The Power of Niche Marketing

Video Transcription

Hi, I'm Tyler Hurst, the Director of Sales and Marketing here at LiveRez.com and I want to welcome you to this week's edition of Whiteboard Wednesday. Last week we talked a little bit about long tail SEO and how that fits into an overall strategy of niche marketing. But I started thinking about niche marketing in total and how do you really emphasize the value of niche, the why, and the how. And maybe even a little bit of the what.

I started thinking about it. I pictured it and I started thinking. How do I explain why niche marketing's so important? Well basically, it's really the question of, do you want to be a little fish in a big pond, or do you want to be the big fish in a little pond? Well some of things we've come to realize is that if you're the big fish in a little pond it's a lot easier to target, it's a lot cheaper to be able to reach your demographic. You're easily a thought leader in the industry as you publish data, as you use social media, as you blog, you can put out information and become a trusted resource. And then very lastly, it's a lot easier to stand out for your inventory and for your products to stand out in a niche, once again being that big fish in the little pond.

So, what are some examples of niches that you could work in as a vacation property manager? There's hundreds. I started thinking and I researched. For instance, pet friendly is one. I did a search and I found whole websites that were directories of all the places around the country that were pet friendly homes. Another one that's very common is fishing. We have met lots of property managers around the country and I know some who do fishing tours and they do guided fishing competition. You'll go then, you'll rent a house that's right by the river or the lake. It's very centric to bringing in fishermen.

Golfing. We all know that golfing is a huge industry and it's a great travel opportunity. Putting houses near the golf course and maybe packaging up green fees or tee times with the house. Then also ski in and ski out. Obviously that's a huge industry for a specific niche of people who want to ski.

A great example that goes along with the example of pet friendly, just to help you illustrate how important niches can be, 78% of guests who travel with a pet will make their decisions based upon the pet policy of the place where they're planning on lodging. One of the things that is common is that people don't take the time to place a pet policy very clearly on their website, something like 21%. So one of the things you want to make sure is, if that's something you want to go after, a demographic, make sure understand your policy and make sure you make it clear to them. Make sure you integrate into that industry to show that, "I've got inventory for this specific niche and you should come see me about it."

One of the last things that I wanted to mention was that it is Valentine's Day. So, I want to wish a happy Valentine's Day to all of you out there. And once again, invite you, that if you want to know more about this topic we have a webinar, "Five Strategies to Performing in a Niche," and you can check out the webinar by clicking this button right there. That's this week's edition of Whiteboard Wednesday and we will see you next week. Thanks.