“It’s a small world, but I wouldn’t want to have to paint it.” – Stephen Wright
Yes, the world makes for a big pond to fish in but for most of us it is just too big of a market. Marketing dollars will be quickly wasted in a global market.
Instead, entrepreneurs need to think small or locally by focusing on the underserved or overlooked customers. Abandoned by the giant mass marketers, these lonely customers go begging for offerings that cater to their special needs. They are left to buy poor substitutes which leave them unsatisfied and unhappy.
Yet, when the courageous niche marketer listens and creates specialized products for them, the reward for the provider is customer loyalty. More than satisfied, these happy customers recommend the offering to others like themselves, which is the true measure of loyalty.
Thus, the more customer specificity built into a product or service the greater likelihood of success. Localization enables the entrepreneur to more easily defend his or her position in the market since the big competitors don’t care about the smaller market segments.
Globalization Shmobilization—think localization.
John Bradley Jackson
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