Mar 05, Piyush Suri | 3 min read
As a marketer in today's competitive market, your core task is to deliver desired satisfaction more efficiently and effectively than your competitors. Differentiation is becoming harder to communicate and hence mass marketing strategies like Print, TV and Outdoor Media are seeing a global decline in popularity.
Let’s break this down; anything that is done in large numbers and with ‘one size fits all’ approach is a mass marketing strategy, be it online or offline.
You could use the same medium e.g. online, but still, have 2 very different approaches to communicate.
This article suggests that while mass marketing can get you numbers, it is more effective to address a smaller audience with a more tailored message.
Like in a classic game of Monopoly, names like Pepsi and Toyota practice mass marketing successfully firstly, because of their enormous coverage on the global market and secondly, because they grew in an era where consumer attention was cheap and easy to get.
Most of the brands today, don’t have that luxury.
We need to hustle hard for attention and relevance.
Let’s look at the strategies a brand needs to adapt to stay part of the consumer conversation.
You can call this target group, audience or with several other names. It’s important to define your target audience with more specific details other than just demographics.
The team at Hubspot has built a lot of tools and ideas on how to narrow down your ‘buyer persona’. You can check this out here.
Building a tight matrix of your buyer’s personality is very effective in understanding their needs. This is helpful in not only all communication strategies but also the channel you use to market them and the future products you launch.
Niche marketing is all about going narrow. This doesn’t mean the depth or effectiveness of the marketing campaign needs to suffer. This also means you’re more in control of your campaign and can take important feedback to evolve the campaign.
Going deep requires you to find a very large pool of the buyer persona you have developed. You can do this via targeting different geographies/cities for the same buyer persona. Remember audience scale is still relevant while you’re going narrow.
The secret to exploiting a niche market is by communicating effectively with the problems you are solving. Use emotional triggers; words which your audience relate to most, to communicate and engage with your content.
As Seth Godin says in his book, the Purple Cow; “as consumers, we’re too busy to pay attention to advertising, but we’re desperate to find good stuff that solves our problems.”
Emotionally powerful words and images have the power to truly transform the perception of 'problem-solving' for your brand. Niche marketing is all about using content that people connect to, the more strongly they relate to, the higher the chances for them to take action.
The world is your oyster. Just because you are a small business in a niche market does not restrict you from expanding. There will be pitfalls on the way and not everyone is going to love you, but you are not here to please everyone. Focus on satisfying loyal customers who form the root of your business and improve your services for them.
Stability is great but experimentation has the power to open new opportunities that will help you expand. So while you maintain the quality of your services and standard of the brand, you will gravitate to build a better organization with the power to make a global impact.
Please share this with someone who may find this useful