Niche Marketing Targets the Right Customer

The essence of niche marketing is to create anattributes with a raw score of 1-10. Rank the raw
intimate partnership with a market segment that isscores by importance with a weight of 1-5. Calculate
under-served or not served at all. The entrepreneurthe total score for the customer. Do this ranking for
provides a carefully crafted solution to this customerall your customers; this will allow you to create a
segment, but only after intense research and testing.stacked ranking of your customers from best to
Through this special relationship the customer getsworst. When my clients have done this ranking, some
what want and, in return, the entrepreneur getsof their customers scored very high, while other
customer loyalty and higher profits. And little, if any,customers may scored very low.
competition.The question then becomes how can you raise the
But, this niche market success is dependent on thescore of the low ranking customers? Maybe you can
right mix of customers. So, what does the "best"raise their prices. Or, how soon can you replace them
customer look like? One way to determine whichwith customers which better fit you and your
customer/s are best is by creating that I call thebusiness? Why exhaust your resources trying to
"preferred customer profile". Create a list of theserve customers that don't pay their bills on time,
criteria that are most important to you and yourthat are difficult to work with, or don't fit with your
business. That list might include:o proximity to yourfuture product plans.
office or shopo pays bills on timeo easy to doFocus your energies on your high scoring customers.
business witho future need for your product orDirect your marketing efforts and new business
serviceo profito fun relationshipo size of customerodevelopment on finding new customers that fit your
industry or verticalpreferred customer profile.
Rank your current customers based on theseLife is short.