Feb01

How to Build A Narrow Niche Brand to Widen Your Opportunity

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Before the Internet, things were different. We didn’t realize it but we were confined by geography. Geography organized us into narrow niches. People found us by proximity. The limits of transportation were the niche boundaries. We put our stores at the corner of State and Main where the traffic would be sure to see us.

But the Internet blew those niches apart. People no longer need to walk, drive, or take a bus pass the corner of State and Main. We’re now competing with businesses and attracting customers from Alabama to Zimbabwe. Without the geography to define us, we look like everyone else who does what we do.

Those geographic niche that focused and limited our market gave us an advantage. We could be “the only” or “the best” book store in town. But now “the town” is the world. Were unlikely to be the only book store. Who’s to decide what’s “the best” book store? The way to stand out at the new State and Main — the front page of Google — is to replace that old narrow geographic niche with a new one. A narrow niche takes back that one-of-a-kind wider opportunity.

Why Customers Love Narrow Niche-Brand Marketers

Narrowing your niche is about quality over quantity. As you narrow in on a smaller group of people to serve, the job of serving that group becomes easier. We see the same problems played out over a variety of situations, so we get to become expert on those problems. We can design our work and our place of business to better serve them. They recognize that we know what makes them tick.

Nothing beats that.
Here’s how to build a narrow niche brand.

  • Define a niche for your business. Choose a niche you truly care about. Find a place to stand. Don’t try to be all things to all people. Do one or two things that play to your strengths and passions. Do those things better than anyone else.
  • Find out everything about the customers in your chosen niche. First and foremost, make sure that said customers exist. Then don’t just get information. Fall in love with everyone of them. Figure out how to crawl into their skin and feel their pain. Know their loves and their wishes. Find their needs and desires. Learn to read what they’re not saying.
  • Define your brand through your customers’ world view. In reality, you don’t define your brand, your customers do. When you understand your customers intimately, find a way to state your brand–what you and your customers stand for–in less than one sentence. Write those words everywhere your customer will see your name, your blog’s name, or your business name. Let them know you mean it.
  • Use your brand to test every decision you make–large or small. Be your brand. Live it. Make your brand show in every detail, every action, every move you make. If you live your brand, and test every decision against it by asking, Will this help my customers see my brand? your customers are more likely to buy into the brand you’ve chosen on their behalf.
  • Be authentic; never skimp on quality; never go against your brand; and you will set the standard. You won’t just be different; you will be unique, irreplaceable. Authenticity cannot be “knocked off and done more cheaply.” Attempts to copy you will only be poor facsimiles. Quality and authenticity are the birthplace of brand loyalty. Customers will know where to find the real thing. Once they find it. They stick with it.
  • When your customers recognize that you care about their needs, value the relationship that you have with them. Relationships will always be everything in any human endeavor. Relationships are the connections that build our businesses.
  • Never lose sight of the fact that you and those you serve are people. Businesses serve people — not users, not clients, not eyeballs, not numbers — but people with thoughts, feelings, and ideas that make our businesses better. Talk to them one person at a time. Listen to them the same way. When we find someone who tries to solve our problems and who values us. We’ll go out of our way to do business with you. It’s just not that often that we get that kind of service.

That’s how small niche-brand marketers get to be great niche marketers one customer at a time. That’s how to make relationships with other really great people.

We think that people who think the same way we do are smarter than other people. So when you choose a niche that we care about, we think that you’re highly intelligent. We trust your judgment in other things too.

We are a fascinating species. When we don’t know where to go, we’ll go where everyone else goes. But give us a meaningful reason to come to you, and you’ve made a customer–a reader–possibly a friend forever.

How will you narrow your niche to widen your opportunity?

Be irresistible.

Liz

Jan13

He Was a Leader Until … He Wasn’t

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Do the Mighty Ones Have to Crash and Burn?

The bigger they are, the harder they fall … what makes them that way?

We’ve all the rise and fall of “that guy.” He was intelligent, savvy, and a leader in anyone’s book. He also cared about things like integrity. People invested in him with their hearts, mind, time, and money. He was a great leader until … he wasn’t. At some point it quit being about the cause and became about him.

The rise and fall story isn’t always about a “he.” Many a mighty “she” has made the same fall.

What Happens When the Mighty Fall?

According to the Harvard Business Review, 2 out of 5 new CEOs fail in their first 18 months on the job. It appears that the major reason for the failure has nothing to do with competence, or knowledge, or experience, but rather with hubris and ego and a leadership style out of touch with modern times.

Why is this leadership crisis happening? One reason may be the gaps between how leaders see themselves and how others see them. –Why Do CEOs Fail and What Can We Do about it? Psychology Today

Jim Collins, author of the bestselling books, “Good to Great” and “Built to Last” is a knowledgeable compelling speaker who offers the learning from thousands of hours of research on the best companies and what separated them from the “almost best.”
If you’ve read Collins’ books, you know that leaders of great companies are humble, willing to do the hard work, and willing to make the unpopular, painful decisions to do whatever it takes to support the cause of the business.

Collins pointed to five stages of decline in a great business. The same five stages also could be named the state of decline in individual leadership career.

  • Hubris born of success – the belief that the business or the leader can’t fail; the arrogance of acting as if all of our decisions are good.
  • Undisciplined pursuit of more – too much growth, too much adventure, too much big risk.
  • Denial of Risk and Peril – disregard for warning signs or reality checks.
  • Grasping for Salvation — when things begin to crumble, rather than going back to discipline, the leader looks for a savior. He or she wants someone to put things back – to fix what went wrong.
  • Irrelevance – the business or the leader bites the dust. No cares what happens to them.

Leaders are people who want to build something they cannot build alone.
The sheer ability to be mission critical to a bigger mission than oneself is at the core of leadership.

It’s good to celebrate success, to claim our rewards and leverage them. It’s even better to understand how much of our success is dependent on skills and influence of those around us. Choosing people who hold us to our best values is important. Doing that for ourselves is characteristic of leadership.

How do you know when a leader has lost sight of his or her best leadership?

Be irresistible.

Liz

Jan07

How to Get the Folks Who Love You Telling Your Story

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It’s always confused me.
Why is it that we ignore the people who love us while we go chasing after the people who ignore us?
That’s not great strategy.

Look right next to you.
People with your values, who value what you do, are investing in you and your business. They have a unique point of view. They can see what you do from outside the system and they’re already on your team.

You can’t be inside a system and outside at the same.

Don’t overlook that rich resource.
Build on it.
Let those people be smart for you.
Ask them what see.
Invite their ideas.
Give them a reason to talk about you!

I’ll be talking about this in the Learning Lounge at the PCMA National Convention this week.

Be irresistible.