2018-06-11 03:58:23 Marketing English Focus your marketing efforts on the consumers most likely to give you business. Niche marketing is the method of identifying people in your... https://d3hrajprm8dqcv.cloudfront.net/wp-content/uploads/2018/06/11035742/manager-discusses-niche-marketing-plan.jpg Niche Marketing What Is Niche Marketing?

What Is Niche Marketing?

2 min read

A handful of decades-old, established soda and car brands can send marketing messages to just about everyone and have them be heard. Think Coca-Cola and Suzuki. Most businesses, though, have to focus their marketing efforts on specific niches. This is because the average consumer only pays attention to products and services they’re specifically interested in. Marketing to people with highly focused interests is the key to long-term success in business. Here’s how niche marketing works.

Selling a specific product or service to a certain type of consumer is a far more effective way to gain recognition than selling a little bit of everything, trying to appeal to everyone. So whether you sell women’s casual wear or graphic design services, you want to concentrate your marketing efforts on the people most likely to notice your marketing messages and engage with your company.

To reach niche consumers, the first thing you might do is find out where they hang out, both in the real world and online. Social media websites make niche market research easy. With a few clicks, you can find out how many people on a social media platform fit the profile of your ideal customer and share your niche marketing message with them.

Real-world niche market research takes a bit more effort as you may want to find out where your potential customers live and work, what they do for fun, which television and radio shows they tune into, and which newspapers they read. A business with a big marketing budget might hire a market research firm to find out this kind of information. If you’re just starting out, you might have to use a hands-on approach, like talking directly to people in your community, to find out how best to reach consumers interested in your niche products or services.

As your business becomes more established, email marketing allows you to take your niche marketing efforts to the next level. If you use cloud-accounting software to manage your finances from day one, you can use add-on apps that let you manage customer contact information and create engaging niche marketing emails to encourage people who have already given you business to buy more and refer their friends and family.

Niche marketing actually helps you cut down on wasteful spending, ensuring your marketing messages go straight to consumers most likely to buy from you.

Information may be abridged and therefore incomplete. This document/information does not constitute, and should not be considered a substitute for, legal or financial advice. Each financial situation is different, the advice provided is intended to be general. Please contact your financial or legal advisors for information specific to your situation.

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