As businesses in Maryland reopen amidst fiscal challenges, the pressure is on to maximize every dollar they spend. Many businesses will be in the middle of formulating plans to draw customers in again, including employing new marketing tactics. The U.S. Business Administration typically recommends spending 7-8 percent of revenue on business marketing. However, if not planned correctly, this marketing spend can yield minimal results. With more niche markets appearing every day, it may be time for businesses to focus more on their most important demographics. With the help of niche marketing, businesses can help their content stand out and improve their chances of brand success, both now and in the future.
Regardless of the industry you are in, the chances are that you will be facing stiff competition – especially with the recent rise of eCommerce. With increased competition, making your brand visible becomes even more important. By focusing on the key segment of the customer market, you can narrow down your strategies for improving brand visibility to target those demographics. One good example: using local search marketing to boost your brand’s visibility locally. For businesses that want to target the local community and embrace a ‘support local’ agenda, local search marketing as a niche marketing tactic can produce great results. Moves like listing your business in Google My Business and using paid search ads that are targeted at local searches can help your brand stand out to consumers when they head online to research businesses.
Consumer trust continues to be a roadblock for businesses both large and small. In Edelman’s Trust Barometer Special Report 2019, only 34 percent of consumers said that they trust the brands from which they purchased. Yet businesses cannot afford to ignore how important a role consumer trust plays in their success. One-third of American consumers say that brand trust is crucial because they cannot afford to waste money on misjudged purchases. Therefore, they are likely to be more careful when choosing the brands they spend their money on – and the marketing campaigns to which they pay attention.
However, with niche marketing, you can create content that targets consumer concerns. With the help of customer data and market research, businesses can now zoom in on the important needs of their niche. For instance, using the most commonly asked questions from those seeking a divorce attorney, legal practices and lawyer website designers can tailor their websites and digital content to answer these questions quickly. Whether it is the inclusion of a legal blog or an easy website navigational layout to address the key concerns, if you can address the needs of your niche audience in your marketing, the results are magnified.
Lastly, niche marketing tactics help is separating your brand from a sea of others. By doing so, you get your intended target audience to notice you. Niche marketing is not just about identifying a segment of the consumer market where your product is most needed, but it also encompasses using the relevant tools and channels to reach them. For instance, Generation Z uses social media for entertainment. Therefore, video platforms like YouTube and TikTok can be very effective channels for your niche marketing campaigns.
A common misconception when it comes to marketing in business is that the broader your marketing efforts are, the better your success rates will be. However, niche marketing provides ample opportunities for businesses to cater to and address the concerns of the market that matters most to them. Focusing on the customers and competitors that are most important to you means your business can achieve success where it matters.