As an MSP business owner or manager, you may feel like offering your goods and services to a large audience make for better revenue and a higher percentage in your bottom line, but this isn’t always the case. There are many benefits to catering to a select demographic that have specific needs that fit in with the products and services that you offer; by using a method called niche marketing, you can target a specific group of people with your marketing and enhance your potential customer base.
Benefits of Niche Marketing
Once you have determined the specific consumer group that you would like to market your products and services to, you’re going to find that the benefits that come along with it are unparalleled to others. Knowing and understanding your customer base helps in a number of different ways, including knowing where to start with determining future products, services, and projects. Some of the primary benefits of niche marketing are as follows:
- Narrowing your audience to a specific group lowers the percentage of your competition
- Creating a narrow approach that allows you to match your products and services to set individuals and their needs.
- Personalized communications that appeal to your demographic
- The ability to charge more and increase your bottom line
Steps to Successfully Target an Audience
When it comes to marketing for your MSP business, online presence isn’t the only key. While using your social media and other online platforms to attract customers to your niche is known to be incredibly successful, there is far more to it that you’ll need to understand in order to make the most out of your marketing campaign.
- Understand Your Market – Identifying your market, instead of looking towards other businesses to see what they are doing, is going to help you to target your niche. Using methods such as customer surveys and even a customer complaint line for your business are two ways that you can help to better understand your clients and what they’re looking for. Other ways to understand your market is to put yourself in their shoes. If you are making a purchase and that item breaks and needs to be repaired, who are you going to call?
- Meet Your Market’s Needs – Getting creative once you’ve targeted your specific audience is paramount when it comes to meeting their needs. Understanding your customers means that you can solve their problems. Use the information that you obtain from surveys and general client feedback to determine exactly what they need and then prioritize it.
- Post Where Your Niche Sees It – Identify the channels that your consumers use most frequently and post your content there. For example, if your customers are consistently active on Twitter, ensure that your business has an active Twitter account where you can market your goods.
- Test Your Market – Once you have planned out your marketing strategy and key audience, it’s important that you put it to the test. Directly testing out your theories allows you to identify anything in your plan that doesn’t work before you go live. Testing your market also allows you to change up your approach if you’re noticing it isn’t working.
Marketing your MSP business is something that takes a lot of time and effort. Niche marketing in itself is a great way for your company to isolate set customers who are consistently interested in the products and services that you provide and could potentially be a loyal and devoted client base. Your time is valuable and so is theirs. Measure what works and be productive. Understand what is important to your business and to your customers and use niche marketing measures to steer you towards the consumers who have a specific need for your product.