If you’re running your own business then you will have discovered trying to attract a wide customer base with your marketing can become costly. When planning your initial marketing strategy it’s best to find a niche area to focus on and devise your marketing strategy around that niche.
Trying to market to a huge audience will require a larger investment and may not yield great results as you are spreading your marketing message too thin. Niche marketing can be a low risk way to grow your business if you follow the basic rules. We have outlined 4 of these must do rules for your niche marketing campaign:
Understand & Meet your Customers Unique Needs
Ask yourself some core questions to uncover your unique selling point (USP) which will be key to your marketing strategy:-
What are you providing for your customer that’s different and stands out? Think deeply and identify ways that your service or product may have a special appeal to your niche market. What is new and compelling about it? These points will be your unique selling point and will be used in your marketing strategy.
Speak your Customers Language
Understand your niche markets “hot buttons” to attract your customers attention, then you need to speak in a language they will understand. You must speak to your potential customers by addressing the key issues they are having and communicating to them how your business can solve them. Build a rapport with your audience and a sense of trust, this will ensure that you will be the first business they think of when they need a product or service like your business provides.
Assess the Market
What are your competitors doing right now? Create a detailed market analysis of your competitors to see what they are and are not doing. This will give you an idea of gaps in the market which you could use as your unique selling point. You may find that there are no other businesses out there doing what you are about to try as your niche product or service, this may be that it has been tried already unsuccessfully. Use test market to gauge how receptive the market is to your service or product and if this is possibly the case.
Marketing is a process that takes time, success is not instant and does not occur overnight. You need to be patient and plant the seed in the minds of your target audience. Marketing can take up to nine months to start seeing results but once you establish your business in your chosen niche, the results will be worth it.