Whether you sell great timeshares, great steaks or great shoes, look to niche markets for fresh business. Your key to capitalizing on this profitable strategy? Find the right niche, send the right message and keep those new customers coming back. Read on to find out how.
Explore new list sources: Who are the perfect customers you’re aiming to target—Hispanic homeowners? Retired renters? New parents who just moved? No matter which slice of the demographic pie you’re aiming for, it’s time to break out of the same old mass mailing mode. The right data marketing firm can pull specifically targeted data from multi-sourced lists. All you need is the right request and the right data partner, and you’ll find the right targets.
Customize your message: When approaching a new market niche, it’s imperative to speak their language. In other words, you should understand the market’s “hot buttons” and be prepared to communicate with the target group as an understanding member–not an outsider.
When it comes to customization, technology is on your side. Variable Data Printing (VDP) allows you to change text, graphics and images from one printed piece to the next without stopping or slowing down the printing process, using information from a database or external file. For example, a set of personalized letters, each with the same basic layout, can be printed with a different name and address on each letter. You can even use VDP to customize the messages from postcard to postcard, by updating a single field in your database.
Test, test and test again: Before you roll out a niche campaign, make sure you’ve found the right target market. Examine your market for any competition; examine and compare your business offers to the market’s existing offers; gauge the size of the market and whether it already has too much penetration. Then, make sure to test your offers carefully and optimize every campaign. If you learn the landscape and move carefully, your niche just might turn into a pot of gold.
Source: Reprinted from AccuTips, 4th Quarter, 2007 Newsletter.