By: Donald Smith
The other day I was perusing articles when I saw one about an upstart British brewer called BrewDog, who is going to be opening its first U.S. brewery in Columbus, Ohio. What was interesting was its marketing strategy. The brewery says it avoids targeting consumers based of demographics or markets because it believes the strategy is “outdated.” Instead, it will implement a strategy where digital and social media as well as traditional public relations materials will be paramount.
While studying for my minor in marketing it was drilled into my head to always target markets via demographics. This could also be called rifle theory, because it is more effective to build a strong relationship with a specific audience rather than many weak relationships with many audiences. So, to hear this is almost blasphemous.
Although a little dated, an article from Inc. says that no one can successfully target everyone. An Op-Ed in Business News Daily also tells readers they will not be able to market successfully if their customer is everyone. Then an article from Entrepreneur advises businesses to go deeper than target market to find a niche market, which is classified as the most profitable and impactful of the target market.
Here are some tips for finding a niche market courtesy of Entrepreneur:
- Have a consistent and clear direction for your business.
- Execute communication that attracts the not just any client, but the right
- Create a bolstering amount of reference in an area to give you a position as the authority.
- Implement a pricing model based on the value you create for the client.
- Lastly, create an impactful relationship with every client.
However, BrewDog is doing something right to have grown from two staffers to 850 staffers operating 44 bars around the globe, not to mention having its products sold in 55 countries since 2007. We will have to keep an eye and see what where it goes from here.