Niche marketing is your sure route to market leadership as a luxury real estate marketing professional. When you are secure within your niche and stay focused there you will discover that other niche leaders are not really your competition. Therefore, there is plenty of room at the top.
Niche market leaders are not in competition with their counterparts. This is a very important concept to grasp. They only compete with others within their niche. See how this plays out in the American Idol competition.
While it is true that the American Idol contestant who survives with the most number of votes wins the big prize at the end of the show they may not be the big winners in the long run. Jennifer Hudson was voted off the show early on, but went on to win the Golden Globe and Academy Award for best supporting actress, plus multiple Grammy Awards. Doughtry and Adam Lambert have sold millions of records, achieving much more than the ones who won the contest in the same year.
In 2008 runner ups, David Archuleta and David Cook (who won the prize) went on to be very successful in their respective niches. Archuleta sold close to 1,000,000 copies of his first album to an adoring younger teenage fan base. The first post-Idol album of Cook, the rock singer/song writer, was certified Platinum. With completely different audiences were these two artists actually competitors outside of the Idol contest?
Historically, the contestants who were most clearly defined in their niches far exceeded their counterparts who were not. This year the niches are already sharply defined for many of the contestants. As a result, they have already won the game in terms of winning over their respective fans. If they stay within their niches and do not try to please everyone they should do very well.
We call this “staying on your brand signal”. For example, the deep voiced Scotty is the genuine country article. James is the unmistakable rocker and Jacob is rhythm & blues.
Sharply define your niche within the luxury real estate marketing arena and stay focused there. You will find that your counterparts in their respective niches are not your competition. They may even make great allies because there is plenty of room at the top.
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