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Niche Marketing is one of the best ways to attract the type of clientele you want to the product or services you are planning to sell. Niche marketing lets you focus on a certain group of people you want to purchase your product. With niche marketing, you can cancel out all those people who wouldn’t be interested in your product and direct your attention to those who would.
So, let’s break it down. What exactly is needed in niche marketing?
First, you actually need a product or service, something that is unique and specific enough to attract the right clientele. This product is often a spin off of something mainstream companies sell or something that is in demand in your demographic.
Like camping? Perhaps your product could be a tent small enough to fit in a fanny pack.
Secondly, you need to narrow your market to a specific niche. Look at all the characteristics of people including age, geographic area, personality, income, lifestyle, and marital status. All of these things will be directly related to your niche marketing pitch.
For your small fanny pack tent concept, your niche market would most likely be outdoorsy, adventurous active people, between 20 and 40, with regular incomes (and weekends off for camping expeditions), etc.
Third, find out what resources, capital, land, knowledge, labor, special skills and talents you have for understanding what creating this product entails. Before you can actually begin the process of niche marketing and selling your product, you need to look at the economics.
How much is your fanny tent going to cost? What about labor, resources and marketing? How much money can you set aside for each?
Finally, you’re ready for the fun part- the actual niche marketing of your product. This is when you need to develop a marketing scheme. Aim for types of media your target audience will look at and stick with advertisements directed towards your niche market.
When niche marketing for your fanny tent, advertise in outdoorsy magazines, on online websites for camping and during television programs related to outdoor recreation. Focus on the compact size and the quality of your fanny tent, letting your niche market know that, although it is small in size, it is big in durability.
Niche marketing is all about finding the right consumer for your unique product. Following these four musts on niche marketing, your business will be taking the first steps in the right direction.
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