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August 2, 2018

Successful Niche Marketing: 4 Great Strategies for Your Business

niche marketing

There are nearly 28 million small businesses in America. Whether you’re a budding entrepreneur or a successful manager of several employees, learning how to build and maintain your reputation is essential.

In a world saturated with fierce marketing tactics, it’s more important than ever to stand out from the competition when implementing your business strategies.

Niche marketing allows you to best target your ideal customer, refine your content, and establish credibility as a leading source in your industry.

Let’s get into everything that you need to know!

What Exactly is Niche Marketing?

Niche marketing refers to concentrating your marketing efforts on a specific and defined target population.

Niches don’t “naturally” exist in the world. You can create them by identifying the various characteristics, needs, and questions that your potential consumers may have.

Establishing a niche allows you to provide services and products to a population that other businesses may have overlooked.

Benefits of Niche Marketing

Niche marketing takes time and work, but you can reap some serious benefits if you put in the effort.

Reduced Competition

When you tailor your customers to a particular group of people, you automatically eliminate some competition.

For example, let’s say you’re a personal trainer looking to break into the fitness industry. You’re stacked against millions of trainers offering similar services, right?

How do you convince your average consumer that you’re the one worth hiring?

You focus on a target population! Rather than provide fitness services for anyone, you decide to specialize in training new mothers looking to squeeze in realistic workouts and lose post-baby weight – on a budget nonetheless.

Now, you can create a defined strategy to advertise, market, and master your services. Even though there may be fewer people seeking your services (a niche is a smaller population), you can position yourself to be the top person your niche seeks to hire.

Natural, Word-of-Mouth Growth

What’s one of the best benefits of niche marketing? In a world that’s relying on less face-to-face interactions, this strategy remains very word-of-mouth-friendly.

That’s because if you’re providing services in a specific niche (where services may not exist or may not exist on a quality level), people are likely to tell you about them to their friends and colleagues.

Let’s go back to that personal trainer example. You start advertising and providing personal training sessions for new mothers seeking weight loss and fitness routines on a friendly budget. You provide exemplary customer service, and let’s see what happens!

A happy mom is likely to refer you to another searching mom. Maybe your name starts popping up in local forums or community groups. All of a sudden, your customers have inadvertently become your best marketers.

Defined Expertise

When you hone in on niche marketing, you naturally become more knowledgeable about your expertise in a shorter time.

That makes it easier for you to rise as an industry leader within your niche. For most consumers, your expertise matters even more than your size or brand name.

Think about it this way: people want businesses that understand their specific names. They want businesses that know customers like them – they know the problems and concerns they have.

Defined expertise comes hand-in-hand with consumer trust and brand recognition. There is a time and a place to be a jack-of-all-trades within the business sector. However, with niche marketing, you ideally get to become the master.

Fewer Resources

Digital and social media marketing can become a never-ending process. You have to invest serious time, money, and analysis to best launch your products and services.

Niche marketing simply requires less trial-and-error. That’s because you’re not focusing on appealing to the broad masses. You’re focusing on a specific subset.

And chances are, if you’re already very familiar with this niche, you’ll have a better path for how to advertise and talk to your consumers.

research target market1 – Research Your Target Audience

Have you decided that it’s time to begin your niche marketing strategy? If so, the first step is identifying the “who.”

Many successful business owners recommend starting with a variable wish list. This means identifying the perfect person you hope to do business with.

Let’s go back to the personal trainer example. Let’s say you imagine your dream client. Write down everything you can about him/her.

At the end of it, you may have a list that looks something like this:

  • New mothers living in Los Angeles
  • Between ages 27-35
  • Middle-class
  • Seeking to lose baby weight
  • Previous experience with exercise
  • May feel strapped for time or money
  • Interested in short-term training plans without equipment (so they can do the exercises at home)

In doing this exercise, you are identifying with a potential customer’s worldview. That makes it easier to determine his or her specific wants or needs.

After that, you want to start digging into some research. Where does this demographic exist? Are they more active on Facebook or Instagram or Pinterest? What other products are they buying?

What are they currently doing (or not doing) to solve this problem in their lives?

2 – Craft Your Marketing Campaign

When it comes to reaching to your specific niche, you need to start by identifying where and how you’re most likely to reach your audience.

With nearly 1.5 billion users on Facebook, social media is undoubtedly an easy way to start, but you want to make sure that your demographic is actually using these platforms.

The types of consumers using Pinterest may be vastly different from the types of consumers using Snapchat, and you need to understand these nuances.

When it comes to marketing, you also need to get the basics covered. This includes having:

  • A personal website
  • An active blog
  • Personal branding
  • A social media following

In today’s day and age, simply having an online presence is not enough. You need to be active, engaged, and attentive to your consumers. People want to know the face behind the brands they use, and that means they want to know you and what you stand for!

Your Personal Website

This is the best way to showcase your company. Make sure you have a clean look (too much clutter can be jarring). All relevant contact information should be easily accessible.

Whether you choose to DIY your website or outsource to a professional, having a good design is an absolute must.

Furthermore, no matter how familiar you are with SEO, it’s having a non-negotiable content strategy that all business owners must incorporate on their sites.

An Active Blog

Your blog may be one of the most essential parts of your SEO strategy. However, it doesn’t just improve your website’s online presence. It also can do wonders in establishing your expertise in your particular niche.

There’s no set amount of blogs you should post, but do your best to keep up with a consistent schedule. And, remember: you don’t need to reinvent the wheel by creating totally unique content. You need to focus on answering unique questions and solving problems that your average consumers may have.

Personal Branding

If your company doesn’t have a personal brand, you’ll either come off as “too generic” or unfocused.

Branding takes time, but it entails having a clear and consistent message about what you deliver (and why you deliver it). Entrepreneurs achieve branding through the types of products they sell and the types of content marketing they utilize.

Social Media Following

For most niche markets, you’re going to need a relevant social media presence. This, of course, can take time to develop. There are numerous strategies you can implement to increase your growth rate. They include regularly posting, building relationships with other brands, and creating relevant giveaways.

Don’t forget to comment, share, and post with your users. Remember, you want to be actively engaging with your current and potential consumers!

PS: Don’t rule out other popular methods of advertising. Just because the digital space is dominating modern society doesn’t mean you should overlook other traditional means of marketing. These include common methods such as brochures, business cards, and mailers.

niche marketing strategy3 – Practice Showing Over Telling

It’s one thing to tell consumers how awesome your company is. It’s much different (and much more effective) to actually show them.

As you begin honing down on your niche marketing strategy, practice the fine art of showing over telling. That means creating an effective story or narrative about your products and services.

Showing evokes more genuine feelings and human connection. Moreover, it helps people feel connected to something greater.

Showing can be done in numerous ways. You can do it with your brand’s overall tone. For example, some companies work well by using quirky, ironic language. Others tend to use more proper and elegant speech.

Whichever you decide, stay consistent to it and make it your own. You want your brand to have a voice that distinguishes itself from the competition.

Beyond your dialogue, you can also achieve the art of showing through your advertisements, photos, and overall content marketing.

Think about the kinds of feeling that you’re aiming to evoke. Do you want to create a sense of happiness and euphoria? Or a sense of curiosity and intrigue? Or, are you just looking for readers to connect with a theme of playfulness?

When you can show how awesome your products and services are, the quality starts speaking for itself. As a result, your brand comes off as more authentic and congruent with your core message.

4 – Track Reviews and Trends

Studies show that up to 84% of consumers trust online reviews as much as they value what a friend thinks.

We already mentioned the common benefit of niche marketing with word-of-mouth referrals. With that said, building a reputation and a strong online presence – with strong reviews – is also essential.

Nowadays, consumers are quick to turn online to determine a business’s quality. People want to see honest feedback and testimonials. In a nutshell, they want to know exactly what to expect when they buy from you.

That means that you need to implement a dynamic strategy that encourages your consumers to leave reviews after making a sale. You can do this in numerous ways.

Customer Surveys

This is one of the easiest ways to garner feedback. All you need to do is send out a brief survey after completing a transaction. No, you won’t get a 100% response rate. In fact, research shows that people tend to leave reviews when they’re either very pleased or upset, so pay attention to both.

Offer Incentives

Depending on your business model, you can offer incentives for leaving a review or testimonial. Incentives don’t have to be expensive – simply offering 10% off the next purchase or throwing in a free gift can go a long way.

Assess Your Reviews

Feedback (both good, bad, and anything in between) is essential for all business leaders. You need to know what’s working and what’s not, and it’s important for you to take all feedback seriously.

Take note of different trends happening in your market and demographics. Are you noticing surges or drops in sales at certain times of the year? Are you finding people are willing to spend more or less during a specific season?

Take into account all these trends and use them to your advantage!

digital marketing

Final Thoughts on Rocking Niche Marketing

Just like any other marketing strategy, learning the ins and outs of niche marketing can require both time and patience.

At RDB Design, we’re passionate about helping our clients harness their brands, increase their traffic, and drive more customers to their business.

Simply put, we bridge the gap between saying your company is the best and proving it. Interested in learning more? Schedule your free breakthrough strategy session with us today!

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