Niche marketing

Niche marketing is a highly targeted form of advertisement. 

With niche marketing, businesses promote their products and services to a small, specific and well-defined audience. Many organizations adopt this strategy to support an underserved population and reap the rewards of brand loyalty. 

To engage in niche marketing, companies must first understand their niche. Markets with the “niche” definition are subsets of larger markets with their own unique preferences and needs. For instance, the “makeup” sector is broad, but within that market, there’s also makeup for problem skin, makeup for professional artists and so on.

Defining a niche market

Consumers in a niche market have specific preferences or needs that differ from the broader sector. Brands divide almost every market into subsections according to things like:

Niche marketing is often easier than promoting to a wide audience. Niche audiences have very specific needs and wants. For instance, a company that simply sold handbags would need to appeal to a broad range of tastes and expectations. However, a business selling handbags for new moms that also work as diaper bags have far more focus. Niche marketing has also become easier with tools like Facebook ad targeting and social media monitoring.

The benefits of niche marketing

Niche marketing allows companies to understand the specific needs of their audience and speak to them directly. Since niche marketing is all about making the right connections, many social media channels have improved their targeting options specifically for niche markets. With niche marketing and a social strategy, companies:

How to market to a niche 

Niche marketing allows companies to carve an essential space for themselves in a broader market. Some businesses even create new niches by discovering and fulfilling customer needs that haven’t been addressed. To engage in niche marketing, organizations need: