"If you market to everyone, you will end up marketing to no one"
When it comes to business, this statement is one of the greatest quotes that you can adopt. When trying to compete with our competitors and the thousands of alternative products and services that our customers can choose from, sometimes we try to market to everyone that walks in our doors, by our doors, or looks in our direction. Sales, Sales, Sales and more Sales. This never works. No, not even for a corporation like Mcdonalds. You just can't market to every single person and provide solutions to the needs of every single person on the planet. If all I like to eat is a bologna sandwich with light mayo and extra onion then Mcdonalds is wasting it time asking me to join its facebook page or to follow their tweets. Sure they could create the best bologna sandwich in the world but would it be worth the effort to market to such a small crowd?
Target markets are important. Concentrating on niches helps to establish your brand as the go to product or service for that niche. I have met me people that are experts in their various fields of study, but I have never met anyone that is an expert in everything; and yes that includes Jim Cramer. There is an amazing number of social media websites on the Internet and everyday that number is growing. Your company should never try to participate in each and everyone of them. You must choose the social networks that your customers use. That is how you communicate with them and get a great return out of your investment.