The New World of Marketing
I’ve had time these past 3 weeks to catch up on some of my reading, and have consumed the two newest Seth Godin books, Purple Cow and All Marketers are Liars, and re-read his groundbreaking Permission Marketing among other readings. I’ve been able to apply many of his concepts to my own consulting work these past years, and find myself inserting his tag lines into my own presentations.
For example, I was talking to a couple folks at Microsoft last week and sharing the concept of "flipping the funnel" to turn customers into advocates for a new product or service. The traditional marketing model has been turned into a commodity, and we’re essentially back to where we were prior to the industrial revolution, in that successful marketing is about building stronger relationships with fewer customers, not mass marketing. Where the box store meets the broad, generic needs of the masses, the niche merchant can tailor his or her service to the specific needs of a power user.
Which is what I am out there telling clients. I am working with a small company in Folsom, California called Glendale Leasing Services to grow and expand their business. Here is a commodity service — there are numerous companies offering these services in every major city — but this new business has decided to focus on its core competencies: gymnastics centers and their equipment providers. While not a massive industry, it is an area the owner knows well – he can share personal stories and experiences that will go far in helping him establish relationships with this niche market. Any leasing services company can offer programs to gymnasiums, but Glendale Leasing Services is the only firm that understands the intricacies of that particular business – and that’s a strong message to potential customers.
Focusing on a niche market you know well is a great way to start building a business.