June 15, 2016
Everyone isn’t your customer.
This blog is third in a series, a continuation of How Businesses Can Effectively Compete on the Web, that will take you in-depth into the strategies and tactics that can give businesses a competitive edge. In the second blog, we took a deeper dive into one of the most powerful drivers of the digital business world, SEO. Now, let’s look at how a targeted message can help you grow a powerful following.
In the 1960s, television advertising hit its peak popularity and effectiveness. There were only a few channels to watch and each network could guarantee that a commercial broadcast during prime time would reach a huge captive audience. In the age of Facebook and specialized online media, that is no longer the case. Consumers are flooded with information and opt into the information they want to receive. The more specialized and targeted our information becomes, the more the marketing adage, “You can’t be everything to everyone, but you can be something to someone,” rings true.
If you’re struggling to connect with your potential customers online, it’s imperative that you find and connect with the specialized audience that needs your services. They aren’t always easy to find.
To be clear, you don’t need to change your business model, products or services. But it may be helpful to craft a message around those services to make them easily connect with customers.
Choosing a niche marketing strategy may mean focusing your marketing efforts on:
- A smaller geographic area
- A sub-demographic of customers
- Your leading service
After focusing on a niche market, you can always grow and expand – but narrowing the focus of their market can often help businesses gain traction as they build the early stages of their digital marketing strategy.
Focus your efforts to gain traction
As a small or medium business, you might feel like you’re playing catch up against larger companies, so it’s tempting to serve everybody. Instead of spreading your marketing efforts too thin, it’s important to focus on what you do best and choose to connect with a demographic of people who will buy that service or product.
Find out what is important to them, what magazines or blogs they read, where they shop, who they admire in their networks. You can develop a marketing message that directly connects your products or services specifically to this group, based on your in-depth knowledge and understanding of its interests.
Identify powerful partnerships
As you narrow your focus on people who want your services, and can afford them, it will be easier to identify potential clients and partners to work with as you can be more targeted with your marketing efforts.
Become an expert in your niche
The internet overwhelms people with information, and trust has become the primary driver of sales relationships. Being an expert in your niche will set you apart from larger competitors that positions themselves as generalists who know a little about a lot. Your target audience group is smaller, so you will quickly become well known within this group of people.
Build on referrals
As you build a following, you will become a big fish in a slightly smaller pond. It will be easier for your audience to understand what you do and how your services or products can help others. It is easier to refer more and better clients to you when your marketing message is clear and focused. You will build trust and credibility when it is clear what you do, and that can help drive word-of-mouth marketing.
More repeat business
Providing an increasingly better service or product within a niche results in great customer feedback. When you are an expert in your field and well-known for your services and community, it’s likely that you will get more repeat business. People who feel they got great service from your business will come back for more, and often will start spending more with you as the relationship grows.
Save money on marketing
Niche marketing is cost-effective. For instance, if you are offering a product for a selected demographic, you could advertise the product using local media so that marketing budget goes further, allowing you to use a more comprehensive media mix. Niche marketing works well when you understand the market.
Understanding the market means you are able to identify the unique needs of your potential audience, provide new and compelling products, tailor your products in the right way, communicate efficiently with the target group and identify how you will position against your competitors.