If you’ve been selling anything online, odds are you’ve heard some mention of niche marketing. But, do you really know what it’s all about? If you’re like many business owners online, it can be tough to set yourself apart and really figure out the best way to get ahead in the competitive online environment. However, with niche marketing on your side, you’ll find that finding qualified customers becomes easier than one might imagine. This week, let’s take the time to consider what it’s all about and how you can benefit from it in your business.
Developing a Niche Brand
Competing with big brand is hard.
That’s right; I’m not going to say otherwise and anyone who does is either lying, or they’re a fool. With the market as it is today, many industries are overloaded with competition and going toe-to-toe with the big industry giants won’t end well for you -assuming you don’t have a large chunk of change lying around.
However, there is a way to avoid this struggle all-together. That way is niche marketing.
What is Niche Marketing?
What if instead of trying to compete with those established industry brands you instead re-wrote the rules of the game? Rather than try to pump all that money and do a general industry approach, it’s time to niche down.
According the Mirriam-Webster dictionary, niche is defined as “a specialized market.” At least, that’s the definition that’s relevant to business.
More specifically, what business owners do with niche marketing is position themselves as a specialized type of industry leader. Rather than target everyone who might have an interest in that industry, they focus on one segment of the customer base. And, while the potential audience may be smaller, the ability to reach that audience is much larger.
For many businesses online, this starts by building a client avatar.
Identifying Your Ideal Client
If you’ve never built a client avatar before, here’s a helpful aside.
I actually wrote an article that walks your through the full process. In short, you want to identify exactly what your best customer would look like. His/her interests, goals, hobbies, background, etc.
Really, go check out my client avatar guide.
Develop Your Marketing Strategy
Once you’ve identified your client avatar, the next step is to really go into detail on how you’re going to reach this client.
Knowing what they like and dislike, it should be much easier to create marketing materials that appeal to this niche audience. And, when it comes time to spend on your advertising budget, you’ll find you can target this smaller audience for a much lower price.
Here’s where the magic happens. While a traditional business might do a broad approach to appeal to all potential clients, your message is laser-targeted.
In effect, those who hear it feel there’s a much more personal approach. More important, they get the feeling that you can actually provide the service that works for their specific needs. Once you have a plan for that, it’s time to execute on the plan.
Building A Funnel Around Your Brand
For any business looking to grow today, a sales funnel is an absolute must. And, we’re not talking about that old sales model that just considers where prospects are in the process.
Instead, when you talk about niche marketing a sales funnel usually refers to an online destination where you send traffic.
I’ve talked a lot about building sales funnels in the past, but here’s the basic overview:
- Design an attractive page.
- Offer something of value in exchange for a name and email.
- Thank them, send the thing of value, and mention your paid product or service.
- Follow-up with your prospects via email.
Sure, that’s a simplified description. Read more about selecting the best sales funnel builder and you’ll have what you need to get started.
Get Started with Niche Marketing
Like anything else in business, sometimes the best way to get started is to consult someone who’s already done it.
At Macolino Enterprises, we take pride in helping companies break the mold with branding gold. Our niche marketing strategies are A-1 and our attention to detail is unmatched in the market today. So, if you’re looking to get started and want to stand out from the crowd, simply fill in the form below and someone will be in touch shortly.