Interviews with Successful Online Marketers & Entrepreneurs

Know Your Niche: Marketing A Niche Business

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Targeting a niche market might seem trickier than targeting a wider audience, as you have far fewer potential clientele. But in fact going niche can have its bonuses over going mainstream as specific audiences gather in specific places, unlike a mainstream audience in which you’re practically relying on every passer-by. For those who own a niche business, here are a few marketing methods that could be of benefit to you.

Choose specialist marketing companies

When choosing to work with a marketing company, it pays to work with a company that knows your niche, one that doesn’t have to spend hours researching your niche and attempting trial-and-error methods. For example, there are some marketing companies such as Industrial Marketing Works specifically aimed at manufacturing companies. When shopping around, ask whether the marketing company has worked with your trade before, or read reviews and testimonials on their site.

Join specific community groups

Niches often attract specific community groups, which are ideal places to market, as you have all your target audience in one place. These could be conventions (chilli festivals, fitness fairs, gardening conventions) or online community groups (car forums, Facebook community groups). Stalls at specific conventions, posters in specific locations, PPC ads on specific websites and reviews in specific publications/blogs can all help you to target your niche. These groups are also great places to network – you may meet other related niche businesses that are willing to cross-promote, or prominent figures within your niche that could have more influence. The trick is to not cast your net as wide. Take a harpoon approach to marketing instead.

Monitor competitors

One of the great wonders of being a niche business is that you have fewer competitors. As a result, you can keep a closer eye on these rival businesses and their activities. You should keep an eye out on their social media pages and website for marketing strategies, promotions and new offers. This will allow you to keep ahead by offering services they don’t or play catch-up if they discover a trick you haven’t. You should find a way to brand yourself that separates yourself from them. If your services are cheaper, boast about being affordable. If your services are more expensive, brand yourself as a luxury service.  

Be open to new opportunities

A risk of running a niche business is that your niche may die out or be replaced by a newer trend. Technology and popular culture is constantly having this effect – smartphone apps and online tool killing off the need for various products and services. Moving with the times can avoid this from happening. Similarly, be aware of when older trends become retro and popular again. Many vinyl shops moved onto CDs and then had to consider closing down once digital downloads and streaming took over – however some noticed a rebirth in the sale of vinyl and were keep open by latching on to this trend.

 

About John-Shea

Internet Marketing Entrepreneur