Finding your niche market
Scott Harkey
Harkey Group
- Part 1The art & science behind billboards
- Part 2 Finding your niche market
Show Notes
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00:30Identifying key steps for effective niche market penetration.Discussion on strategies for brands to successfully target and enter niche markets.
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05:15The impact of team size on business expansion.Exploring the relationship between team size and business growth potential.
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10:45Lessons learned from niche marketing success.Insights into powerful lessons for successful niche marketing strategies.
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15:20Top tools recommended for niche market research.Quickfire recommendations for tools to enhance niche market research.
Quotes
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"The marketing professional service space, it's very competitive, and it's getting harder and harder to convince new clients to hire you." - Scott Harkey
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"I really feel like the industry specialization is a better way to go personally. It's more differentiated in the marketplace, and you're able to offer products and more outcomes because you're confident in the industry that you work in." - Scott Harkey
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"What's been successful for me and our 16-year run in B2B is really not developing products right away." - Scott Harkey
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"AI will be, of course, having a lot of very specific specialized outcomes for brands and agencies. So I'm very weary of having products that are going to compete with AI at all because I think we're going to get smoked." - Scott Harkey
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“I've never been successful in anything I've done as a startup or even helped other startups from just building something with a lot of research. I think everything I've seen has been a moving target based on what customers want and what will actually drive outcomes.” - Scott Harkey
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“Trust is still the currency of at least the U.S. market today. And whether it's a CPG company, an ad agency, a political campaign, that's what at the end of the day we need to think about we're selling is trust.” - Scott Harkey
Episode Chapters
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02:21Game Plan -- Identifying nichesDiscusses the steps to identify and penetrate a specific niche in marketing to ensure business growth.
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05:05Buy or Sell -- Niches too smallExploring the idea that selecting a niche with a too small total addressable market can lead to business failure.
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11:02The Secret Sauce -- Industry specializationReveals that trust within a specialized industry is the key to success and higher conversion rates.
- Part 1The art & science behind billboards
- Part 2 Finding your niche market
Up Next:
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Part 1The art & science behind billboards
Scott Harkey, founder and CEO of the Harkey Group, delves into the dynamic world of billboards and their evolution with new technology. Learn how out-of-home advertising is experiencing a digital resurgence, and discover the secret sauce for creating effective billboard campaigns. Scott also shares his unique perspectives on leveraging data, analytics, and creative strategies to amplify your brand's message.
Play Podcast -
Part 2Finding your niche market
Scott Harkey, founder of the Harkey Group, delves into the power of niching down and the importance of trust in marketing. Discover the strategies his agencies used to penetrate specialized markets and how focusing on industries like hospitality and entertainment led to unprecedented success. Get insights on balancing broad service offerings with industry-specific expertise and learn which approaches help build enduring client relationships.
