An article by Missy Frederick on Bizjournals.com reveals how one organic grocer continues to succeed despite competing against giants like Whole Foods, Trader Joe’s, and Wal-Mart.
Gary Cha is the owner of Yes! Organic Market, which, according to Frederick’s article, has eight stores in Washington, D.C. Small loans have helped Cha grow and expand his business since he entered the organic foods market in 1989, but the real secret to his success seems to be his willingness to open new stores in emerging neighborhoods that big box grocers typically don’t find desirable.
The article should serve as food for thought (pun intended) for all owners and managers of smaller to mid-size businesses that struggle with competing against bigger competitors with well-known brands and wider reaches.
What niche markets might you be able to reach and build your business upon that your competition doesn’t see as particularly valuable? By tapping into markets that your larger competitors aren’t particularly interested in serving, you could very well see more success than you would by chasing after “ideal” accounts.
The trick to targeting niche markets is to know your company’s strengths and how to leverage those strengths in order to market and sell to each niche. Uncovering the right niche markets and developing and executing marketing and sales plans that will reach them can be time-consuming, but it can be much more productive than going after highly sought after accounts that you have only a small chance of winning.
If you are interested in tapping into niche markets, but don’t have the time and resources to determine which niche markets would be of the greatest value to your company, consider outsourcing your market research functions to a qualified third party like Vendere Partners. Vendere prospect managers gather valuable information from prospects every day in order to help executives and managers make the big-picture business decisions they need to make in order to grow their companies, empower their sales departments, and increase revenue.
In addition to outsourcing your company’s lead generation and lead qualification, scoring, and nurturing functions—the functions that will enable you to gather the market information you need—you may find it beneficial to outsource other functions in order to successfully launch and implement a niche-focused initiative. Review Vendere’s converged sales and marketing and sales outsourcing services to get an idea of the different types of functions you may wish to outsource.
At Vendere, it pains us when we see companies with great potential being stifled by their inability to handle sales and marketing functions in house that Vendere could help them achieve easily and cost-effectively. You can find the right niche markets to target. You can market and sell to them. And you can rely on Vendere. Contact us today for a free, no-obligation consultation.
To read the BizGournals.com article, click here.