Looking to distinguish your business from competitors, but don’t know exactly how to achieve that goal? Your answer is finding your business niche with digital marketing. Knowing your niche market makes your business a powerhouse. Suddenly you’ll have less competition, and you’ll see massive growth if you know how to successfully identify grow your target audience.
What is a Business Niche?
A business niche is a specific audience you market your brand to. Rather than trying to appeal to a wide grouping of people, you focus on a sub-group of individuals that are more likely to buy your product.
For example, let’s say you’re a pop music recording studio that’s been marketing broadly to all musicians. You’ll find more success if you market specifically for artists looking to make pop records, than those classical violinists, for example. Getting specific with who you want to appeal to will increase the likelihood that those you’re marketing to will buy your products.
You can start to build a niche by returning to the basics and re-think your current strategy.
Evaluate the Uniqueness of Your Product or Service
In a perfect world, your company would be the only one selling the product that you’re marketing. So you’ve got to think of a new way to attract a specific audience. Try to find untapped markets, unmet needs, and processes that no one has marketed yet.
What is it about your product that can satisfy a very specific audience?
Analyse Your Current Marketing Strategy
Once you’ve figured out what makes your product special for a specific group, it’s time tell this target audience what your product is all about.
If your current strategy is to market to a wide net, you need to think of new ways to entice specific people. To achieve this, make your advertising personable. Directly address this group so they feel like you’re connecting with them specifically. By targeting a niche, you have the opportunity to make your target audience feel special.
Digital marketing is the best way to target a niche audience. Rather than relying on your target audience to all respond to your local billboard, you can create an ad campaign that reaches thousands of people in your target audience online. To miss out on digital marketing is a waste. You’re only neglecting potential income by choosing not to brand digitally.
If your team hasn’t yet launched a digital marketing campaign, introducing yourself to an online niche is the perfect opportunity to start. You can use social media sites to interact with specific users who would most likely benefit from your product. Gain feedback from online customers and learn more about what your niche expects of your service.
Study Your Competition
If you’re going into market to a business niche, you should always determine what kinds of competition you’ll be facing. With the internet, even the smallest market has some players already on the field.
However, there are some markets with more competitors than others. Your research should determine which of the ideas your team comes up with has the most potential to uniquely attract the target audience. It should be a campaign they’ve never seen before. This is how you’ll grab their attention and keep it.
Need help analysing your competition? Here’s 3 Competitor Analysis Tools to Spy on Your Competition.
Launch Your New Digital Marketing Strategy
You’ve identified your niche and drafted a new campaign. Now you’re ready to see results!
Use your campaign to connect with users online and inform them directly about your products or services. Make them not only customers, but subscribers and repeat buyers. Once those connections are made, it’s important to keep up online interactions contact on a regular basis, such as through Facebook Remarketing. Don’t leave them out of your progress- keep them updated with your success!
Need Help Finding that Niche?
Even if you have a team dedicated to finding the best niche for your company, it is still a complicated and difficult task for most small businesses. There’s nothing wrong with calling in reinforcements. If you need help with brand development and targeted online marketing, our team at Soak Creative is can help.
We’re understand that many businesses aren’t experts at digital marketing. Once you have found your targeted market, you still might not know the best tactics to connect you’re your newfound audience.
We work directly with businesses to identify niches and build targeted marketing strategies that lead to stronger branding and higher profits.