One of the foundations to any marketing and branding plan is to know your audience. I cannot stress it enough. Knowing your target audience is critical for many reasons, including knowing exactly how to speak and market to your audience. Many people often fear that if that you get too specific or have too narrow of a target, they will miss out on potential business or clients. But there is no way to speak to all people. Just like we don’t look for designer handbags at Walmart, nor do we look for buy 1 get 1 free deals at Bloomingdales. Getting really specific in your marketing and brand position, helps you to build a marketing plan that is sure to work. It helps to create niche marketing, which can be helpful in branding yourself and growing your business.
What is Niche Marketing?
Niche marketing examines a segment of your clients or audience and identifies how this particular audience prefers to buy, purchase or engage. It will identify a niche in various ways; either through industry, skill set, age, interests, purchasing behavior, etc. Once the niche is identified, the company will build a marketing plan around this industry.
One of the things I want to stress is that niche marketing does not mean that you will not focus on other areas of your business. However, it is simply making a decision on how you are choosing to create a specific marketing strategy or campaign.
How Do I Develop My Niche?
A niche will not just fall into your lap. You will need to create it, look for it, develop it, connect it.
1.) Know your USP – Be clear on your unique selling proposition. What sets you apart? What do you bring to the table that is different from others in your industry. Examine your strengths and talents and how you present it to the world.
2.) Know Your Passion – In order for any branding or marketing plan to succeed, you must know your passion. What is that you love to do or talk about? What are you truly good at? Take that and combine it with your USP.
3.) Know Your Audience – If you combine what you are truly good at and passionate about, with a specific audience or industry, you will learn all the factors, specifics of that audience and begin developing programs and services to assist with that. Know their main concerns, not just in your industry, but truly get to understand how your audience thinks.
Once you know the three items above, then begin connecting the dots. This is where you may need a coach to help you work through the process.
Test your niche. Do something of low cost and not too much effort and evaluate the type of response you receive from your intended audience.
If you need any assistance with developing a niche marketing plan, feel free to contact me for more information.