NicheNews, 1st edition
Niche vs Shotgun Marketing
Effective marketing and company growth depends heavily upon a steady flow of information about customers, product value, competitors and market conditions, using data provided by valid research methods and analyzed using proven techniques.
Niche Marketing is a sophisticated marketing approach. The overall benefit is you are able to measure and repeat your successes. While there are some successes with a shotgun approach, there are also negative consequences. I understand wanting to engage in shotgun marketing because it is a bit fun, easy, action oriented, flashy, appeals to the entrepreneurial spirit, you are adored by the sales rep and it just might work!
Are Any of These True For Your Company?
- Unhappy with your sales department?
- Looking for new distributors again?
- Spending money on glitzy brochures & advertising without results?
- Your sales manager supervises the marketing efforts?
- Blasting marketing dollars because it just might work?
- Customers come and go?
If Yes, You May Be Using Shotgun Marketing.
From my perspective, niche marketing has proved to be a far more reliable alternative with more focused results. Niche marketing matches the benefit of the product/service to specific customer’s perceived value of the product/service. It matches what the customer wants, likes and needs with the product/service instead of trying to change the customer to fit the product/service. Not every customer is a good customer and I believe customers should be chosen based on their value to the business and the business’ ability to deliver genuine value to the customer.
Skills in customer profiling, targeting, market sizing, profitability analysis and feasibility are key elements in niche marketing. After you research the market, customers and products, you can deliver a better value to customers and a better bottom line to your company. You can manage for profits instead of just sales volume and make sound decisions regarding company growth.
