The Necessity of Finding a Niche Market: Focused Online Marketing at its Finest
You can’t please everyone. This old adage has been drilled into our heads by our parents and our parents’ parents. It couldn’t be any truer than when you’re marketing products or services. Online marketing is doubly hard if you’re trying to reach too many consumers. What is niche marketing and how do you get to it effectively?
Niche marketing in a nutshell
Niche marketing is simply the ability to pinpoint who exactly you’re trying to sell your products to. Your main idea might have been a “clothing line”, but this isn’t much to go with unless you’ve figured out the gender you’re trying to sell clothes to, the age group, the social class, and the earning capacity. Once you’ve figured those out, you might even want to give your target niche a name, say Victoria, and give her a personality. The more narrowed down your niche market is, the better you’ll be able to direct your marketing efforts.
Is it too limiting?
Niche marketing is never too limiting. Just because you’ve narrowed down your ideal consumer doesn’t mean you have to stop selling your products to people who are outside your niche. As a matter of fact, attracting people who are outside your niche is a good sign. This means that although you’ve concentrated your efforts on pleasing your target market “Victoria”, your products are still good enough to attract other consumers as well.
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The giants in the industry started out with a single Victoria. Later on, they expanded and sold other brand lines catering to other, extremely specific target niches. You’re allowed to dream big even if you started out small.
Is a specific niche the key?
Not always. Sometimes, you also have to consider how many Victorias are actually out there. Marketing research is a must even if you’re not paying for overhead on a brick-and-mortar store. Buying the products you’re going to sell still costs money. Make sure that you get to at least break even before you shop for your store.
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