Niche marketing allows your business to be a big fish in a small pond — and that can pay off in a big way. Niche marketing means focusing your business on a very targeted segment of the population, whether it's a specific geographic region, a particular demographic group, a select industry or some other group of people with shared interests. These smaller markets are often overlooked by mainstream companies, which gives you the chance to swoop in and land their business. Focusing your efforts on a niche market can:
- Create a cost-effective way to find potential customers.
- Enable you to spend more time developing relationships with existing customers rather than looking for prospects.
- Expand your business by creating niche divisions.
Go on a niche huntDefining your niche can be the key to a viable business venture.
Zero in on your niche marketIdentifying your niche market is the first step to attracting them to your business. Once you've identified who your target customers are, you've got to ask yourself a few things: Is this market large enough to generate adequate sales? Are you able to reach this market through cost-effective marketing and advertising? Are you able to meet the needs of this market with your products and services?
Develop niches within your businessEven if your business offers a wide variety of services and products to a large portion of the population, you can still benefit from niche marketing. Some of your products or services may be targeted at a specific segment of your customer base.
Get keyword and search engine savvyFinding out which keywords your potential niche customers are looking up can help you determine exactly what those customers want. And by using the best keywords, you can bring customers directly to your site when they use search engines, such as Google or Yahoo. Search engine optimization (SEO) software allows your site to be toward the top of the list when customers perform a keyword search and helps to bring traffic into your site.
- Differentiate yourself while not choosing such obscure search terms that a customer wouldn't even think to type them into a search engine.
- As your brand evolves, so will your niche. Watch the trends in your industry to constantly keep up with what your customers are looking for.