From a digital marketing standpoint, your website is one of your most important assets. Now, we’ve started to move away from this unsuccessful blanket approach and focus purely on our niche marketing, pushing out niche content and using more detailed language that engages our target audience that we weren’t properly in tune with before. What Is Business-To-Business Marketing (B2B)? Choosing the right niche market saves you money, improves your marketing ROI and elevates your chances of earning recognition as a truly unique brand. Broad and general organization are struggling to earn the respect of their target audience. It’s true, there is no way that you can be everything to everyone. It's easier to reach the audience. What’s more, because you’re not just doing the same thing as everyone else, you can rest assured that you won’t have to face quite as much competition to make your brand a household name. Difficulty identifying profitable options: Sometimes, it’s hard to determine how “niche” you should go with your USP. Define your niche (and how profitable it is). After all, the more you know about a particular space, the better equipped you’ll be to serve that sector. A unique audience or “niche market” gives you a chance to separate yourself from the other companies in your space. Everything from your SEO to your PPC strategy can become cheaper, and easier to manage. Companies that define their niche correctly can create highly personalized, emotive and engaging marketing campaigns that strengthen brand loyalty and improve ROI. However, when you choose a niche market, you give yourself a better opportunity to connect with your preferred customer on a deeper level, building the loyalty that will make your company sustainable for years to come. Find out how to syndicate your content with B2C, Blogging For Your Business: 5 Steps For Getting Started, 9 Riveting Statistics That Will Convince You To Sign Up For LinkedIn Immediately (Infographic), 2014 FIFA World Cup’s Goal-worthy Marketing Campaigns, Image: 100 Powerful Marketing Words to Boost Your Brand (and 75 More to Avoid Like the Plague), Image: 4 Types of Customer Segmentation All Marketers Should Know. Not only does a niche market definition give you a chance to step outside of an overly-crowded market, but it also ensures that your business stands out for all the right reasons. I work in a very niche but still consumer market. You’ll need to make sure that you’re delivering something incredible to your audience if you want to transform your brand into a household name. This will help you to refine your marketing channels and invest only in the touch-points your clients are most likely to use. Promotional Marketing: Main Ways and Objectives, Product Marketing: What Is It and Why Is It So Important, Precision Marketing 101, Or How to Find Out Your Client, Personalized Marketing: How it Work and Examples, Permission Marketing: Tools and Pros and Cons, Performance Marketing: Benefits and Evolution, Outdoor Marketing: 7 Benefits of Outdoor Advertising, What is Offline Marketing? A broad, or generalized market means you have a harder time standing out among a sea of similar organizations. The more questions you can answer about your preferred customer, the better. Building and maintaining a successful company isn’t easy – particularly when there are already so many well-established organizations out there for you to compete against. All Rights Reserved. Reach out to Fabrik today! A generalized or “mass-market” promotional plan focuses on connecting with the broadest possible audience in a specific sector. Now, let’s turn this target market into a niche market: gluten-free women ages 18-25 who want to learn how to cook healthy gluten-free recipes. Cap on growth: Once your company becomes the ultimate choice for your niche, your growth will begin to stumble. As valuable as niche marketing is – particularly to smaller companies who don’t have the presence or budget to compete with larger corporations, it does have its downsides. }, false ); Brand Fabrik provides industry insight for today’s busy marketers. The niche of the market, like any niche in general, by definition, is something small, at least imperceptible at first glance. With a niche market, you step away from the other “general” companies in your industry and embrace the full potential of a “specialist” identity. alert( "Thanks, we’re done. As with any other market, you’ll still have competition when you find your niche – your level of competition will just be a little lower. Sometimes, this doesn’t mean that you have to design a whole new product. Because it serves a few customers, the company can focus more resources on exploiting its target market. The difference between defining a target market and a niche market lies within the special characteristic that encourages your audience identify with you. On the one hand, you have less competition, a better chance at earning a loyal consumer base, and greater visibility opportunities when it comes to things like SEO and PPC. Previously, our marketing/brand strategy revolved around trying to encourage new customers so we spread our branding blanket far and wide which ended up with low engagement on social media, not many sign-ups and few views on our website from touch points of the campaign.


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