Four Things You Should Know About Niche Marketing

Shalom Solomon 23rd April, 2021

There is a lot of fuss on the internet, by bloggers and marketers alike on digital marketing alone.

One would begin think that digital marketing is the only type of marketing that matters.

Yes, it is true that digital marketing is increasingly growing popular with marketers and consequently there is a growing demand by businesses nowadays.

This trend is largely attributed to the recent pandemic that tripled the reliance of people on the internet. With almost everyone locked away in their houses, technology, primarily the internet became the easiest way to connect with the outside world.

Now, is that to say all other marketing strategies asides digital marketing are invalid?

No.

The great thing about marketing strategies and maybe every business concept is that they can be used together.

What I'm saying is that, you can adopt as many marketing strategies as possible. Even all, if you wish.

There are other forms of marketing asides digital marketing that are still relevant and effective. Infact, your digital marketing campaign would produce better results when you use it in conjunction with these other marketing strategies.

In today's post, we would be looking into one of such relevant and effective marketing strategies, niche marketing.

What is Niche Marketing?

Niche marketing is an often ignored marketing tactic, probably because every business wants to fish in the big seas. There are other bodies of water with fishes in them too.

Niche marketing is a marketing strategy that divides the market into segments and focuses all marketing efforts on a selected segment (niche) of the market.

As with specialization in business, niche marketing concentrates every resource into marketing campaigns that appeal to a target niche.

This marketing strategy is particularly effective for over populated markets like the fashion industry. In the fashion industry, there are numerous fashion lines and brands, fashion designers, fashion bloggers and so on. The competition in the market is obviously heavy. Niche marketing would enable a business break into such a market and stand out.

A good example is Supreme. A unique clothing line that caters for the clothing needs of skate boarders.

I mean, how innovative and off the charts is that!

Of course we know that skate boarding is a favoured sport with a sizable population in some European countries.

Supreme saw this gap in the fashion industry, spoke their language and marketed to their specific needs.

Photo Credit: Pexels

So, What are the Advantages of Niche Marketing?

1. Little or No Competition

When you carve out a niche to market you products and services, of course competition is greatly reduced.

Infact some niches might have no competion at all and you become the only business that offer such services to customers. With the right marketing tactics, your business is bound to make waves in the business world.

2. Smaller Target Audience

Your target audience is now smaller, therefore, marketing research gets easier, studying your target audience also becomes easier. You would be able to build engagement with your target market based on their unique needs and voice. Your marketing efforts would be much more effective because you are focusing the beam of your light on a niche rather than the whole market it self.

Bottom line is, you would be able to offer better services.

3. Visibility

Niche marketing offers you the express quality of uniqueness. Even when you belong to a larger industry such as Catering, but then you focus your efforts in reaching a target audience with dietary restrictions such as diabetic patients. Your business would definitely stand out which would in turn yeild higher Return on Investment for marketing.

4. Reduced Expenses

Of course with are smaller target market, the cost of marketing is greatly reduced. You only need to focus marketing on areas where your target audience frequent. Which would be easier than chasing a wide market.

Using the Catering for Diabetic people example from earlier on. A referral from a health blog would produce higher ROI, finding social media groups or pages where your target audience is won't be difficult either.

And since every penny you spend on marketing would yeild returns, there is little room for loss.