The Strategy For Companies That Sell In Niche Markets

A niche business is based on the fact that it sells a solution to a small group of companies or people who have specific and often complex needs or desires , therefore they look for specialized solution providers capable of meeting their expectations. Some examples of industries are technology and consulting solutions, logistics, B2B financial services, renewable energy, some real estate, and education. Do you consider yourself to be in a niche business? If so, in this article we will delve into the main challenge and how to achieve constant growth.

Why attracting clients in niche companies is a great challenge today? Talking recently with CEOs and commercial directors of this type of company, I have learned that although selling to a niche market and specialization provide competitive advantages for the company, they face a great challenge to gain market share, which I express in the words of one from them: “The great challenge that we have in sales today is to reach specific people who have a need at a certain time (that we can solve).” Delving into the commentary and conversations with these managers we can break down the following.

How To Know If The Prospect Is Looking

Challenges for marketing and sales teams to solve the problem that we solve. Beyond obtaining contact information (which in itself is a challenge) the switzerland phone number marketing and sales strategy must allow us to understand at what stage of your purchase process you are. Long sales cycles and differentiate the value of our solution . If our sales process is not aligned with the purchase decision process, consultants or specialist salespeople spend a lot of time chasing prospects, instead of focusing on those with the greatest purchase intention.

switzerland phone number
switzerland phone number

In niche businesses, we can define that they have a complex sales process. Since the purchase decision process that the prospect follows is: I have a complex need I investigate the problem Analyze and compare solution options I’m requesting information I evaluate advantages and disadvantages Make a decision Let’s put ourselves in our buyer’s role, we have more and more information at hand, we can find out about different solution providers in less time and with less effort. So for marketing and sales teams, generating qualified leads and converting them into customers is becoming increasingly difficult.

The Buyer Is Increasingly Empowered

Disruptive Sales and Marketing In a context where the buyer is increasingly empowered with information. Interruption marketing and sales actions , such as radio, television, billboard ads, as well as cold calls and mailings. They are less and less effective. We are not only talking about traditional marketing, digital marketing tactics such. YouTube and Facebook ads, newsletters and electronic mailings without personalization, they can also be ineffective when in this interruption, we seek only to sell or base our communication on ourselves, instead of adding value to person.

When was the last time you enjoyed a commercial? Or what did you buy on a cold call? Events, expos and fairs are a great opportunity to add value and attract specific people. However, to increase sales, the company must constantly generate new opportunities and the event has a defined frequency, in addition, the cost of acquiring a client is usually high. To make this investment more effective, the marketing strategy must consider an adequate management of the contact base and a process to nurture potential clients .

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