There are many ways for a business to market itself. Social media has made this easier than ever, but it has also added a new level of complexity that many business owners don’t have the time to learn and truly master. Same goes for email marketing, print marketing, and content marketing. They all have their specific strengths and weaknesses, and all can be utilized in particular ways to drastically increase your business’s visibility.
There is one marketing method that many businesses overlook completely, and it has nothing to do with training or expertise. It’s all about creativity. Niche marketing is when a company or event targets a very well-defined, and specific target market. Now, this is much different than your typical target market. We all know the obvious customer segmentation (young adults, age 18-30, millennials, baby boomers, etc.), but this is taking it to a whole new level.
Let’s say you run a flower shop in a medium-sized city. You are competing with 3 other flower shops in a 5-mile radius. How do you separate yourself from the competition when you are all targeting the same customer base? You brainstorm. You get creative. You sit down and think of everyone who could possibly need flowers for any occasion.
And…lightbulb! You strike gold.
You decide to start marketing corsages and boutonnieres to Juniors and Seniors at the local high school. This is your ‘Prom Special’ campaign. You send out flyers to the school, run ads on Facebook targeting the parents with students in high school, and sponsor the yearbook. Soon enough, your flower shop is handling the flower orders for almost every student attending prom.
This is niche marketing. You take a target customer base, and whittle it down until you have only one incredibly specific group of people who are in need of an exact product you offer.
Sometime these niche markets can be only a few thousand people, or even as small as a few hundred. The size of the market isn’t important, it’s your ability to fulfill their need and become to go-to provider for whatever that need might be.
Many businesses ignore these niche markets because they don’t see the big picture when it comes to generating sales and customer attraction. It’s hard to see the forest through the trees, as the saying goes, and understand that every niche you can grab just adds to your overall customer base and improves your overall business sales numbers.
So, what niche can your business start to attract? How will you go about getting their attention and drawing them in?