From Niche Marketing to Fragmentation
From Niche Marketing to Fragmentation© Copyright 2005 Stephen Pierce
Think about something Bill Cosby said and ask yourself
"how does this apply to your current marketing. Cosby
stated ¡°I don¡¯t know the key to success, but the key
to failure is trying to please everyone."
Are you trying to be everything to everybody? Are you
even trying to be one specific thing to everybody?
Re-examine your marketing strategy and trim the fat and
focus on very specific niche markets. Heck, go even further
than niche marketing and fragment that niche to micro
levels.
For example there are two broad markets that relate to some
of our offerings. They are "investors" and "traders". These are
two very different and distinct groups of people which
approach stocks and futures trading completely different.
So we go to the internal niche markets of "traders" and look
at "stock traders", "futures & commodity traders", and
"forex traders".
In fragmenting these markets we go on a micro level to create
multiple opportunities such as "stock day traders", "emini
stock day traders", "futures day traders", "index futures day
traders". How about options trading? You have "stock options
traders", "futures options traders" and "forex options
traders."
The needs, wants, desired, must haves, should haves, etc of
each fragmented group are different.
While they all want to make money in how they trade, why
they trade and what they trade¡ getting to the output
requires different input and processes.
By understanding this and marketing accordingly, you can
more strategically and intelligently build up monster profits as
you cater to the specific customized needs for each fragment.
Take a look at your market? Are you targeting a niche right
now? If not, what are the possible niches within the broader
market you are targeting? If you are targeting a niche, what
are the possible fragments of that niche?
For example, many would consider Gardening to be a niche.
Inside this niche you have "kinds of gardens", like the
popular Japanese Garden.
However, when fragmenting the Japanese Garden down on a
micro level, you have "tea gardens", "rock gardens" and even
"water gardens" which all represent "kinds of" Japanese
Gardens.
A quick look at these different kinds of Japanese Gardens will
reveal that, while they do have needs that are similar, they
have many needs that differ.
What other kinds of Gardens are there? How about "Organic
Gardens"? How about a "Vegetable Garden"? What about
Plants? How many different kinds of plants are there that
people grow in their gardens? How could these possibly be
fragmented? Perhaps "Roses" and "Tulips" could represent
fragments.
How about "Indoor Garden", "Outdoor Garden" or "Garden
Furniture" as some other quick examples for possible
fragments?
Make sure you discover the power of going beyond the niche
market and into fragmenting those niches into even smaller,
more specific and specialized pieces to sure up even greater
profits from stronger micro positioning.
Look to dominate fragments which can lead to dominance in
the niche. Sure, you will end up with fewer clients and
customers on a fragmented level. However, these will be
better clients and customers... and when it comes to
fragmented marketing less is more when then are loyal.
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Stephen Pierce provides strategies that make growing profits in your business a fast reality. Learn how to get Marketing Momentum for real business success. To receive your free online video coaching visit:
Visit Stephen's site.
posted by John Mericle M.D. D.A.B.R. @ 6:15 PM
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