Niche Marketing: Identify Your Target Segment

You’ve already figured out that your product or service won’t be for everyone, or maybe even for most people. It’s not a mass-market item like dish detergent or socks. Is your product designed with the needs of a smaller, defined group of consumers in mind, and are you scoping out marketing strategies? Niche marketing is a likely option for your promotional efforts. This marketing strategy involves targeting a highly specific, clearly defined customer demographic when promoting your products or services.

Exactly what makes niche marketing different from other forms of marketing? It’s different from other types like mass media marketing because it doesn’t try to reach every consumer or appeal to an extremely broad audience. Niche marketing identifies a segment that has the greatest need or want for its product and tailors the message to that. It delivers that message through outlets that are most targeted to that market.

A broad market for pet food is pet owners. A niche market is pet owners who have senior dachshunds that need a special type of pet food. That special type of pet food is a niche product. A niche marketing campaign for that product might collaborate with bloggers or other influencers who are crazy about dachshunds.

Who Uses Niche Marketing?

Companies and institutions of all sizes use niche marketing. For example, Whole Foods uses it to reach a niche market of consumers who want high-quality, healthy, organic foods. Smaller businesses, like artisans that make handcrafted products, and local service providers, like lawyers, also use niche marketing to reach their target audiences.

The target audience for niche marketing depends on what the brand is marketing. It’s the audience that has the most reasons to buy the specialized product or service. The unique attributes of your product or service help determine who the target audience is.

The Benefits of Using Niche Marketing

Niche marketing has a long list of advantages for brands that have particular customers in mind for their products. These include:

How to Get Started With Niche Marketing

Niche marketing might sound like it’s pretty sophisticated, but it doesn’t have to be daunting. It’s a blend of common sense and doing the necessary homework. These tips can help you begin planning a niche marketing campaign.

Do the research to find out the types of consumers your product benefits most and if it’s profitable for your brand to target them. Market surveys and interviews you conduct can help you determine if this group could be interested in buying your product and at what price point. If you already have a social media presence, engage with followers who have interests around the product to discover what their needs are.

Is there something you’re passionate about as an individual and have a lot of experience doing that could benefit others? You could have a niche product and market at your fingertips. For instance, say you’ve done ample genealogy research about your own family, love finding information about your Irish roots and are good at it. You could be in an excellent position to start your own genealogical research business. You’d target a niche market of people who want to explore their families’ beginnings in Europe or Ireland specifically.

Look at what your competitors are doing well and where they’re missing the ball. Think about the advantages you currently have over them and highlight these in your niche marketing. Also evaluate any problems your competitors are overlooking that your product could solve for consumers. Check your competitors’ social media accounts for unaddressed customer complaints. See if you can better address those issues with your product or service.

Research the right platforms and channels for reaching your niche market. In addition to strategies like email marketing, think about working with influencers who specialize in creating content for that niche. For instance, say your brand is marketing children’s beach apparel with built-in UV protection. Consider working with influencers who post and blog about family travel or children’s healthcare to reach that particular niche.

Don’t forget the value of face-to-face contact. Go to industry trade and consumer shows, conventions and events to gather insights. This also helps you generate leads, brand awareness and conversions. More techniques to boost your niche marketing efforts include product samplings, tastings and other types of experiential marketing.