Not everyone can be pleased with your work. Yet, making your business or brand different from others is a clever way to cut through the other brands.
Enter niche marketing.
This type of marketing allows you to target a specific audience. Here’s a thing or five about marketing niches.
Niche marketing is an advertising strategy that targets a section or subset of an entire market. Rather than marketing to anyone and every one an offering might appeal to, it hones in on a particular group of potential customers who are most likely to benefit from it.
Makeup artists cater to a particular subset of the beauty market, for example. The same can be said for a bloggers, software engineers or car dealerships.
A niche market can be determined by any number of defining factors. The usual suspects are:
Demographic (gender, age, race, income, education, employment status)
Psychographic data (interests, personality, attitudes, lifestyles, opinions, and values)
Quality level (basic through to luxury)
Spending habits (premium, mid-range, discount, wholesale)
Personally, using niche market is more effect and easier compared to targeting a broader audience.
Marketing to a niche also heightens your brand’s visibility. Think about it this way: Would you rather be a small fish in a big pond or a big fish in a small pond?
Niche marketing aims to build something more concentrated, but not really a small customer base that is loyal to you. You are able to serve your specific customer needs and you are able to speak their language.
It’s important to not just sell to a niche market but to also celebrate and engage with it. With more engagement happening with your business means higher conversion rates.
Before you begin to start your niche marketing, you need to understand more of the larger market that surrounds your niche. Start talking to potential clients, go to events, or look at social media insights.
When things start to make sense to you of what your niche is, start to define those factors (demographic, location, psychographic data, etc) and narrow down your target market.