The Key to A Successful Niche Marketing Strategy

Marketing Strategy

 
Niche Marketing:

A successful niche marketing strategy will include several factors. While the first might seem obvious, but people tend to overlook it. You need to identify the target market for your niche.
 
Having a clear picture of your potential target customers are is critical to your success. It will help guide you as to where you "target" your advertising budget.
 

Television as an Advertising Medium

Television advertising is expensive and small businesses seldom use that venue. But, just as an example, a cosmetic company knows that women
are their target market. Because of this, they advertise during shows that women like. Pharmaceutical companies often use Television as an advertising medium. If the drug being promoted were for men’s hair loss, they might advertise during sporting events.
 
A company that sells outdoor grills might advertise on HGTV or Food Network. Companies that sell sporting goods typically advertise on ESPN, or during sporting events broadcast on the major networks.
 
Toy companies typically advertise during cartoons, a practice that has been the subject of more than a little controversy. It is still a valid example. Cereal companies see this as a great opportunity to advertise during cartoons and children's shows as well as well.


Billboards
 
Do your customers commute? The more you know your potential customers, the better you can target your advertising. Companies that sell products that would appeal to commuters might advertise on billboards or in subway terminals (ie: a radio show or "podcast" on a sign that you can rent for a short period of time.) 
 

Events

Knowing the average age of your potential customer can help you develop a successful niche marketing strategy. If you sell products that appeal to teenagers, you might advertise on a pop radio station or sponsor a free concert.

 

Internet

Now, let’s look at internet advertising for a moment. There are millions of websites. You can choose to advertise on any or all of them, depending on your budget. But, where are your advertising dollars best spent?
 
If you’ve been paying attention, you already know the answer. You want to advertise on sites that are frequently visited by your target market.
 
An internet niche marketing strategy might also include signing up for Google Adwords. The program allows you to choose certain keywords that best describe your target market or your product. Your ads will be displayed on relevant websites. You can even specify the websites that you would like to advertise on.
 
You might choose to become a sponsored result for any of the major search engines. When a potential customer types in a phrase that describes your
product, they will see a link to your website.
 
What you can do depends on your budget. You might contact informational websites that provide free information your target market would be interested in. The cost of that kind of advertising is usually very low.
 
Writing a blog might be a part of your niche marketing strategy. Once you become familiar with your target market, you should have a better idea of where to go from here. The more you learn about your target market the more ideas you will have about targeting your advertising to this niche.

In conclusion, a successful niche marketing strategy requires that you answer two questions: who is my customer (describe in as much detail as possible & what medium of advertising is he/she most likely to see?

 

Follow ContentCupboard on:
Facebook Twitter
 
Subscribe
Helpful Suggestions Newsletter
Free suggestions for your online business. We respect & honor your privacy.