One of my favourite films is Kinky Boots, I’ve loved it for years. The divine Chiwetel Ejiofor struts his stuff as Lola, the drag queen with attitude. His transformation from broken individual to glamorous star is paralleled by the ailing and traditional Price & Sons, transforming itself into a successful, thriving business.
How? The keyword is ‘niche‘. Price & Sons shoes have stuck to tradition for years, producing quality footwear…that nobody wants any more. Should Charlie (the ‘& Son’) continue ‘flogging a dead horse’, shoot the horse or train the horse to compete in a different event? Charlie meets Lola and spots a need. He decides on the latter, and retrains his reluctant horse (stubborn factory workers, set in their ways) to compete, in an entirely different event, I’m thinking Dressage.
- Charlie Price identifies a need – quality boots for drag queens, transvestites and trans-gender men, a growing population.
- Charlie listens to his target market – I mean REALLY listens, what exactly do they want? How do they want it? ‘RED darling, RED!’
- Charlie sets to work retraining his ‘horse’, making a new product
- Charlie tests his new product on a critical audience who will tell it like it is (love Lola)
- Charlie listens – and fine tunes his product, for ‘fine tuning’ read, scrapping and starting from scratch
- Charlie produces a product that his niche market need, and want
- Nice one Charlie
Why niche marketing?
- Less competition
- You are easier to find
- Your target market definitely want you
- You are a BIG fish in a small pond
- It can be very cost effective
Lola and Price & Sons bravely transform themselves from nothing special to something sensational; in business, life could imitate art.
Watch and listen to Charlie and Lola; transforming Price & Son to a glamorous star.