Large, giant companies are beginning to lose some momentum with the younger generation because they are failing to make a connection. These giants are beginning to forget what it was like to be small and the time it takes to develop a solid customer relationship.
Small niche markets build communities or they are built around communities.
Gen Y and Communities
Gen Y is built upon networking and communities.
We have been connected with millions of people on the internet for over a decade now. We can easily find people who are just like us, so we can connect and build relationships.
Whoever is reading Life Destiny is probably somewhat likeminded with me. You probably have a strong passion for one of the things I talk about (entrepreneurship, lifestyle design, personal development, health & vitality, Gen Y). In a sense, we have our own little small niche community of the combination of the mentioned topics. We share a common ground together and have similar goals and values. Even though Life Destiny is only a little over a month old, I have formed a few strong relationships that if I did release a product this soon, the people in the strong relationships I have formed would probably buy.
When you are in a relationship built upon trust, you have a want to give and help the other person. You feel connected with them on a deeper level than an everyday acquaintance.
Why Small is The New Big
Smaller niche companies are becoming hugely popular based on the fact they are built either around these small niche relationships or built for these smaller niche communities. The companies are building products that help strengthen the ties of the communities. They are not trying to reach a mass; they are trying to build an experience of camaraderie around a small group. These companies are a part of the communities and want to take them to a whole different level.
These companies not only are unique, they are also remarkable. These companies go out of their way to make a connection and build a relationship with just about everyone in these small niche communities. They are selling experiences and the products or services just so happen to be a part of these experiences.
Some Companies Get It
Some companies are getting this picture and are beginning to build around these smaller niche communities. For example, Gap, is reaching out to the active women community with their new clothing line Athleta. They also have Piperlime, offering footwear and handbags for MEN, women, and children.
Since I am on a Seth Godin kick, Small is The New Big (affiliate). The power the large and old corporations have is their money. They have the money to build these smaller niche markets. They just need to be willing to change and spend some.
Go Small or Go Home.
Gary Vaynerchuk Gets It
Here is a video of one of my idols and also one of the people that inspired me to start Life Destiny through his Web 2.0 Expo Speech, Gary Varynerchuk talking about Seth Godin’s Linchpin and finding a niche: