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How to be Successful in a Niche Market

Being successful in a niche market can be challenging, but it offers many opportunities to connect with your audience which prove even more difficult in the wider market.

The uncertainty that comes with trying to appeal to a mass market is taken away, with an engaged, targeted audience readily available to reach out to, if you know how. But, with this in mind, what can your business do to be successful in a niche market:

Connect with the Customer

One of the key positives of being in a niche market is that it’s much less competitive and that you already have a deep understanding of the specific wants and needs of your customers. From what they’re looking for, to what products they won’t like and how they like to purchase, a niche market means you already have a customer base. Creating customer personas for a niche market is then much easier and helps you to put together an accurate marketing strategy using demographics, behaviours and interests. As your market is so small, going to extra detail on the lifestyles, passions and goals of your customers so that you know them inside out it vital; everything from their political views to the newspaper they read should be considered.

How Can I reach Out to My Audience?

You can reach out to your smaller and easier to target audience by:

  • Joining their groups online
  • Using social media
  • Selling more than just a product, sell a solution to a customer’s problem
  • Developing a unique selling proposition
  • Finding out what the competition are offering and identifying what’s missing

Work on Your Content

One of the main perks to targeting a niche market is that you can target everything at a specific audience. This is particularly important when it comes to your onsite content. From topical blog posts to industry news and being able to optimise your text with key words that are really specific, you know exactly what kind of content your audience are looking for.

When it comes to social media, this is a great opportunity to connect with your niche audience further. Use industry related hashtags on Instagram and Twitter to make sure that you’re trending in the relevant fields.

Developing a Unique Selling Proposition

Even in niche markets you’ll face strong competition. You need to determine what sets your business apart and why customers should choose your brand over the others. This can be hard to do in a niche market when there’s a limited type of products to offer, but focusing on how you can be the best with your offerings and how you can offer something that’s different and more effective here is key.

Review your Approach

The detailed customer personas you have built your strategy around will tell you a lot about your customers, so you should be able to determine how and when they like to shop. Tapping into this can be really beneficial. Using PPC advertising is an example of this, as it works better for industries which are less saturated, as your niche will be. Being able to run a high targeted campaign will mean your products reach the right people, helping you to achieve great results.

Being successful in a niche market is all about knowing your customer inside out, delivering the right product and giving something extra that the competition isn’t. Avoid generalised marketing strategies and campaigns and focus on your unique selling point, then run with it. Once you have a loyal following of customers you can use content to keep them engaged and prompt them to share your product with other potential customers who could benefit from the product your niche business is offering.