Niche Marketing focuses on a specific and segmented audience. Among its advantages is reducing the cost of disclosure, less competitiveness, and promoting the brand by loyal consumers.
In recent years, more and more we hear about different types of Marketing. And this is not in vain.
New companies, technologies and trends emerge every day, leading to the need to adapt marketing strategies to ensure that different groups receive your message.
It was precisely one of these adaptations that gave rise to Niche Marketing. This strategy can be very useful for small companies starting or even for large enterprises that want to reach a new audience.
In this post, you will better understand what Niche Marketing is and why it is important. Join us!
Also read: What is Inbound Marketing? How Does it Work?
What is Niche Marketing?
Niche Marketing focuses on a small segment with enough distinctions to work with a specific audience.
This strategy brings great benefits for those who use it because the more specific your audience is, the greater the possibilities of meeting your audience’s needs.
What are the Advantages of Niche Marketing?
Niche Marketing can bring many advantages to those who use it. Below, discover some of the main benefits of betting on this strategy.
Reduce Disclosure Costs
Those who work with online ads know that the more targeted the ad, the lower the cost per click.
Having a very specific audience works to guarantee that online disclosure costs will always be as low as possible.
The big idea of Niche Marketing is to explore an audience through specific needs.
It is not very difficult, for example, to find an ice cream parlour. But things change when we talk about an artisan ice cream parlour that produces ice cream with natural products and without preservatives.
The two types of establishment are ice cream parlours, but there is no competition between them because of the focus of their offerings.
Loyal Consumers who Promote the Brand
Some factors guarantee this advantage. Having less competition causes the public’s attention to be less fragmented. That is, you will have more opportunities to win customers.
The second factor is that once the public proves your product’s quality and attention, the community will advertise it since the market options are scarcer.
An example of this is creating an artisan ice cream parlour in the Roma Norte sector in Mexico City, whose decoration is aimed at cat lovers, people concerned with their food’s origin and the planet’s sustainability.
This small, but cosy ice cream parlour, conquers a large part of its public through word of mouth, the products it offers and its good service.
For all this, whoever tries their artisan ice cream always returns to consume it.
Easy Adaptation According to the Audience
Targeting a specific audience doesn’t need to worry about pleasing as many different groups simultaneously.
It means that your business can give more importance to the conquered public’s criticism and suggestions to continue innovating and making a name within the community.
How to apply Niche Marketing in your business?
It becomes hard to believe that a strategy with all these advantages works for small and large companies.
- For everything to work, however, you need to follow a few steps:
- define the audience that you consider ideal through buyer personas ;
- find the niche in which this audience is present;
- think of a product of interest to this audience;
- Work out a way to promote that product.
Finding a niche may seem complicated, but a good way to avoid all those complications is by looking for problems within one of your interests.
The Hand Band Pro brand, for example, came about because a CrossFit athlete looked for gloves that would protect the hands without impairing the effectiveness of the exercises and found nothing satisfactory on the market.
It’s why small or large companies can use Niche Marketing. All you need to organize is find a group of people who do not have any of their needs met and try to solve their problems.
However, the best option is one that shows some possibility of growing your business in the future.
Hand Band Pro may have started with just gloves for CrossFit, but that served as the starting point for selling other gym-related or sports-related products.
Does the niche you have chosen present that possibility? Think about this a lot!
What are the Niche Marketing strategies?
After seeing many processes, we finally got to the final part: Niche Marketing strategies. Approximately of them are pretty well known, but don’t stop paying attention to everything, okay?
As we have already seen, a single of the main characteristics of niches is the formation of communities that help each other through recommendations for products, techniques, establishments, among other things related to the segment.
The best way to arrive at these communities is by having your company also participate in this exchange of experiences promoted by the public. That is, you need to produce content.
It is a great way to expanding your business’s reach, as there is a great tendency for the public to share interesting content.
Identify niche Influencers
Niches share recommendations and experiences; therefore, there is always someone who becomes quite well known in the middle for giving tips and exchanging experiences with other segment followers.
In some cases, you may be the owner of a Facebook group, a Youtuber, or even someone who wants to create a blog or a site to talk about it.
What matters is that you contact that person to do some publicity or dissemination action for your products.
Also read: The New Future of Content Marketing
Six Ways To Boost Productivity Using Technology
Technology has advanced exponentially in recent years, as did the use of technology in the workplace. Smartphones are everywhere and…
How the pandemic is fueling Indian EDTech platforms?
EDTech – If you have not heard about the recent success of IT solutions and edtech in India, let me…