The Benefits of Niche Marketing
When you think of successful marketing campaigns, chances are you’re thinking of major brands that can appeal to nearly everyone. We’ve all seen a Coke-A-Cola ad that pulls at our heartstrings or a Dove video that forces us to rethink beauty standards. What these powerful campaigns have in common is the ability to take a product (or service) that most of us use on a regular basis and force us to see it in a new light. They make us think outside the box, and in turn we keep them top of mind.
But what if your company provides a product or service that isn’t so commonly used? You may be a B2B business that sells equipment to oil and gas companies or develops tires for road bikes. Naturally, the smaller your target audience is, the less interest the general public will have in your brand. However, this does not mean you can’t have an effective marketing campaign or strategy that would resonate with audiences – even if they’re outside of your target. You may be thinking “what’s the point of developing a marketing strategy at all if I only sell to a specific group of people?” Well, a tailored, niche marketing strategy might be just the thing you need to be able to reach your consumer (public or not), and here’s why:
Target your customer base more accurately
Long gone are the days of “spraying and praying” marketing. Fifty years ago, nearly everyone watched the same television programs, listened to the same radio stations and read the same newspapers, so the chances of advertising with one of these mediums meant you had a pretty good chance of reaching your target. But, as technology evolved, developments made it easier for people to chose what media to consume and marketing became a lot more focused and complex (thanks a lot, internet). Luckily, so have our companies.
By doing comprehensive research into who your audiences are (demographics, interests, social media habits, etc.) you’ll be able to identify how they spend their time and consume their information, thus making it simpler for you to reach them.
Now that you know how to reach your niche audience, communicating with them effectively will allow you to develop stronger relationships. By developing a strong marketing campaign that allows you to interact with your current and potential customers on a more personal level, you will in turn be creating brand loyalty. Communicating to a smaller number of people allows them to get to know you and your team closely, making them feel like they’re a part of something bigger.
Increase Word-of-Mouth Referrals
No matter what your business is, we’re going to guess your goal is to grow it. It’s no secret that word-of-mouth is one of the most effective forms of communication – in fact, 92% of people would take a recommendation from family and friends over traditional advertising. Why? Because you’re always going to trust someone you know more than a brand or business you don’t, bringing us right back to having closer connections with your niche market. So, once your audience develops that trust with your brand, they’re going to sing your praises to their contacts. This is especially true in niche marketing, where your audience is smaller and more targeted, meaning they’re likely to have connections with each other.
Get Ahead of your Competition
If you’re in a B2B industry where marketing isn’t overly prevalent, a marketing will help get you ahead of the game. By communicating with those that follow your brand and sharing your company culture, as well as industry thoughts and insights, you’re staying top of mind and positioning yourself as an organization passionate about what it does. It doesn’t matter whether your own a B2B or B2C business, people want to be associated with brands that care about their work.
Just because none of your competitors are using marketing strategies that put them top of mind and ahead of the curve doesn’t mean you need to follow suit – stand out and become a leader!
Create an Emotional Connection
Yup, we’re going to end off on a heavy note. It doesn’t matter if you’re products or services aren’t “exciting,” we guarantee your business effects your audiences on a deeper level than you think. The business development manager whose attention you’re trying to get? Chances are he or she has a family they are providing for. The work you do directly affects the lives of everyone involved – whether that be your customer or your employee. So, it’s important to communicate your organizations mission and values in an effective way to different audiences, no matter how small that group may be.
When it comes to interesting, heartfelt marketing campaigns, Enbridge – an energy transportation company – most likely wouldn’t be your first thought. However, one look at their website and you know where their values stand – providing ethical and safe energy resources for the community they serve. Sure, energy may not be exciting, but knowing that your energy provider has your family’s best interests at heart, that’s something most people can get behind.
Marketing to a smaller number of people, about a topic (you may) not think is overly “marketable” might not seem like a smart investment – but we’re here to tell you it’s just the opposite. In fact, it may be one of the smartest things you can do to get noticed in the right circles and take your business to the next level. Not sure where to start? Let us know, we’re here to help.> Back to Blog