The value of targeting a Niche
The most frequent struggle I face when I work with clients is helping them to focus upon a niche market which to target.
For some strange reason, my clients seem to harbor the belief that if they narrow their focus, they'll miss out on sales. Nothing could be further from the truth.
A current example of the value of targeting a niche market would be the upcoming Super Bowl.
Because I live in Southern Florida (about 2 hours away from Dolphin Stadium) I've been seeing merchandise promoting Super Bowl XLI since early December. At our local supermarket, they had the bright orange and teal shirts displayed right along side the seasonal Christmas items. However, I don't see a lot of people wearing those brightly colored shirts. What I do see are dozens of Colts and Bears fans wearing shirts to proclaim their team alliances. I do see homes with signs in front proclaiming that a Bears fan (or a Colts fan) live here.
See, targeting "NFL fans" may SOUND like a good target market, but it really isn't. There are still the same piles of shirts on display at the market that were there the first week of December. Few people are hyped about the Super Bowl, but there are a lot of people who are hyped that THEIR TEAM is playing in the Super Bowl. See the difference?
After all, my friends from Boston who are football fans aren't exactly in the mood to celebrate this week. They are definitely NFL fans, but they are definitely not in the mood to celebrate. They aren't buying gear, they aren't flying to Miami.....they probably aren't even going to watch the game on Sunday.
Targeting NFL fans is too broad. Instead, if you target "Bears fans" or "Colts fans" then you're targeting a niche market.
The problem most people have is they try to define their target too loosely. Super Bowl XLI may sound tightly targeted, but it's not. There's a difference between tightly targeted and a narrow window of opportunity. Targeting Super Bowl XLI is a narrow window of opportunity. Targeting Colts fans or Bears fans is the opportunity to sell them gear to show their love of their team.... THAT is a narrow target. Sure, you won't sell much to NFL fans in Boston.... but you're going to CLEAN UP in Indianapolis!
For some strange reason, my clients seem to harbor the belief that if they narrow their focus, they'll miss out on sales. Nothing could be further from the truth.
A current example of the value of targeting a niche market would be the upcoming Super Bowl.
Because I live in Southern Florida (about 2 hours away from Dolphin Stadium) I've been seeing merchandise promoting Super Bowl XLI since early December. At our local supermarket, they had the bright orange and teal shirts displayed right along side the seasonal Christmas items. However, I don't see a lot of people wearing those brightly colored shirts. What I do see are dozens of Colts and Bears fans wearing shirts to proclaim their team alliances. I do see homes with signs in front proclaiming that a Bears fan (or a Colts fan) live here.
See, targeting "NFL fans" may SOUND like a good target market, but it really isn't. There are still the same piles of shirts on display at the market that were there the first week of December. Few people are hyped about the Super Bowl, but there are a lot of people who are hyped that THEIR TEAM is playing in the Super Bowl. See the difference?
After all, my friends from Boston who are football fans aren't exactly in the mood to celebrate this week. They are definitely NFL fans, but they are definitely not in the mood to celebrate. They aren't buying gear, they aren't flying to Miami.....they probably aren't even going to watch the game on Sunday.
Targeting NFL fans is too broad. Instead, if you target "Bears fans" or "Colts fans" then you're targeting a niche market.
The problem most people have is they try to define their target too loosely. Super Bowl XLI may sound tightly targeted, but it's not. There's a difference between tightly targeted and a narrow window of opportunity. Targeting Super Bowl XLI is a narrow window of opportunity. Targeting Colts fans or Bears fans is the opportunity to sell them gear to show their love of their team.... THAT is a narrow target. Sure, you won't sell much to NFL fans in Boston.... but you're going to CLEAN UP in Indianapolis!
posted by Kathy at 1:13 PM
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