Marketing to a niche can bring on a unique set of challenges that other businesses in the industry do not face. In order to be success as at niche marketing, overcoming these obstacles is a must. But first, what is niche marketing?
Defining Niche Marketing
Many beginners in the marketing field assume that niche marketing is the same as target marketing. The fundamental difference between them is that target marketing is focusing on a specific part of the general population, and niche marketing takes it a step further by focusing on a unique segment of the target market.
For example, while the target market for a business may be people aged between 20-30 years, the niche market are individuals within that target market with unique needs. To further illustrate, recruitment agencies may be targeting people in that age group – that would be target marketing. If the recruitment agency specializes in hiring people in the medical field, they need to focus on that niche (medical professionals) within that age group.
In Niche Marketing, whether targeting consumers or resellers, marketers need to focus on the unique strengths of a business
In order to successfully find (and market to) a niche segment of the target market, businesses much look inward. They must be able to find what sets them apart from others in the industry, and how they are able to satisfy the unique needs of a portion of the population. This will make niche marketing incredibly easy because the business and the niche are both focused on the same thing.
Marketing Strategy For Niche Products And Services
One of the advantages of niche marketing is that any efforts in marketing are not lost in a crowd of other mainstream businesses that are also trying their best to showcase their products and services. Niche markets are usually under-serves and the competition is relatively lower, so market strategy does not focus on the competition as much.
However, niche marketing may mean that the number of potential customers is lower and therefore you will need to find ways to expand the scope of your marketing efforts. A great way to do this nowadays is to offer international selling. This means that you are no longer bound by the geographical limitations of your location, and thus increase your potential client base.
Creating a website is important if you want to reach international customers. Thus, search engine optimization, with a focus on long tail keywords is a must for niche marketers. Long tail keywords are those keywords that are more descriptive of the product that you are offering. For example, a broad keyword can be “laptop”, and “gaming laptop” may be more specific. If you focus your SEO effort on more specific phrases such as “gaming laptop with RTX 3080” you are directing your SEO and marketing efforts on high-end gamers and not just anyone looking to buy a gaming laptop.
Niche marketing does not need to be complex or difficult. If you focus on what makes your business unique and the specific needs of a niche market, there is usually very little competition and marketing can be highly effective.