Run time: 54 seconds
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Do you need to niche or could you just target your audience?
Let’s start by distinguishing between the two:
With targeting, you focus your marketing budget, campaigns and materials on specific segments. By prioritising and allocating resources where your best business opportunities are, you will make a greater impact with your messaging and you’re more likely to get a better return on investment than non-targeted marketing.
With niching, you’re focusing on one segment. You might specialise or work exclusively with them. The benefit is, you get to know them really well as your work becomes very efficient and it’s easy to be well known by that segment.
However, it can feel really risky, particularly at the start. So, we recommend testing some market segments with some targeted marketing. If you gain traction and it becomes a viable business choice, then commit and consider niching at that point.
Next week we’ll unlock the key to Magnetic Customer Attraction with your marketing.
Resources
How to attract your ideal customers
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