Improving Your Niche Marketing Strategy

Improve your niche marketing strategy to stay ahead of the game.

A niche marketing strategy is one that targets a specific subset of a market and is not a strategy that is ideal for every business. However, if you have determined that a niche marketing strategy is right for your business, here are some things for you to consider to distinguish yourself from the rest.

Knowing and serving your customer

In a niche market, it is not only enough to just know your customers’ demographics but also their beliefs, behaviours and desires. In doing so, you can better cater to their needs in your products or services and add more value to what you are selling. Customer service is especially essential for online businesses as there are no physical spaces to produce an in-store experience. Serving your customer digitally can involve the customisation of a product or service, promptly responding to queries, or packaging the product in a way that aligns with your brand.

Storytelling

An emotional connection with a product or service can influence a customer’s purchasing decision – storytelling is one of the most powerful methods to draw an audience in. Changing the ‘About Us’ section to ‘Our Story’ on a niche family business website may be effective, but it’s just as important for the story to reflect the brand. Some business stories are told through their employees’ or customers’ testimonials and successes. Niche retail businesses may tell the story of their product’s symbolism, unique features, designer, artist, or maker.

Be selective with your advertising platforms

Using social media is one way to gain visibility and to have a digital presence, but social media channels are often saturated with competitors and other distractions. Depending on your product or service, some customers may prefer to visit industry-related websites or use a search engine directly, rather than clicking on an advertisement on Facebook. Other customers would prefer to trust their friends and to gain knowledge through word of mouth. These businesses may gift an item to a circle they want visibility in. Ensure your marketing channels are cost-effective for your business.

The information in this blog is intended only to provide a general overview and has not been prepared with a view to any particular situation or set of circumstances. It is not intended to be comprehensive nor does it constitute advice. While we attempt to ensure the information is current and accurate we do not guarantee its currency and accuracy. You should seek professional advice before acting or relying on any of the information in this blog as it may not be appropriate for your individual circumstances.

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