Niche Marketing: Why Focus is the New Black

“Cast a wide net to catch the most fish.”

That line represents one of the most outdated mindsets of the business industry. If we are to learn from the most successful and innovative entrepreneurs today, we have to be open to the idea that more does not mean more.

As confusing as that is, it will make sense with niche marketing.

What is niche marketing?

Right off the bat, the most important question to answer is the nature of this approach and how it was developed. Niche marketing focuses on creating a unique offering that you can exclusively propose to your target market.

In practice, the best results occur when you also have a specialized market with highly specific needs – like millenials who need an outdoor experience, thus the popularity of Pokemon Go or freelancers in need of professional-looking office sites they can use to meet clients, thus the breakthrough of Breather.

However, finding your niche can work while targeting any market, from working moms to teenagers, as long as long as you are coming up with a unique way to solve a problem or cater to a need.

Its effectiveness springs from niche marketing being inherently a competitive advantage.

Imagine in a saturated marketplace, where clients can easily compare the services offered by different companies, you stand out because you offer something that’s different, often an area of a service or product has not been targeted by competitors yet.

You are a deemed as a specialist in that particular service, and unlike what’s offered by your mainstream counterparts.

For example, in a sea of web content writers, you are most known for writing first person travel articles.

What are the advantages of Niche Marketing?

1. Easier to develop an expertise

Because you’ve streamlined areas of service and what your product offers, you can focus on what it does give. This allows you to spend more time understanding your market, honing your craft and developing an expertise, instead of doing menial jobs other companies also do.

2. Less competition with other companies

When you market a niche product or service, you lessen, if not eliminate, competing with mainstream brands which have more money invested in generalized marketing. Bigger brands spend less time personalizing their product because it has to cater to the general public.

By being more specific, you are able to zone in on marketing your products to people who are looking for something more specific and innovative. This gives you the advantage over mainstream products which seldom cater to a customer’s unique needs.

3. Cost efficient

Niche marketing is the friendliest approach for start-ups and solopreneurs who neither have the influence nor the money most established, mainstream brands have. With a niche established, you won’t have to waste money on marketing efforts that seldom convert to sales.

It instantly rids of extortionately expensive price that comes with general ads you place on TV or radio shows. You can even avoid billboards and flyering because you can focus on your target market that has a higher likelihood of responding to your niche.

This is the reason for the wide popularity of databases and targeted social media marketing. Not only are you able to reach more of your target market, but you’ve significantly lessened what you spend in doing so.

This is written by arcci_r. Order an article from this writer HERE.

Discover Jobs That Can Help