If you are a business owner, should you focus on finding a small niche market that you can dominate or should you focus on building up your brand online? Both methods are parts of brand building, but it all depends on the cost and size involved on how far you would like to take it. Branding your business online is part of the internet marketing mix.
If you are interested in focusing on building your brand online, it can take a lot of money and time to build it up. Brands overall are very important if you are interested in selling your services and products to a broad market online. Branding helps you find and win new customers and keep existing ones.
Interested in building a brand similar to Amazon? If you are, prepare to invest millions of rands in building up your brand before you start marketing to a broad audience. The advantage of building your brand online is that it can take on a life of its own that could take on a snowball effect.
Tap into an existing marketing
With internet marketing, niche marketing is a great way that you can tap into an existing niche to market your business, products and services. With niche marketing you can focus on a small market and branding this way is costing much lower because it’s easier to achieve results.
In my opinion, big isn’t always better – especially if it comes to internet marketing. A smaller business that focuses on a niche market is much better and knowledgeable in the specific market that it targets. Communication is to the point and specific. Services and products are usually developed with specific features focused on the needs of the audience that you target.
Even though focusing on a niche market is good, this doesn’t mean lower potential sales. The goal on marketing to a smaller market is to gain a market share by having specialised services and products.
