Corporate Penetration of Hyperlocal Markets
For large corporate enterprises, niche audiences are often the domain of small businesses. As corporate structures optimize their efforts through standardization, tapping into hyperlocal markets is often challenging and not cost effective. However, with the growth of niche communities, corporations are accelerating their efforts to penetrate local markets.
Successfully targeting local populations can involve either shedding or leveraging corporate identity:
- Shedding corporate identity - Starbucks' 15th Avenue Coffee & Tea cafe is not branded with its corporate owner. By shedding the corporate identity, Starbucks is able to cater to the local culture through various events and unique offerings. Coffee tastings from experts and open mic night are examples of programs the national coffee chain can offer without having it associated with the Starbucks brand.
- Leveraging corporate identity -- The NY Times is tapping into the hyperlocal market online, through "mentor" programs. Essentially, the NY Times wants to have a hand in the editorial process of hundreds of local media outlets. By polishing online news content with their expertise, they seek to gain small portions of advertising revenue from those digital publications with whom they own a stake.
Read more about this topic: Hyperlocal
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