Having a product that appeals to a mass market may have its perks -- Steve Jobs certainly thought so. But having a niche audience can give you the business advantage to help your business succeed on smaller budgets. The market may be less crowded with fewer competitors, your marketing budget can stretch further and you have the opportunity to really get to know and understand your customers. So if one size in fact does not fit all, how do the top companies do it? Here are five things to consider when marketing to a nice audience.
1. They Know Their Audience
Niche markets have the advantage of knowing where their customers are, but it’s important to go beyond demographics. Understanding your customers’ buying journey and pain points can help you create a compelling marketing plan that will guide them in their buying journey.
Establish personas for your brand. Speak to existing and prospective customers and understand what they do in their free time, what types of media they consume, who influences them, etc. Once you establish these personas, you can begin to tailor your promotional activity that you know will appeal to them.
Tip: You can help establish your audience persona using a range of listening tools such as Hootsuite. This online platform allows you to monitor social media sites such as Facebook and Twitter which searches for hashtags that may mention your product or brand. Having access to these posts in one spot will allow you to respond accordingly and help to establish a one on one relationship with your customer. Personalisation plays a huge factor with a niche audience; you make the customer feel heard and appreciated.
2. They Have an Authoritative Voice
The Internet is becoming increasingly cluttered with mediocre content and brands shouting to be heard. Having an authoritative voice in the form of an expert or an ambassador makes your brand the go-to for quality and reliable content.
Online pet food delivery service Petcircle has a resident vet who blogs about a range of topics that pet owners can go to as a reliable resource. Dr. Elise Barry writes about nutrition tips, behavioural problems and general health and wellbeing to keep pets happy.
3. They Know Which Channels to be on
With new social media apps popping up every week it’s tempting to sign up for the latest thing but it’s important to find out where your customers are hanging out. Snapchat and Periscope may be the new buzzwords but there’s a chance that your target audience is spending most of their time on Facebook.
Social media can be time consuming. If you have limited resources, consider channeling your focus into 1-2 social media channels. Many social media tools such as Instagram are instantaneous and require consistent monitoring. Make sure you have the resources to interact and respond to the community. You can also use tools such as Latergram which allow you to schedule and upload prepared posts. This time saving site will give you more time to engage with your audience.
4. They Look Overseas for Inspiration
Like the fashion industry, Australia will always be six months behind in the latest trends. The secret to knowing how to evolve and be the best in your market may be looking offshore. Often what companies are doing successfully overseas is a good indication of what may work onshore.
Cultural differences play a part in knowing what will work but if you can pinpoint a similar and successful niche product overseas you can use this as a source of inspiration: “Within the pet industry, people in the U.S are moving away from the science formulated diet for animals and prefer feeding their pets more natural products or 'wholefoods.' In this scenario, you only have to look as far as how humans are beginning to change their eating habits to predict how it will permeate into the pet world.” says Michael Frizell, Founder, Petcircle.
5. They Speak the Right Language
Companies who know exactly who their target audience is will know how to speak to them. They will pick images that will captivate personas, adopt a tone that will resonate and use words that compel them to take action. If you have taken the time to create personas for your business, setting the language should be an easy and necessary task.