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How A NICHE Market Strategy Approach Increases Sales

Written by: Leanne Hoagland-Smith

Article Overview: Much is written about having a niche to improve your selling success. A niche is a narrow target market where there are few competitors and allows you to be the Red Jacket in a Sea of Gray Suits. Use this acronym to help you strengthen your niche in your marketplace.

How A NICHE Market Strategy Approach Increases Sales

Much is written about having a niche. A niche is a narrow target market where there are few competitors and allows you to be the Red Jacket in a Sea of Gray Suits. How you develop the appropriate market strategy is sometimes difficult. Possibly using this acronym may help you to increase sales.

Need – There must exist a specific need because without a need you cannot demonstrate the value that your products or services bring to the potential customer (a.k.a. prospect). Needs are different between potential clients and even in market places. Presuming that the same issues exist in customers within all markets is a fatal sales behavior that will most definitely not get you to where you wish to be.

Interest – You and your products or services must create interest. How you do this usually begins with who you are as an individual. Do you have a compelling personal story that you can marry to what you do as that sales professional or small business owner? Today's marketplace is far more about relationship selling than ever before. Unless those specific individuals within your niche find you interesting and are willing to invest their time in learning more about you, you will never have the opportunity to earn their business.

Communicate – How well you communicate your message within your niche market strategy can either make or break your ability to earn that transaction. Your messages from your marketing material to what you say when you meet your potential customer must communicate that you are:

• Authentic
• Someone to be trusted
• Knowledgeable
• Professional
• Helpful
• Focused on the other person first and not yourself
• Likeable
• Engaging

Habits – Your sales approach is really your daily sales skills reflected through your sales behaviors. Are you consistently making those necessary contacts? Are you keeping abreast of the trends and conditions in your marketplace? Do you follow up on every single sales lead? Sales Coaching Tip: According to business and market research, leads get cold in one hour and almost 50% of all leads are left withering on the vine to dine.

Execution – Unless you can execute your sales approach flawlessly within your niche target market, your likelihood for success has been dramatically diminished. Coach Vincent Lombardi believed in flawless execution and that practice makes perfect. His belief allowed his team to have only 5 offensive running plays that every opposing team knew. However, due to flawless execution, the Green Bay Packers continued to win under this incredible coach.

When you understand the importance of a niche market strategy and use these 5 key words of Need, Internet, Communicate, Habits and Execution, you can potentially increase sales and work a whole heck of a lot smarter and not harder.

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Article Tags: acronym, gray suits, li li, likeable, market strategy, marketing, marketplace, narrow target market, nbsp, niche market, personal story, red jacket, relationship, sales approach, small business owner



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