How do you forge partnership in niche market?

How do you forge partnership in niche market?

If you own a B2B business in a niche sector then you are aware that less competition, low price pressure and rather closely-knit network of stakeholders across the value chain offer greater chances for success. While as good as it sounds, the same advantages may present distinct set of challenges making it difficult to identify and network with right set of people and achieve your goals effectively.

So how do you overcome networking challenges, power collaboration and business growth?

Networking never gets old

Business networking is a must for any business to survive. It is the easiest way to create brand awareness and reach your audience. And that is why it is critical to have exhaustive and quality contacts. This allows you to tap into a wider audience, simplifying marketing and reducing advertising spend. Besides lead generation, solid networking also helps you get work done swiftly and seamlessly. And while we are on the topic of business networking, it would be amiss not to mention how social media is supercharging this entire phenomenon across sectors.

Taking advantage of social media

Imagine spending only six hours a week approximately, to boost your brand awareness, traffic, as well as sales at a fraction of a cost. Yes, we are talking about using social media to gain exposure. Approximately 90% of marketers claimed one of the many advantages of social media is that it helped them generate massive brand exposure in a short period of time. Social networks have become a key part of marketing strategy that offer tremendous benefits and any business not using this platform is certainly missing out on an incredible marketing and networking opportunity.

Delivering results within B2B Niche Marketing

Having said that, a lot of B2B marketers are still struggling and social media marketing is yet to gain steam. However, players who have got it right are increasingly witnessing lucrative results within niche B2B marketing. Smaller the target audience easier it is to focus, reach and deliver meaningful results. In fact, you already have a head start – as you are focusing on a niche audience – this allows you to cut through the noise and exclude all fluff and bluster, and offer relevant and expert content, making it far easier to reach, connect and collaborate.

Finding niche market audience

Advanced techniques such as social listening – especially Individual Profiling has made it a lot easier to identify segmented audience and other business stakeholders within the nice market ecosystem.  It allows you to get complete visibility into an individual’s profile including their corresponding skills and experience, allowing you to expand your network whether through lead generation, talent sourcing or R&D and academic partnerships. In fact, a lot of vendors using these techniques now offer niche database that focuses on specific industry that combines a list of detailed individual profiles.

For instance, Springbord focusing on 4D printing has developed a detailed and comprehensive niche database for that industry, allowing players to connect and network for hiring or research purpose. They also offer further individual profiling services to drill down details about shortlisted profiles.

We can support you in expanding you network as per your business requirement and harness the power of social media to your advantage. Talk to us today!

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