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Which Targeted Segment Are You Marketing To? Part IV:
from: Interest Group -- Successful Relationship MarketingOne of the fastest-growing areas of Internet marketing of recent months has been the veering away from high-competition arenas that are saturated with Big Boy companies as well as multi-thousands of customers. The savvy marketer is now looking closely at much smaller markets... niches that have gone unfulfilled as the throngs look to captivate buyers in oversaturated areas.
Niche Marketing. Using the power of the Internet to define small, interest-focused groups who are hungry for information, and many are feeling lost in the plethora of online information and limited abilities to find things on their own. That’s where YOU come in, with a plan for establishing close relationships with interest-specific buyers.
Relationship marketing is not a one-size-fits-all approach, because it encourages focusing on selected clusters of customers. Perhaps you already have a devoted list of consumers. One of the best tools for identifying attractive market segments is also one of the simplest: listening alertly to your clients’ comments and feedback. When your customers make suggestions, comments, or complaints, it is critical to listen as carefully as possible, attentive to the person’s words.
An online survey can also supply further information about your customer’s demographics, the kinds of services that might interest them, and your prospective buyer’s motivation for paying for such services.
Here is a list of items for observation, when targeting your specific-interest group:
1. Size of the market -- How common is the visitor’s
situation (or the need for service) in their specific-
interest area?
2. Obstacles to market entry -- Does considerable
competition already exist for your proposed product
or service? If so, does your item offer some bonus
value or benefit that would help to be a magnet for
participants as well as retaining them?
3. Clients’ attitudes and activities -- What
characteristics of your visitor’s behavior might be
valuable when assessing your market segment? For
example, do you offer services or products that are
recognized as ground-breaking or outside the
mainstream? These would be more likely to tempt
customers who tend to use new and innovative services.
As you explore all the possibilities and begin to communicate closely with the people who seek you out, you will find that you can fine-tune your offerings to meet the needs of your growing group of like-minded buyers. Over time, your products will become more and more specific to your particular group.
Congratulations, as you are successfully growing a niche market of your own making. Your business is unique, which is exactly what your customer is looking for!
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