What is niche marketing and Why is it important?
One in four million left-handers die every year! Just because a tool like a chainsaw is designed for the right hand.
This may sound strange but try holding a pair of scissors with your left-hand or try navigating your computer using the mouse only with your left-hand. I promise you that in a few minutes you will see death before your eyes.
Today there are stationary companies that decide to target only one corner of the market instead of the whole market. They do so by creating only left-handed products! The company Lefty’s the Left Hand Store has a “corner of the market” or so-called “Niche Market” and has found great popularity in this category of people.
In this article, we will learn what niche marketing is and how we can find the right audience for us in this market. Then we talk about its importance and look at some examples together.
What is Niche Marketing?
To answer the above question, we want to compare the whole target market of your business to a delicious chocolate cake. We cut a piece of this cake and notice that its taste and contents are different from the rest of the cake. This is the magic piece of your “niche market”.
“Niche marketing means touching on a segment of the target market that larger competitors have not yet met.”
You must have heard the phrase, “Our product has its own customers”. “These special customers” are a group of people in a community who all have a similar characteristic, and that characteristic is nothing but their “need” for a product. If you succeed in niche marketing, your popularity will gradually increase, and you will gain more loyal customers. What could be better than this? Where are these loyal customers now? Once we know the niche market, how do we sell our product to it?
Why should we use niche marketing?
Now that you have decided to reach out to an audience whose needs may never have been addressed, you can be sure that they will bring you great benefits. We will review some of them in this section.
You put your brand message in the heart of the audience
In niche marketing, you use words, phrases, and pictures that are specific to a particular group of people, and you are actually speaking to them in their own language and forming a stronger connection. This way you can convey your brand message to the audience.
You do not go astray in attracting the audience
Once you have a good idea of your character, you need to know where he spends most of his time. Not only will this increase your chances of being seen, but you will no longer have to waste your time and money on platforms that your audience will not be able to reach.
Your competitive market is more secluded
When the product you produce or the service you provide is unique. Fewer companies can compete with you. The more secluded the market, the better for you, because you no longer have to check the prices of your competitors every day and constantly work hard so that one does not fall behind the other.
You have a stronger connection with your audience
Because the number of people in niche marketing is more limited, you can increase the depth of your relationship with them. For example, send them more personalized emails and, more than ever, track and fix problems that have arisen for them. The stronger the relationship, the more loyal your audience will be.
How to find contacts in special marketing?
There are several ways to do this, depending on the needs of your business. All of the following methods can be found in the Google Analytics tool or in social network insight.
1. Niche marketing based on geographical location
As the name implies, in this classification we select people according to their location. Targeting a group of people is a specific location allows you to monopolize the community and keeps you free from competition.
2. Niche marketing based on demographics
Age, gender, social class, education, job position and income are good metrics based on which you choose your target market.
Facebook, for example, was initially designed for Harvard students only, and after its initial success in its niche market, it targeted other US universities as well. Facebook gradually expanded its audience to become the largest social network we know today.
3. Niche marketing based on psychology
In this type of division, we can categorize people based on their personality traits, habits, lifestyle, hobbies, and even political affiliation. Examining these characteristics allows us to know more details about the audience and get to know them better.
4. Product-based niche marketing
Another niche marketing approach is to get your hands on a particular product. This means that you can also use marketing niche in the product production stage. This time, instead of looking at businesses, compare products.
For example, instead of growing a flower and planting a greenhouse, sell a special product like a cactus. So now you ask yourself why people should give up a big greenhouse with all kinds of plants and buy from you?
The difference between you and other florists is that the appearance of your cacti is special, you deliver your products door to door, you send free care training manuals with the goods, you have more beautiful packaging and you also provide flower and plant care services at home.
In this approach, you only focus on one product; But you offer it to the customer with the highest level of quality and more services. These two features are your competitive advantage that makes your audience choose.
Niche Marketing can be very tough which is why Kiuloper is always here to help as a one stop shop for all your marketing needs.
In this article, we learned how to choose our specialty area and produce our products according to their needs. We also figured out how best to reach our audience. Remember to be patient in niche marketing.
Do not expect to be able to raise the conversion rate to the ceiling within a week. You need to give yourself time and try to build a stronger connection with the audience. Make sure that when the time comes, these contacts will become customers and wherever they are, they will not forget your name.
So far you have heard from us and we are sure that you have come up with an example of niche marketing. If you have ever used corner marketing in your business, tell us about your experiences in the comments section of this article.