The Three Golden Rules of Niche Marketing
Michael E. Porter, a professor at the Harvard Business School, is considered the leading authority on competitive advantage theory. According to his work, one of the most important strategies in business is focus strategy, and niche marketing is one of the most important focus strategies there is.
‘Niche marketing’ is a phrase one hears a lot in business circles these days, but sometimes it can be a little confusing to figure out what niche marketing actually is, and how it can best be used to build a business. The phrase refers to targeted advertising, and it makes sense that it’s a fairly widespread practice. An automobile manufacturer, for example, has different target audiences for its different kinds of vehicles. The high-end, luxury sedans aren’t aimed at suburban soccer moms, just as the heavy-duty pick-up trucks aren’t aimed at the suit-and-tie-wearing professionals. Accordingly, marketing for each of these types of vehicles is very distinct.
Carefully targeted marketing is very popular these days, and is regarded as the most efficient, and cost-effective, method of making sure your product or service connects with the right people. Going niche is far preferable to going broad. Being as specific as possible is an incredible asset, especially in an economy like today’s.
It’s one of the reasons we expanded in 2009, to open the CSP International Business Training Academy to all stagers around the world. After honing my own skills as a property stager, I saw a niche not being addressed in the marketplace – that of a credential with merit married with sales, marketing and business skills required for successful enterprises. We have trained thousands to start from where ever they are in their business and move to profitability. Regardless of how the housing market is doing, people are always going to be selling property, and so those people will always need the strongest competitive edge to do so. The people who complete the CSP program have unique skills and expertise to offer, and there is an established track record that shows on the bottom line to property sellers.
Entrepeneur.com has a list of its “3 Rules for Niche Marketing”, and I can proudly and honestly say CSP International™ adheres to all of its rules. Firstly, we meet a unique need: A well-staged, move-in ready property is demonstrably more likely to be purchased one which is unstaged and disorganized. Our target demographics are real estate professionals and property-sellers, and as I mentioned, it is a market which will never dwindle. As long as there are determined sellers who seek to optimize their property’s sellability, there will be market for highly skilled certified staging professionals.
Secondly, the people we train know to say the right thing. CSP International is proud to have proven successful staging business owners as certified trainers who are constantly in the field; we know and teach exceptional communication skills; knowing what to say is one thing but delivering the message without offending the client is a totally different skill set.
Finally, we are successful because we constantly test-market. We keep an eye on the real estate industry, keeping tabs on what does and doesn’t work. This is a constantly evolving industry: staging and décor are two different things and techniques for the targeted lifestyle selling we teach ensures that a property doesn’t get left behind
CSP International Business Training Academy provides a niche service in that we serve all stagers who have a desire to achieve top skills to excel in a growing industry. Within the discipline of real estate staging are a myriad of complex specialty niches which we have also developed a market for. We know it isn’t for everyone; what matters is that some people care enough to want the very best and those people find us and appreciate us. Contact us today if you want to learn skills to take you to untold heights!