messages that speak to their target audience
Accurately identifying your niche provides you with the information you need to create content and messaging that speaks directly to your target audience.
Photo by Haags Uitburo

The end result?

Understanding!
You will clearly understand . . .

Who you are

What you offer

Who
Photo by Tc Morgan

find your niche &

get a free marketing evaluation
Visit us at www.whitespace.on.ca/blog. Just register for one of our free marketing ebooks and answer YES, when we ask if you'd like a free evaluation.

Or . . . just give us a call at 416-449-9559. We're always happy to help.

Untitled Slide

Drop us an email. Give us a call. We'll be pleased to help.

murray@whitespace.on.ca

penny@whitespace.on.ca

www.whitespace.on.ca

416-449-9559