Mila Aliana is a global senior consultant and leader of 20 years, living and working in the US, Europe and Asia.
She has a wealth of business acumen and experiences within the corporate, entrepreneurial and world forum arenas. Amongst many others, she has provided her consultancy services at Barclays, Prudential, British Telecom amongst many others.
Mila’s consultancy services include strategic planning and execution of global transformational change projects, and business coaching and mentoring. She is also active in various global and UK not-for-profit initiatives, working and collaborating at Board and senior management levels.
On the entrepreneurial side, Mila has offered business coaching and mentoring to founders of small and medium sized businesses, specifically focussing for growth. This includes delivering similar services to global nonprofit's and UK government's entrepreneurial startup and growth programs. She has recently collaborated with University College of London's Centre for Advances as one of its business coaches (mentors) in a UK-wide government initiative for leaders and founders of small and medium sized enterprises with high growth ambitions.
Topic of Talk: How to find your unique niche in your target market
Is your business not making the money you expect for profitable growth on your product (service) despite all marketing efforts?
Are your (potential) customers spending money on your product (service) offering but only sporadically or not enough for sustainable growth?
Do your (potential) customers perceive your product or service as somewhat generic or anonymous to your other competitors?
Chances are that you have not identified a target market that is a money-making and high-growth niche.
What is a niche market?
The Chartered Institute of Marketing defines a niche market as: "A small and well-defined segment of the marketplace."
This target segment would be a particular smaller section of your wider target market that would have the highest potential for growth for your product or service. Instead of casting a wide net to market to everyone, niche marketing requires you to strategically zero in on a high concentration of a very specific set of targeted customers.
It sounds counterintuitive that by focusing on a specific and smaller market niche, you will be profitable and make more money. The key is to recognize high concentration of people that would be interested in you no matter what. Ignore the ones that are not or would take a lot of investment to get them interested.
Many studies and businesses have proven this niche market strategy to be true and most profitable. Becoming the go-to expert in a small pond rather than being a small fish in a big pond. This marketing strategy allows for higher visibility of your brand, product or service.
How do you find a niche market?
This talk will focus on finding your niche market, delivered in an interactive and engaging workshop with the audience's full participation.
You will walk a way with a practical framework and tool to find your market niche by learning about or revisiting these 3 key areas:
1. Your Target Market
Growth is found in targeting and identifying a specific segment of your current target market. Traditionally, this is known as market segmentation. In the newest marketing lingo, it is redefined as "demand landscape mapping." The biggest mistake that most business owners do is to stop their search for a niche too soon when doing this exercise.
2. Your Customer's Profile and Journey
Within a "demand landscape mapping" exercise, a niche market may be found in the intersection of customers' wants, trends, and frustrations.
In essence, you'll need to understand at a deeper level your niche market's customer profile and their journey to buying your product or service as well as retaining them for continued growth.
This will give you a richness of information on your targeted niche customers. It will allow you to identify your customer's channels of communications or venues, online and offline, and their specific "language" in interactive communications. Additionally, it will give you insights to who are your potential customers and what would make you unique to your niche market.
Consequently, it will enable you to develop your niche marketing plan for sustainable growth.
3. How to Find Your Unique and Profitable Niche
Armed with insightful and rich information of your niche customers, you will explore where there is a potential high demand for your market, low competition, and the highest income potential.
The most profitable is the intersection of a target market segment that have either 2 or 3 of these characteristics.
You will also learn latest insights and tips to identifying, testing and implementing your niche market for increased growth.
This talk was originally scheduled for December 2016 and was postponed due to illness. We are pleased to have been able to reschedule it for May 2017.