Roger is the Founder at Enfusen. He was #40 on Entrepreneur Magazines Most Influential Digital Marketers in 2016. His past companies have made INC Magazines Fastest Growing Companies in 2011, 2012, & 2013.
What is a Niche Market and Why is it Important to Find?
Many people think that running a successful business requires only focus on your products and services. While this helps, you also need to establish and reach your niche market. But what does the term ‘niche market’ actually mean?
Put simply, this is the specific demographic that your products, services, and even your marketing plan will attempt to win over. Smart marketing objectives will focus on an area, group, or idea and work to improve it through reaching these goals and objectives. The sooner you know what (who) your niche market is, the better off you are.
When you find this market and decide how to best reach them, you’ll begin to grow your online business. This can be done in a variety of ways, but it won’t happen overnight. The most important thing you can learn and have is patience because true success will take time. There are plenty of things to take into consideration, but this post details five surefire ways to become successful online.
Growth does not always equate to complexity, but it does depend on setting and reaching relevant marketing plan objectives.
How Do Marketing Goals and Objectives Help?
When looking to grow your business and reach your niche marketing, creating marketing campaign goals is the first thing you should do. By having these to work with, you’ll know where to focus your attention and what you want to achieve. Remember: simply having these goals isn’t enough. You need to work toward them, too.
If you don’t know where to start or how to outline these goals, consider working with an SEO consultant or a marketing specialist. There’s no shame in admitting that while you’re passionate about what you’re doing, marketing is not your strong suit. That’s where the professionals come in.
In most cases, using a marketing grader is the first step in establishing smart marketing goals. This tool shows you the current status of your content, your business, and your online presence. It gives you the ability to see the results as they stand. But more importantly? You can look back at these initial results down the road and see how much progress you’ve made.
Marketing Goals and Objectives Examples – and How They Relate To Your Niche Market
Successful marketing strategies give you a way to keep track of your progress. This means more than simply seeing new customers and clients come in, or keeping them. It means more than more traffic on websites and blogs. It also means a return on investment (ROI). The more people you reach with successful campaigns, the more money you have the potential to make.
This is a good thing.
Don’t be afraid to listen to the advice of others, particularly if they are social media or SEO and marketing specialists. When establishing marketing objectives and strategies to serve your niche market, it takes work. Think long term, but also be prepared to think short term. That’s another facet of SMART goals; make the things you want to do with your business attainable, no matter what they are.
This starts in many cases with an inbound marketing funnel. Having a successful marketing funnel not only draws people in, but it keeps them focused. The more attention people pay, the better the outcome will be. This marketing funnel is only one of many marketing plan objectives examples, but it’s one of the most important.
Make a Marketing Plan Successful: Focus on Your Goals
Your niche market is the target of your marketing objectives – that isn’t up for debate. But who else is watching? In short, many people. You’ll have customers, clients, competitors, and even though outside your audience looking at your campaigns when things go right. Since this is true, creating a highly successful marketing strategy requires adapting to changing circumstances and scenarios.
Some common points to keep in mind while creating and implementing marketing plan objectives are as follows.
- Use your strengths.
- Use the tools at your disposal.
- Accept help from industry leaders.
- Pay attention to the changes in the market.
- Act when necessary.
Marketing campaign goals may be static in nature (wanting a certain result, setting a numerical goal) but the methods used to achieve them are not.
The following video explains how to find a niche market.
This is important in helping your business grow to its highest level of success by being specific, and focusing in on that space to make the most of it.
Highlights
- 1:04 One product, one service, one target audience.
- 2:22 A niche can help you grow in a more successful manner
- 4:05 Geographical, industry, or service niche.
Video Transcription
One of the most important things when it comes to creating a successful digital marketing agency is choosing a niche. A niche isn’t everyone and everything, but there are a couple of different paths that you can take or channels that you can take, and there’s a combination of different channels that will really help you be successful.
Let me start with the pretext of where I found success from a marketing agency perspective. When I started my agency in 2005, it was called National Charity Services. You can already tell where my space was going. We specifically offered one service to one type of client. We offered marketing for car donations using digital marketing … SEM, CEO, social media, content marketing, only to non-profits that accepted car donations, primarily Goodwill, Red Cross and the Salvation Army. By concentrating and that space, which is a 100 million dollar a year industry, at the time it was a billion-dollar a year industry, we were able to become the best that we could possibly be at that. We had one product, one service, one target audience. Year after year, as we worked on that, we built a reputation as being the go-to brokerage house for the marketing services related to car donations online. Now, that allowed us to expand into other services. Setting up a call center, actually processing, picking up and selling the donations, filing the tax documents that went with it, but it was all built on the backbone of offering one product or solution, one service, to one set of clients.
When we started Enfusen, we had one target audience.
We were working directly with Microsoft, selling only to Microsoft partners, and developing a data product that served their needs. Now, after two years of doing that, perfecting our pitch and getting our product to market in that channel, we then started expanding out into healthcare, into non-profits but, again, offering one primary service, which is a product or this data solution package software that helps people to do better sales and marketing activities inside their organization through the use of data. Again, we niched down and that’s what this video is about. It’s about picking your niche.
Thinking about a niche can really help you to grow in a more successful manner.
For those of you that are watching this video that, either are thinking about starting a digital marketing agency, have a digital marketing agency that’s struggling or have a digital marketing agency that’s being successful, and you’re trying to look at the next step, let’s talk a little bit about how thinking about a niche can really help you to grow in a more successful manner.
The best niches that we see people at the beginning stage either just getting started or struggling is to think local.
Think about your local market. A lot of times, in fact not a lot of times. Almost every time people underestimate the power of their local market, so we’re here in Akron, Ohio. It is, I think, the seventh-largest city in the State of Ohio. I can easily say that it’s too small of a market, but it’s not. We ran a competitive analysis of the market and we found that there are 90,000 businesses within 50 miles, which does not include Cleveland proper, 19,000 businesses that are potential clients of a local marketing agency.
Now, 90,000 is a ton. That’s a lifetime’s worth of opportunity if you were just to do the local market, but now let’s break that up a little bit.
When it comes to geographical location, that’s what I look at first. The second part of that would be, what industries do you want to serve? Do you want to serve dentists? Do you want to serve chiropractors? Could you serve both of them because you’re lead gen in that space? Could you do lead gen for HVAC? Roofing? Contractors? They are all kind of in the same space. There’s hundreds if not thousands of those different niches that you can go into. There’s a document that floats around on the internet that you can google. It’s called “Best SEO, Local Marketing Niches.” It outlines … Some people say there’s 19, some people say there’s 50, some people say that there’s 100. You only need to pick one to really get yourself started.
There’s a geographical niche. There’s an industry niche. The other side can be a service niche.
Now, you can use one, two, or three of those. I see agencies that only do SEO. I see agencies that only do SEM. Even inside the SEM space, I see agencies that only do Facebook marketing. It’s okay to only pick one of those things and concentrate on it until you become the best that you can possibly be, and then look for more opportunities. We do a lot of SEO work. It’s just where I’ve been in the industry for 17 years, but you can’t hire us to do SEO. We’re not good at it. I don’t want to try to be good at it.
There’s more than enough opportunity for people looking to buy our software, which leverages their opportunity from a data perspective in both sales and marketing activities, or once they get in and they look at the data, they’ll hire us to do SEO. Or help them optimize their CRM. Now, we didn’t set out to do those initial things. They are a byproduct of what we are the best in the world at. We are the best in the world at providing data solutions to people that are looking to do or improve sales and marketing activities. That can lead to additional opportunities for us to sell, but we’ve niched our self down into that specific service.
I invite you to do the same so that you can experience the highest level of success possible by focusing your energy, geographical location, industry-specific, service-specific.
Pick your niche. If you need help deciding on what a good niche is for you, feel free to leave a comment below this video, call the number on the screen or reach out to me directly. I’m happy to talk to you at any time in order to help you pick your niche and help you to build a more successful marketing agency. Now, my coffee mug says, “Have a nice day.” You’re going to love the picture on the bottom. Have a great day.
