Ever stopped to wonder what it means to niche marketing?
Every business has a target audience, but within that audience there are subgroups of children. They share certain characteristics and have needs, needs and specific preferences. These subgroups smaller are called niches and are a rich source of marketing opportunities.
What is Niche Marketing
Niche marketing follows a very simple ideas: the more specific you are the public, the greater are the chances of the company to devote itself to meet the needs of that audience. All of this thinking in the smallest details.
That Means Niche Marketing?
Niche marketing is a form of marketing that is geared to a very specific population, or a specific niche. Niche marketing means focusing marketing efforts to a group of specific people. The particular group with characteristics similar.
Niche marketing is possible when a company specializes in a particular service or caters to a specific demographic of your target audience. If the company put their marketing efforts on this subgroup, this business is practicing niche marketing.
How to Do Niche Marketing?
With a niche approach, you can enjoy your experience in one area to stand out from your competition. You can provide other products or services and can cater to a wider audience, but expertise in one area helps you to differentiate your company.
The size of the niche of a company in relation to the target audience may vary. Some niches make up the audience for the whole, while others form a small percentage. Depending on the size of the niche, a strategy of niche marketing may consist of any one of the following:
- define the audience that you consider as ideal by means of personas;
- find the niche in which this public is present;
- think about a product in the interest of the public;
- develop a way to promote this product.
Finding a niche can seem complicated, but a good way to avoid all this complication is by looking for problems within some of your hobbies.
This is exactly why small or big business can use niche marketing. All that needs to be done is to find a group of people who had a certain need met, and to try to solve your problems.
The best option, however, is the one that shows any possibility of scaling the business in the future.
Example of Marketing Strategy of Niche
Let’s say that the target audience of a landscape architect is composed of owners of residential properties, as opposed to owners of sports fields, offices or apartments. Within this audience there are multiple types of owners, based on region, type of district, income level and size of the lawn.
An example of a niche here would be property owners of a high purchasing power, or owners of properties of high purchasing power who have plants or organic prefer landscaping that is ecologically correct.
The landscape architect provides the basic services of care of the lawn for the owners of average income also, but your niche is owners of high purchasing power. If there are owners of properties with high purchasing power in sufficient quantity in your area, the landscape can only market to this demographic group.
Otherwise, he can use the same marketing eu would use for the niche of owners of high purchasing power for all of the target audience, featuring a beautiful lawn into an image for a Facebook ad or focusing your content to be the unique landscape ecology of your area.
Benefits of Niche Marketing
Niche marketing is not for every business, but if you have the opportunity to focus your business on serving a specific niche, there are many benefits to be obtained.
The benefits of niche marketing for a business are many and even more significant for small and medium-sized enterprises. First, you create a relationship much closer with your audience. After all, satisfying a need for which no other company had ever worked.
This close relationship increases the engagement of the public and the strength of the disclosure the organic structure of your business. The client niche well attended will spread your brand to people who share the same needs that he.
In this domino of benefits, the next piece is the cost of disclosure. With greater targeting and engagement of the public, it is possible to make investments in surgical, media streaming to be segmented and definition of squares that will make the account much more attractive. And with results commensurate with much larger.
1. Relationships Improved With the Client
Niche marketing is targeting a very specific type of client, so depending on what you are promoting, your niche market may be very small. For example, if you are a physical therapist specializing in pregnant women, there are only few pregnant women who may be looking for physical therapy.
A small base of clients has its benefits. When you are involved with less people, you can focus on the quality of those commitments and to nourish their relationships. Your emails can be more personalized, follow-ups more diligent and thanks more frequent.
You can also accommodate special requests, provide personalized services and meet your customers on a more individual level. Each of these practices will allow you to better serve your customers, improving even more your relationship with them and solidifying their loyalty to you.
However, if you have a small niche, you have to be careful not to put your efforts of marketing in a trap. If your niche is only a small part of your target audience, make sure that your marketing efforts with your niche are increasing their turnover and not hurting your business. This is one of the many important considerations to be made to form a niche strategy.
2. Competition Reduced
When you have a product or service highly specific, there will be fewer companies with the same offer. For example, there are millions of businesses that sell knives. There are less companies that sell knives with wooden handles hand-made, and even fewer that offer knives customized with your initials in them. The more specific is your product or service, the less businesses there to compete with you for customers, and the harder it will be to duplicate their strategies.
Although it is important for companies to have competitors, competition reduced is not necessarily a bad thing.
The less competitors you have, the less you have to worry about monitor prices and keep track of what their competitors are doing.
At the same time, the more specific your product, the less people will be looking for it. The competition reduced is only one benefit of niche marketing when there is an audience significant to compete.
If your competitors are not focusing on a niche because they are unable to meet their specific needs, this is a great news for you. If the competitors are not focusing this market because it is not profitable, perhaps you will not be able to earn a lot of money focusing on this niche.
3. Greater Visibility
The increased visibility is a benefit of niche marketing that not only leads to more customers, but also can improve your online presence.
The companies that cater to a niche market tend to be unique, such as a cleaning company that only uses cleaning products natural, a bakery, gluten-free or a landscape architect that creates interesting patterns of grass cutting.
Companies with a product or service unique tend to stand out and are often featured in the media, such as talk shows, radio stations or newspapers.
With niche marketing especially, put the right product in front of the right people is more important than getting your product in front of many people.
However, to use the media to put your product in front of a lot of people also has its benefits. The more people know about your company, the more people will recommend your product to people who meet the profile of your niche.
4. Growth of the Marketing word-of-Mouth
Another benefit of niche marketing is that it is very friendly to marketing word-of-mouth. People in a niche tend to be in frequent contact with other people in this niche, which means more opportunities to advertise your business.
A good example of niche marketing and its amplitide are pregnant women… pregnant Women attending fitness programs pre-natal, take classes in early childhood education and buy in the shops for maternity clothes, where you can find many other pregnant mothers.
If you are a yoga instructor prenatal, your current clients will be some of your best marketing professionals. The better you serve them, the more likely it is that they recommend, and maybe even praise, its services for many other pregnant women.
5. Expertise Is Improved In Your Area
Niche marketing requires a practice that is more concentrated in one area, and because of this, you really have chances to improve their experience in a short period of time. The benefit of niche marketing is that it allows you to become an expert or thought leader in your niche.
For most customers, the expertise is more important than the size or the brand name. A small law firm specializing in immigration has more chances to be chosen by the clients looking for immigration services in comparison to a bigger office without specializations.
When it comes to legal services, financial or health, people usually choose companies who has more knowledge and experience in your area of concern.
When you are a specialist in something, it only gets more confidence of the client, as it also gains more brand recognition. If you do it, you will be median at all and will bond to the crowd… it Will be just one more.
But if you’re really good at one specific thing, you will stand out. You may even be known for that specific thing. This is not to diminish the other services that you provide. The key here is that you become known. People can know your business because of a speciality which you offer, even though they are looking for a different service that you provide.
6. Less resources
An important part of digital marketing effective is to identify and understand your audience, which requires an investment of time and money in tools and data analysis. The benefit of niche marketing is that, as you are confined to a specific person and a specific need, it takes less focus to investigate their data to understand and keep up with your needs. You also will not be making several attempts and errors which can also serbem expensive.
Another benefit of the low cost of niche marketing comes from the target audience. Companies with a broad audience will have several segments this is public. Content successful, ads, and channels of communication will have a different appearance for each segment, and the supply of their methods to each segment requires more effort.
When you meet only a demographic group, you have less work to do. You can also operate with more ease and to give all their attention to this area.
7. More Fun
Companies do not always choose your niche from the beginning. Many times, they accidentally find their niche in the process of serving your target audience. A photographer whose target audience are people (as opposed to landscapes or animals) may find that he is particularly good on photos of children.
A landscape architect may find that he is particularly fond of working in environments from small pot. A financial advisor may find that it works best with the teachers. The benefit of niche marketing is that your niche comes from your interests, passions or special skills, in the end, you will be doing more of what you love.