Niche marketing is a very specialized form of market segmentation. Therefore, let us consider how to create uniqueness through niche marketing.

To begin, look at these related articles:


Use Targeting to Create Uniqueness Through Niche Marketing

For today’s post, we turn to a discussion by Nick Schaferhoff, Editor in Chief at WebsiteSetup: 

A niche market is a chunk of a larger market with distinctive characteristics. Such as price, demographics, psychographics, and geographics. You can define a niche market based on many different factors, including:

  • Demographics (age, gender, income range, etc.)
  • Geographics (specific city, country, or area)
  • Psychographics (values, interests, lifestyle, etc.)
  • Price (luxury, moderate, discount)
  • Quality (premium, handmade, economical)

A good niche market combines high market demand, high-income potential, and low competition. It should also ideally something you are passionate about and have expertise in.

Here are the main advantages of focusing on a niche market:

  • Less competition: When you have a highly specific offering, fewer companies offer the exact same one.
  • Brand loyalty: Having well-defined target customers will allow you to better market to them. By applying personalization. Which leads to brand loyalty and increased customer retention.
  • Lower marketing costs: Focusing on one customer segment requires a smaller investment. For both identifying and understanding your audience. Since you’ll only use channels and strategies that work for them.
  • More visibility: Having a unique offering will make your brand stand out. As well as help you get featured in media outlets.
  • Authority: Serving a niche market will position you as an expert in that space. Thus, your authority will become your competitive advantage.

Now, dig into the following infographic on niche marketing.

Create Uniqueness Through Niche Marketing

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