Many of you are already niche marketers, growing your business by using your contacts, knowledge and experience in a particular market segment to service the needs of a defined community.
Why niche marketing delivers great business opportunities:
- Your potential client audience expands
For small localised firms, adopting a niche market strategy actually enlarges the pool of new business leads to every corner of the UK.
Action: Define the ideal client niche persona to focus your strategy.
- Price becomes less of a factor
A niche audience is usually less focused on price and more interested in your knowledge and ability to fulfil their particular needs.
Action: Decide if the primary message on your website should change to target your niche audience.
- Targeting becomes easier
You’re much more likely to appear near the top of Google ranking if you offer a specific solution to a defined audience.
Action: Support your Search Engine Optimisation (SEO) by considering the option to test niche targeting with Google Ads.
- Becoming an expert in a particular niche takes less time
Action: Add a ‘lead magnet’ to your website to demonstrate your expertise and motivate your niche audience to leave their details.
- You could get more and better quality referrals
Your niche audience is often a close knit community who network online and meet at regional shows and events.
Action: Develop your referrals strategy to exploit this opportunity. Also consider offering reciprocal referral deals to relevant non-competitive partner businesses.
- Loyalty levels increase as there’s less competition
Action: Calculate your niche customer’s average lifetime value in order to help to determine your recruitment budget.
Any business that is good at matching the right product to a customer’s needs can do well here. The key is to match your expertise with a defined audience that is looking for specialist help and support. Then develop a relevant market proposition and deliver it via well-trained, passionate and experienced staff.