Niche marketing is the fine-tuning of your marketing to focus on a specific demographic of customers and/or products and services you offer. More simply put, it means a business is choosing to play to its strengths and highlight them for the people with whom it will resonate the most. Niche marketing affords many benefits, but finding your niche market isn’t always easy. In fact, you don’t always “find” your niche market. Sometimes it finds you. In this post we’ll go over some examples of niche markets to help you start thinking about what a niche strategy might look like for your business.
Why Niche Marketing?
Finding and catering to your niche market can help your business growth in many ways. By specializing in a particular product, service, or market, you effectively distinguish your business from its competitors. Another nifty thing that niche marketing can do is help you to get the most bang for the buck for your sometimes limited marketing budget.
Knowing that you need to make every marketing dollar count, niche marketing can help you to abide by the Pareto Principle, better known as the 80/20 rule. This theory purports that roughly 80% of your results will come from just 20% of your efforts. When applied to marketing in general, that means 80% of your efforts are not directly tied to your results. In other words, less is more, and this is where niche marketing comes in.
Google My Business and Niche Marketing
Your Google My Business profile can help you with niche marketing. This is because your profile gives you the opportunity to highlight specific features about your business—which are often the very factors around which different niches form. For example:
• If your niche includes upper-class/wealthy individuals, include terms like “high-end” in your Google description.
• If your niche consists of busy moms with a tight schedule, make sure your holiday hours are updated or that you answer scheduling-centered questions in your Q&A section (Do you have an after-hours drop box?)
• Your profile will automatically help you to target your geographic niche since it includes your location
Is your profile complete? Use our free tool to find out.