If you try selling to everyone, you’ll end up selling to no one!
A generalized or broad market means you have a difficult time highlighting your brand among a sea of competitors. You find yourself struggling for your brand visibility and forming your name on people’s minds.
So, how do you stand out? It is hard to build and maintain a brand, particularly with already established organizations to compete against. It is where you are currently struggling. The right solution is adding niche marketing to your marketing strategy.
With niche marketing, you can create a dedicated community for your company, generated from a selection of particular sections of your consumers. Picking the right niche marketing helps save your money, intensifies your chances of building a reputation as a unique brand, and enhances your marketing ROI.
So, how do you determine your niche market?
What is Niche Marketing?
To reach a specific audience, you should ask yourself: What is a niche market?
The simple way to define “niche market” is by categorizing your larger target audience into a particular category. Niche marketing allows you to choose your audience from specific demographics such as age, location, gender, income level, education level, marital status, occupation, and ethnic background. For instance, Coca-cola working on niche marketing is quite different for both customers and restaurants. It is because both niches have different requirements.
Similarly, many reputed brands using niche marketing have gained global recognition. Have a look at these three-
Examples of Niche Marketing in India
- The prominent brands- Lux and Hamam, though they are bathing soaps, both have a different niche marketing strategy. Lux is sold as a beauty soap whereas Hamam is sold as a soap for good hygiene. The advertisers work on the core attributes of the people and convey the message accordingly.
- An Indian brand, Britannia, provides sugar-free and digestive biscuits. Considering diabetic patients as a target group, the brand sells specific products such as Britannia sugar-free digestive biscuits. On the other hand, Horlicks too sell its healthy biscuits. But Britannia, targeting the audience as a whole, never forgets its mini-market of diabetic patients.
- Raymond and Siyaram have a different marketing approach. Siyaram targets entrepreneurs on a large scale, whereas Raymond always has sub-urban areas to be their highest reach. The competitive edge for both brands is the same, but the approach and niche are different.
Organizations with the right niche market correctly can create highly engaging, personalized, and emotive marketing campaigns that boost ROI and strengthen brand loyalty.
What else? You can be relaxed with niche marketing because you don’t have to face big competition. Indeed, but have to work on how to place your brand among a particular group of audience.
How can You Establish Your Brand Recognition with Niche Marketing?
Winning niche marketing is never strenuous if you know how to succeed in the competitive market. And for this, your brand needs to be identified in niche market efficiently by following these tips-
- Find the Unidentified Pain Point: What pain is enough for the desire of niche marketing that can pay a premium to alleviate it? Pick up the problem, find a solution, market the solution.
- Research the Competition: Regardless of which niche market you are pursuing, you should research your potential competitors. Thinking if there exists any market for your niche? Once you find a keyword that has substantial traffic but have paid advertising and low competition, it is a brilliant opportunity for you to enter the market. Looking at your competitors’ content could be a great help in picking your niche target market.
- Establish Buyer Personas: Your targeted consumers are not clones that they will buy what you sell. Competition is quite fierce that brands need to be more than unique to win the market. Take cosmetic products as an example; not everyone is interested in buying them — some like organic products. The better thing is to divide your audience into different segments and market your product accordingly.
- Work on Your Keyword Planning: Your products need to be sold for your brand to stay in the market. Find your targeted keywords through prominent tools, Google Adwords, and Google Trends. Then search for those same keywords according to regions. You’ll know what your audience is looking for. Ideally, your search is narrowed down to a niche having both market and need, where your audience is ready to pay for your product and service.
- Test Your Idea: Take your friends or acquaintances help, to know if your idea will work or not. Send them the samples and know their reviews. You can run a survey if you are new to the market. However, if you are planning to implement a new idea for your existing product, you can target one region at first to sell your product.
Never act like a stranger to your customers else your niche market strategy will never go live. Thus, niche marketing is simple to do if you’ve identified your target audience aptly. Find your audience, figure out their problems, provide a solution, and win the market!
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