Every product has a market. It may not be a big market but there is someone who will buy what you are offering. Niche marketing determines where those markets reside. Most advertising campaigns are drawn in broad strokes for greater appeal. With niche marketing, your advertising can be more focused and directed since you know that everyone in your audience will be interested in the product.
Everything you do has a customer in mind. The feel is more personal for the customer as if you are talking directly to them and know their needs. Every customer wants to be appreciated for their business and with niche marketing this is possible.
Fewer dollars are wasted to draw business in. If your target group doesn’t read the newspaper, there’s no reason to advertise there. If they don’t redeem online coupons, there’s no sense in wasting energy to create and send them. Use those extra dollars to offer added perks to your loyal customers. Also improve your website with varied media like podcasts and streaming video.
Niches offer hundreds of thousands of dollars in untapped market opportunity that goes unclaimed. This money could be in your pocket. Bigger corporations aren’t going to waste their manpower on smaller markets that want specialty items.
In business, everyone is clamoring for position. With a niche market, you can be the first and set the pace for others to follow. Besides, you are satisfying a need that others have failed to meet. You can feel good about that.
Finding your niche in society is to find a place where you belong and can grow and thrive. To find a niche in business is to find a market that needs something you want to be able to provide. Niche marketing helps you to find smaller pictures within a larger one.
And, once you tap into a market, expand your business to increase profits. There is enough room to move around amongst niches that everyone can make some money.