Some may say I’m crazy to suggest Niche Marketing and Mass Marketing are so similar that one may become the other but if you think about it, small businesses are broadly targeting narrow markets.
Niche Marketing is selling to a certain target group or sector whereas Mass Marketing is selling various products to a broad range of people in different sectors. The latter used to be the most effective but with the way marketing has changed over the past three years, we are seeing Niche Marketing provide better results.
With Social Media as influential as it is; it has made Niche Marketing the all-important marketing concept for 2013. People are turning to social networks and blogging sites to share passions and interests and are searching for content related to these passions.
What are the advantages of Niche Marketing?
- Less Competition and tailored promotions meaning you spend less on advertising.
- Helps develop a strong brand and customer loyality
- Your strategy is targeted meaning your products will only target those who would be interested in purchasing them.
The secret to exploiting a niche market is to find a fast growing target that has customers who are accessible but are trying to find that service which is yet to be offered.
When Gloople was first formed in 2011, we found a niche in the market. We are the World’s first Social Sharing eCommerce Platform. We offer something that isn’t offered anywhere in the world so our customers will be loyal, mainly because there is no business offering what they want.
Niche Marketing Tips
- Not everyone is going to love you – Take the TV show Arrow for instance. Not every single person who watches TV are going to enjoy Arrow. You can’t let this phase you as you can’t pleasing everyone. Focus on pleasing those who are loyal to your business as those are the customers you should value.
- Niche Marketing to Multiple Niches – You may have two different products, say a face cream targeted for those with acne and an anti-aging cream. Those who suffer from acne will not want the anti-aging cream and vice versa. This is your chance to show versatility however, you will need two different marketing strategies.
In a recent blog I wrote, I shared some great statistics around Small Businesses and how they are the root of our economy and it is likely that a large amount of those businesses use Niche Marketing to sell their products. Something which was so popular like Mass Marketing has now been replaced and improved by Niche Marketing.
Are you a Niche Marketer or a Mass Marketer?