Marketing 101: Niche Marketing
Marketing your products and services online can be a difficult task, especially when you don’t have a large advertising budget. However, it is possible to still compete with larger companies and market online. Niche marketing allows smaller businesses to advertise their products and services to a specific audience.
With a limited advertising budget and a specific product your company can target a limited audience who’s interested in what you have to offer. To find the right niche for your marketing efforts isn’t that difficult. Your first objective is to determine your targeted audience. Concentrate on the people who would most benefit from your products or services. Narrowing down your targeted market will help you find your targeted audience.
What are the benefits of niche marketing?
- Your advertising budget goes further and your sales increase.
- Advertising to a targeted market cost less than advertising in a global market.
- Your marketing campaign only focuses on a specific gender, age group, hobby, occupations, and ethnic background.
- Your company can sell a wider range of goods and services, plus you escape the competitive mass marketing competition.
How to design a niche marketing campaign:
- Tailor your marketing efforts to only concentrate on the unique needs of your audience.
- Your advertising must attract and meet the needs of your targeted audience.
- Define the benefits and features of your product that will most appeal to your particular market segment.
- Make sure your products and services are different from the existing products on the market today.
- Determine if your products will meet the targeted consumers needs better than the existing products on the market.
- Understand what makes consumers complain about the existing products.
- What current offering are missing in the market today?
- Combine various sub-offers with your existing offers.
- Supply your customers with higher-quality products and services.
- Always deliver top-notch service to your customers.
- Pay close attention to your R&D and production costs.
- Consider offering a generic product and a customized product.
- Use word-of-mouth marketing campaigns instead of traditional marketing campaigns.
- Create consumer-generated contact for your marketing campaigns.
- Take advantage of forums in your niche market.
- Use social and digital marketing during your niche market campaign.
Niche marketing is an excellent way for smaller businesses to target and advertise on the Internet. However, before launching your niche marketing campaign you must first determine your target market, your product benefits, and if your product will meet the consumer’s needs. All niche marketing campaigns will succeed if you first narrow down your target market, focus on the benefits of your products, and offer the best customer service to your customers.
About Sarah Johnston
Sarah is an IT consultant with a degree in marketing. She enjoys helping others to learn the ins and outs of Internet, Website building and blogging.