An effective marketing strategy is essential if you want to "hold your own" in today's highly competitive landscape. However, the success or failure of your marketing efforts often comes down to one often overlooked and vital strategy - defining your niche market within your industry.

You need to know who you are and fully understand who your customers are.

Defining your niche can be the difference between establishing and growing a successful business or struggling out of the gate due to failure to establish a clear and unique identity in the crowded marketplace.

A strong foundation is the key to any successful business. It starts with defining your niche - playing to your strengths.

While a niche is (by definition) a smaller, more focused segment of the market, it can still be very profitable.

Identifying your market niche sets the stage from a marketing perspective. You can no longer enter the market and expect to catch everyone's attention. Very few organizations have the resources to compete with the big boys in their respective industries.

Defining your marketing niche helps identify core messages about who you are and what your company does.

Defining your niche(s) allows you to create clarity about:

Who your customers are, what they need, what they want and the products and services you can provide.

How you are differentiated from other vendors. What's your value proposition?

Your brand image - how you are perceived in the industry and by your customers.

How to market your company. Which marketing, SEO and social media strategies are most appropriate for you.

Where to focus your budget and allocate resources in order to maximize ROI.

For more information on defining your marketing niche and differentiating factors, navigate over to WhiteSpace at www.whitespace.on.ca/blog and read Does Your Business Website Communicate Your Unique Value?

http://www.whitespace.on.ca/Blog/bid/100566/Does-Your-Business-Website-Comm...

Identifying your niche is an exercise in not only better understanding who you are and what your company name represents, it also helps to identify what you are not and how you are different from competitors.

Ask yourself these questions.

What is my target market?
What is my area of expertise?
What do I enjoy doing? What do I not enjoy? How is this applicable to the products and services my business offers?
What do we offer? What do we not offer?
What are my personal values? How are they reflected in my organization?
Who values my products and services?
Who are my competitors? What makes me different from them?
Why should customers choose me over others?
How do I want to be perceived?
What "extras" or "value adds" does my business offer?

Accurately identifying your niche provides you with the information you need to create content and messaging that speaks directly to your target audience.

You will clearly understand . . .

Who you are

What you offer

Who

Visit us at www.whitespace.on.ca/blog. Just register for one of our free marketing ebooks and answer YES, when we ask if you'd like a free evaluation.

Or . . . just give us a call at 416-449-9559. We're always happy to help.

Drop us an email. Give us a call. We'll be pleased to help.

murray@whitespace.on.ca

penny@whitespace.on.ca

www.whitespace.on.ca

416-449-9559