The December 2008 cover story of Mergers and Acquisitions focuses on the need for companies to define a niche in order to succeed in today’s marketplace. Defining a niche is essential for developing a strong brand identity, and is a key pillar for business success. This is particularly true in a crowded marketplace where multiple small to mid sized companies are sometimes seen as providing commodity services. In the middle market space for example, there are a lot of very smart accountants, lawyers, investment bankers, private investors and other business advisors that can finance a deal or execute a transaction, perhaps some better than others. But the point is, how can one firm differentiate itself from another so when the right deal comes along, they will be invited to the dance?
People like to put people in pockets, so putting a stake in the ground to claim your space is essential for positioning your company’s expertise in a crowded market. Identifying your particular focus, area of expertise, value add or proprietary process is only part of the equation. Communicating your niche (or in a broader sense your brand identity) to the marketplace in a clear, concise way is equally as important. This is most effectively done through multi-level marketing campaigns in which multiple programs work together to deliver compelling content and consistent messages to key audiences simultaneously. A traditional multi-level marketing campaign might include: public or investor relations, speaking engagements, email campaigns, trade shows, sponsorships, etc. Other more unique multi-level programs can be developed based upon your specific niche. In today’s challenging business environment, standing out from the crowd and claiming your space is more essential than ever. Companies that define their niche and broadcast it to the marketplace are more likely to improve their sales process by increasing their visibility and awareness in their marketplace and generating qualified leads.
