Niche Marketing

Competition is getting more intense, making your product a commodity.  Your costs are rising and your prices are falling.  Is this your reality?  Are you letting the competition drive your reality?  It is time to rethink your strategy.  Which is better for promoting a niche business, an appearance on the today show or a popular pin on Pinterest? 

The company Camibands appeared on the today show.  The product is a cleavage cover for women.  After the today show they had 3500 hits on the website and plenty of orders.  Later that year users of their product pinned images of the Camiband.  This resulted in 40,000 hits to the website.  Remember your focus. 

The next step in a customer-centric business is to define its niche market.  Most small to midsized businesses do not have the financial or personal resources to compete on a large mass marketing scale.  You are the specialist in providing a product or service that solves a customer concern.  The advantage of niche marketing is your focus on the concerns of the niche and how to solve them.  Many companies have a target market but that is not the same as niche market. 

A target market is focusing on a select demographic such as pet owners, brides or one of many market segments.  Niche marketing is where you focus on a select customer-concern in a small select demographic.  An example would be your dogs need for exercise.  This would lead to a niche market for dog walkers. 

The niche marketer is an expert in solving the needs of its members.   Accelerated technological advances in business have improved supplier production.  This is a situation where supply exceeds demand.  Niche marketers make the competition irrelevant by adding a value proposition.

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