Recently I parked my car in front of a Dunkin Donuts to use their WiFi while I waited for one of my children to finish taking some tests at a local high school.
I got hungry and was thinking about going into Dunkin Donuts to get something to eat. But I looked around and noticed a bakery, Domingo’s Bakery. I went inside as a I wanted a freshly made sandwich that’s similar to what I would make at home. Don’t get me wrong, I LOVE D&D chicken sandwiches, donuts and other food. However, at that time, I wanted something different.
Walking into Domingo’s Bakery I was pleasantly surprised at how packed and full it was. In fact how full of life it was, with a flurry of activitie, kids running around and Spanish filling the air.
My initial thought was, how does this bakery have a thriving breakfast service with Dunkin Donuts being right across the street?
It’s simple. This bakery is service a niche market.
1. Those who primarily speak Spanish.
2. Those who want more fresh or authentic food
3. Those who want a homey experience.
Also, as we learned from Dave Ramsey’s “Business Gets Personal” event with Seth Godin and Gary Vaynerchuk, you don’t have to destroy your competition to win. Most markets are big enough that there’s room for many competitors to do quite well. You can leverage the power of your digital marketing to FIND customers and WOW them all day long.
Learn from the Cuban bakery. Don’t be afraid of your competition, in fact – embrace them and thrive.
Here’s the view that the local Dunkin Donuts store sees…every day…
Here’s the view Domingo’s Bakery sees every day…I bet this view inspires them to excellence and a deep focus on their customers. Go narrow, target small – get big profits.