10 Ways of specializing your business
One very important way for a business to succeed it to specialize. It involves finding a niche in which the people that need something specific meet with what you offer.
- Geographically: Area, climate, population size or any other proximity to your customer’s premises
- Demographically: Age, education, ethnicity, income, marital status, household composition, gender, stage of family cycle
- Occupationally: Industry, trade, or profession
- Behaviorally: Attitudes, benefits that appeal, buying patterns, product use and frequency
- Psychographically: Lifestyles, motivations, personality characteristics
- When you work: Nights, on short notice, weekends, holidays, weddings, life events
- The problem you solve: Cash flow, customer retention, employee turnover, health and entertaining service
- How you work: Face to face, via email, by phone, in online seminars, in print
- Type of client: Small business, individual, schools affiliate
- Pricing: Premium, bargain or value
In other words people will want your business if you are near and they feel like they belong. When it helps them with a problem in their work and it is readily available with frequency.
It is important for people to feel understood and be able to access the products that you offer at their convenience.
Look at your product or service and find the ways in which it is specific to a group of people. Once you identify that you will be able to develop a better targeted marketing.