Have you ever noticed how the major fast food restaurants seem to cluster in certain parts of your town / city? It happens for the same reason that theatres cluster on Broadway, New York, and the same reason that trading and financial services cluster in London’s Square Mile.
It’s not because they’re lonely.
It’s because they’re following a proven business strategy.
Clusters create crowds
Once a location becomes well-known for a certain product or service, prospective customers looking for that ‘thing’ will head there.
This means a business moving into that location will open their doors on day one, knowing there will be crowds. Crowds they can potentially attract a subset of and convert into customers.
If that business is savvy, they will provide a uniquely valuable version of what the others offer. Something a section of the crowds desire, but can only get from them. This provides them with their very own corner of the market. It’s a strategy that works extremely well.
Before you assume this strategy is of little or no relevance to your business, think again.
Adapt and deploy
Look at the components behind that extremely successful strategy. When you do, you’ll discover something interesting and more importantly, potentially very useful to you and your business.
You’ll discover that you can adapt and deploy part of what makes that strategy work, into the online marketing of your own business.
How?
Be where your competitors are online. For example, be part of social media conversations around your industry, join industry forums, etc.
Offer something different from your competitors, which is uniquely valuable. So, when prospects find you, they can see you’re unlike the others. Every single one of the prospects, who wants the unique value that only your service provides, can only get it from you. Do this correctly and you will have created your very own corner of the market.
Not sure where to start? Don’t worry. This will help you. Plus, there are other examples you can use here.