Niche marketing is essentially a more involved method of target marketing in which a business focuses on an area or aspect of the market with thin competition. The goal is to find a specific client base which other businesses have overlooked.
Though on paper the target market will be comprised of a lower volume of customers, a niche approach distinguishes your business and establishes solid relationships with clients, ones who will remain loyal in the long term. After all, you are offering alternative solutions, even if not necessarily more affordable, for the improvement of the quality of life.
Modern healthcare services exhibit niche marketing’s effectiveness best. In this sector, startups flourish by providing conferencing sessions for smaller clinics and hospitals. Conferencing is a sound niche marketing model as it aids physicians, nurses, and patients alike by increasing access to medical information and promoting health education. In effect, you establish yourself as the go-to source for teleconferencing. Looking at the bigger picture, niche marketing therefore means filling a certain void.
Niche marketing complements other target marketing strategies such as email-based approaches. It also supplements approaches to more traditional markets, effectively expanding your business’ coverage and scope.
eTargetMedia helps consumers reach highly responsive prospects through the company’s exceptionally accurate and superior database that includes transactional data, lifestyle data, and the purchasing behaviors of over 150 million customers. More on the benefits of target marketing here.
Sources:
https://thrivehive.com/niche-marketing-small-business/Image source: cantieriedili.net
