Introduction
In the 21st century a
company without a niche is a company without a business. To stay profitable in
the new millennium, a successful company must develop and maintain access to a
large niche market. A well-positioned company with a properly targeted niche
group is capable of generating a new customer base, that can be sheltered from
their competitors,
Circle Marketing is a
new concept in niche marketing, It combines existing marketing methods such as;
direct mail, group marketing and special event marketing, with new innovative
marketing strategies such as; the Business Marketing Circle and e-commerce lead
source services.
A Business Marketing
Circle includes strategic marketing partners who want to reach the same-targeted
niche group. Each qualified business in the circle offers a one-of-a-kind
product or service to the network. This diverse circle of businesses allows them
to jointly market to the same customer base. Circle marketing allows businesses
to reach their niche market group again and again with different methods of
marketing. Thereby making the niche market group more familiar with the products
and services each member provides.
In a fast pace global marketplace a
company can’t afford to market to one customer at a time. Circle marketing
allows a company to use joint marketing efforts to locate new customers. Also,
business members who join the marketing circle will bring potential customers to
the circle. In addition to lowering the cost of advertising and promotions,
Circle Marketing will give all members of a circle access to the niche market
group that will allow them to achieve maximum separation from their competition.
GeoCities
is an example of a company that developed a niche community on the Internet that
sold for 2,5 billion dollars. It built an Internet community around people who
wanted to establish their own free web pages. GeoCities supplied the web
building software and the templates. The customers used their websites free in
exchange for allowing GeoCities advertisers to market to them.
Amazon.com built their
business on affiliate partners who referred book buyers to them from their
website in exchange for a referral fee on each book the referees purchased.
Amazon today is a 20 billion plus dollar business. The new economy is
full of other examples of companies who have turned a niche into a profitable
network.