Small businesses need to identify their niche if they want to win

New Ideas in MarketingEssential news for marketers, summarised by YouGov
November 26, 2021, 2:30 PM UTC

Small businesses must determine what sets them apart in the market and then market their USP to their audiences.

Identifying the USP is crucial for the brand to stand out among the competition and keep them from simply copying what other businesses do. While it is essential for small businesses to find their niche, they must also keep track of their competitors.

This helps brands learn from others’ mistakes and gain insights on how to perform better. Instead of targeting a large market, small businesses may benefit more by catering to specific demographics and tending to their needs.

Through buyer personas and profiles or ideal customers, brands can meet their prospects’ needs efficiently. At the same time, businesses must also focus on retaining existing customers. Marketers must create content their existing customer base enjoys and offer them exceptional customer service.

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