Using Niche Marketing to Give Your Business a Competitive Edge
What is Niche Marketing?
Niche Marketing is defined by the Economic Times as “ channeling all marketing efforts towards one well-defined segment of the population. There is one important thing to understand that ‘niche’ does not exist, but is created by smart marketing techniques and identifying what the customer wants.” Put simply, niche marketing is a strategy in which a business identifies a unique group’s challenges and provides them with a targeted solution. The “marketing” component of this encompasses all of the content and ads that the company makes which highlight both the consumer’s specific issues and their product or services particular solutions.
Why is Niche Marketing so Effective?
Niche Marketing helps business owners to stand out among their competitors because it is directed at a very specific group of people that might be overlooked by larger marketing campaigns. Other competing brands might intrigue the same audience within a niche, but if the marketing is specific enough, the brand that has niche’d down and really knows its audience will be able to win over the customers.
A Simplified Example of Niche Marketing
To create a visual of how niche marketing works, picture a gymnasium filled with high school students. A business that sells backpacks on wheels is looking to market to high schoolers and wants to utilize niche marketing to get noticed. They decide that their backpacks aren’t necessarily for every high schooler, and learn more about the specific students that will love their products. Through market research, and product reviews they find that the students who are most likely to buy their product have similar issues like back and/ or neck pain from packing their heavy books around. Some might even have physical disabilities that make carrying a traditional backpack more difficult. With this information, they create an ad campaign to speak to students with these challenges and these challenges only. They address these students’ discomforts and offer the perfect solution– their backpacks! Where there was once a massive group with diverse characteristics— the gymnasium filled with high schoolers—there is now a very specific segment of the audience that’s being targeted.
How You Can Get Started With Niche Marketing for Your Business
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Get to know your target market
Just like in the backpack company example above, any good niche marketing campaign starts with getting to know the ideal customer. A lot of articles on niches will tell you to learn everything about your target market from the cars they drive to the color of their hair, but there are some specific details that will actually help you to market to your audience, and unless you’re selling hair products, the color of your audience’s hair probably doesn’t matter.
Instead of focusing on superficial details, get right to the core of what makes your target market tick. Find out what your audience is feeling. What are their struggles? What are their hopes and desires? How does your product or service influence these things? -
Learn about your competition
Once you know everything about your target audience that you can possibly dig up, it’s time to look at your competition. Learn what makes your product or service different/ better. Find what makes your offer different so that you can tell your unique audience why it’s the better fit. You can also use the information you learn about your competitors to niche down even more specifically. The more specific you get with your target audience, the less competition you should have.
Finding Your Niche
There is so much more to learn about Niche Marketing, but hopefully, this gives you a place to start with your own strategy. At Desert Creative Group, we work with businesses to help them find and communicate with their target audience. If you’re not sure where to start, or how to implement Niche Marketing into your current marketing plan, we’d love to help you get started!
Contact us to set up a free consultation today!
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