The answer actually forms the start of a strong and effective niche marketing communications program. Niche marketing is all about reaching people who already might be interested in your products.
You can have a great product with a strong message, but the campaign is nearly worthless unless you’re reaching the right people. A niche marketing communications program is all about pursuing quality leads, not quantity. It’s not about securing big analytical numbers. Instead, it’s about reaching the right audience with the right message.
Niche marketing means targeting a specific market rather than a blasting information to the universe, hoping someone out there will pay attention. Here’s a cautionary tale:
Years ago, a colleague pursued and placed an article in two trade publications. One covered general industry; the other focused on a specific market.
His client celebrated when coverage in the high-profile, general-industrial publication generated more than 100 leads were secured from the high-profile general industrial, high-circulation journal. The niche publication generated only 20 leads. On paper, no comparison, right?
Think again. The niche publication secured 20 qualified leads that turned into 15 customers. Meanwhile, the high-profile industrial publication secured only eight qualified leads and two customers.
This means the client wasted its sales team’s time, money and energy pursuing the 92 unqualified leads from the general industry journal.
In another instance, an associate launched a YouTube video that wound up getting 78 views, which is tiny compared to the latest music videos generating millions of views. But, the client was overjoyed with those 78 views. Why? Because the video reached the right audience for a very expensive product.
Niche marketing requires you to carefully focus your efforts and budget, and not spread your resources too thin. By doing this, you can develop a highly targeted strategy and message to reach a larger percentage of prospects more likely to use a service or purchase a specific product. Both tactics and investment can be succinct and directed to market conditions.
Keep these key factors in mind when you set out to develop solid niche marketing programming:
- Industry Demographics – Identify market relevance, buying interest, trends, sales cycles, key events, etc.
- Titles and Psychographics – Investigate shared activities, behaviors, opinions, attitudes and values of customers. Also, consider ranges for age, gender, income, occupation, education, ethnic background and ownership.
- Behavioristic – Determine benefits sought, usage, loyalty, prospect or customer status. Note, targeting new prospects is also different from targeting brand-loyal customers.
- Geography – Target market by country, regions, states and provinces, city size, population density and types of location such as urban, suburban or rural. Note, culture will affect communication requirements. For instance, targeting a rural market of 10,000 customers is much different than targeting an urban market of 100,000 customers.
By concentrating fully on niche marketing, it is easier to learn about new products, innovations, trends and ideas in the specific market. This helps you create new opportunities by selling similar or support products to an engaged customer base.