What’s the first rule of marketing? According to the handbooks, it’s “find your niche.” Once you have it, you can then start to sell to the right audience. Before long, you’ll have a monopoly and the company will grow from strength to strength. There’s one problem, though: getting it off the ground.
Niche marketers often struggle to start the process because making a mark is tough. In fact, an abstract industry can feel like a disadvantage. All you need is a push in the right direction. So, get ready for a shove because below are the golden rules on how to sell in an abstract market.
Target The Perfect Audience
Every business gets this piece of advice, but it’s as important for you than anyone else. Why? It’s because there is no crossover. Poseida couldn’t possibly find a lane if they didn’t target genome industry experts. By clicking here, you can see how they get the balance just right. The key is to focus on who needs the product or service as they will be the ones investing. Write down the demographic and what sets them apart from the rest of the audience. Are they professionals? Are they suppliers? Do they need a solution to a problem?
Build On Current Foundations
One mistake niche marketers make all of the time is to believe they have to start afresh. Their technology is unique, so the product or service has to follow suit. Yes, it helps, but it doesn’t have to be the case all of the time. Take a Dyson vacuum as an example. Vacuum cleaners existed long before the spinning tech, but that didn’t stop the company from becoming a global hit. What they did was to build on the current work by others and add to it. Then, they advertised the technology as the unique selling point.
Offer A Solution
Probably the main theme with niche products and services is what they offer. Regardless of the industry, they provide a solution to a problem which has existed for a while. Think of all the new vegetarian and vegan food brands which are popping up and skyrocketing. People don’t want to eat meat because it’s animal cruelty and bad for the planet, yet they want to enjoy their food. Tasty, organic meals fill a hole while also easing their customers’ conscience. When a shopper asks a question, you need to come up with an answer.
Normal lanes of advertising aren’t as effective for niche brands because it’s not a general product. There are people out there that want the product, but they are fewer and farther between than usual. Therefore, pay-per-click advertising is essential as it puts your marketing plan in front of the right people. After all, you can choose the platforms. Some general tips include optimizing the strategy for mobile and researching your keywords. Like real estate, niche marketing is all about the location.
So, does your niche seem like a disadvantage now?