Does it seem impossible to stand out in your industry? Niche marketing can differentiate your brand, resonate with a specific group of clients in a sub-market in your niche. Which in turn builds authority within that market.
What Is Niche Marketing?
Niche marketing is an advertising strategy that targets a sector of a market. The Niche marketing selling and advertising strategy doesn't primarily focus on those who would benefit but focuses exclusively on it's sub market or demographic of customers who would most enjoy or benefit from the offerings.
A niche market could stand out in a 'saturated' industry because of:
Benefits Of Niche Marketing
The benefit of niche marketing is that rather than blending in with many other brands that offer the same type of product/service, it allows differentiation between themselves. They appear as a unique authority, and resonate with a specific set of customers. They stand out, reach their growth potential, valuable and build a stronger, longer-lasting connection with their 'ideal' audience.
Niche Marketing Example
Niche markets are likely to be segments of larger industries, Here is a great example that found a way to drill down into their industry to create a brand new niche market.
Lefty’s: The Left Hand Store
Identifying a large market is a smart way to approach Niche Marketing especially in an under served community. Lefty’s: The Left Hand Store found a widely under served community of people – those who favour their left hand instead of their right hand.
Lefty's account for only 10% of the population. Lefty's saw an opportunity as left-handers have widely had to adjust to using products designed for “righties.” Then a store was created that sells products designed exclusively for the minority, left-handers and found success reaching this considerably smaller, yet often ignored audience.
Finding A Niche Market
Are you now feeling better equipped for identifying micro-marketing opportunities in your own industry? To find and to disregard an idea for a niche market in your vertical, go through this process:
Who Are You Most Eager To Serve?
Do Your Due Diligence In Your Industry
Choose the type of niche marketing you want to do. Decide if it's a good idea by analysing the competitors in that space and seeing what they're doing to make themselves stand out. Be observant to see if there are any openings in your target market that may have been missed and ask yourself "Is there a demand here?"
Getting To Know Your Ideal Customer
This is another way to get the ideas flowing for Niche Marketing is getting to know your ideal audience and what it is they they really want and need.
Choose Niche | Test | Tweak | Repeat
In Marketing when testing different strategies it's unrealistic to think that you set up a niche marketing campaign and assume it will achieve the results you want straightaway. Ideas must be tested, reviewed and tweaked accordingly.
You may find that your first idea for niche marketing didn’t work, but that a simple tweak could hit a sweet spot that brings in audiences and converts them to lifelong customers.
Targeting & Reaching Your Niche Market
Exploring the niche marketing tactic is a means to connect with a more loyal, smaller sub-market of customers. By using the example in this post you will be able to identify and develop a strategy for under served and valuable customer segments that you can focus on.