Niche marketing is the process of addressing a small, specialised segment of a market. If you’re an accountant, for example, your niche might be property owners, or restaurants. If you’re a business consultant, you might specialise in a certain type of service, such as change management or business planning.
Niche marketing is widely regarded as an effective approach, particularly among smaller businesses where relationship building is key.
Let’s take a look at some of the top benefits of niche marketing.
(1) Get a clearer picture of who you’re marketing to
The central idea behind niche marketing is that it allows a business to focus in on a target audience – a specific, well-defined group of people who share certain characteristics.
So how do you build up a detailed picture of your target clients?
Demographics will only give you part of the story; you need to consider what’s going on in people’s heads, too. Ask yourself questions like:
- What do these people want to hear?
- What are their values?
- What are their aspirations?
- What challenges do they face?
(2) Send a more persuasive message
With a clear idea of who you’re talking to and what those people desire, you’ll be able to deliver messages that truly resonate.
Getting specific with your messaging might feel daunting at first, and it’s common to worry about alienating or excluding people.
Think of it this way – your message can’t possibly speak to everyone, and it’s much better to have 500 people who love your business than 5000 people who think it’s okay.
The closer you’re able to get to the specific goals and desires of the people your marketing to, the better the reaction will be.
(3) Reduce your marketing costs
Once you’ve defined your target audience, you’re halfway there. Developing a marketing plan should now be far easier because you’ll have a clearer idea of the type of content your audience wants to see. You’ll also know where and how to reach them.
Because of that, niche marketing is more cost-effective than mass marketing. You’re removing a lot of the guesswork and you don’t need to get your message in front of so many people.
With niche marketing, you can concentrate your efforts on creating relevant content that your identified audience will relate to and delivering it in the most appropriate way.
(4) See increased engagement from your followers
When you start building an online presence for your business with a niche market in mind, you’ll be more likely to see higher engagement rates.
If people can see that a message is clearly directed at them and not meant to appeal to the masses, they’ll be more likely to interact with it.
As well as being more relatable, highly targeted content is more useful. The more useful you can be, the easier you’ll find it to build trust with your audience.
Key takeaways
- Niche marketing is good for smaller businesses with a lower budget
- By focusing in on a specific audience, you’re increasing your chances of success
- When you get serious about niche marketing, you’ll build a clearer picture of your target audience, deliver a more persuasive message, reduce your marketing costs, and see higher engagement online
For affordable marketing support from an experienced team, get in contact with Marketing Square today.
