Bullseye! Why and how to use niche marketing

 

 

 

 

 

 

 

 

 

Written by Chipo Mapungwana

Smaller brands that want to beat their much larger and resourced competitors  are increasingly  resorting to niche marketing. Niche marketing has been described as the process of finding and serving  a narrowly defined  group of customers  and designing customised services for them. The key to niche marketing is to find  potential demand  that is not being met by any supplier. Niche marketing allows a business to differentiate itself by offering a unique service or products to a unique segment of a market.

Niche marketing works for a number of reasons. We all want to be treated differently, to have our unique tastes satisfied,  and given a choice, many people would want to have products and services tailored specifically for them. Therefore the more targeted your communication , the better the chance of success in creating a niche market for your business.

When is a niche truly a niche?

To label yourself a niche marketer depends on the degree of expertise you and your service team truly possess as well as the types of tailored solutions that you provide for the target market.

How to build your niche market

  • Personalise your marketing. People like to feel unique, so pitching to a niche market requires a well tailored message.The more specific  you are at picking your niche , the more targeted your message will be.
  • Find out all you can about  the niche market that you are targeting. Network, read, network some more. Know your niche, its language and its challenges. Business owners want  to work with people who will be a sounding board  and dispense relevant advice as well as providing workable solutions.
  • Choose a niche market that aligns  with your identity. Don’t make promises that you can not deliver. In niche marketing you are regarded as the expert, so you need to back up your image with some substance.
  • Have a team composed of strong communicators and broad analytical thinkers. Train your team as much as you can. The investment will pay off.
  • Have a plan. This includes evaluating your client base, and  examining your  existing areas of expertise. Identify your target market based on geographical size,and needs. Research, and identify  traditional and non-traditional  services that you can offer. Identify and contact potental referal sources, and  join relevant trade organisations. Create a wish list of companies that you want to target and put together a plan to target them.
  • Make sure that the quality of your products and services is not left wanting. The great thing about niche marketing as far as the customer is concerned is that it provides a promise of a tailored product that does not compromise on quality, otherwise your customers would just buy from the general store so to speak.

Why niche marketing works?

Niche marketing works because it enables you to satisfy a small segment of the general target population usually with much lower overheads.. As a niche marketer you only expend resources for the target client base and this allows you to communicate to and engage only those people that are in that niche. Niche marketing also enables you to build a profitable customer base that acts as your advertising word of mouth, if you have done your homework right. Because you are targeting a small segment of people you can leverage on technolgy to creatively  tailormake your products and services to you niche.

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About chipomaps

A brand reputation, marketing and new media trainer and consultant. Constantly curious, constantly learning.
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One Response to Bullseye! Why and how to use niche marketing

  1. Henry Mpofu says:

    Good advice. How ironic that as reach widens a narrower focus becomes more necessary. How easy is it for a small start-up to precisely define a niche without investing heavily on information technology? I feel that in a lot of cases one will only be able to more precisely define their niche when they are already running a business. I think every start up should be viewed as an on-going experiment, as opposed to first finding the data and then setting up.

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