Niche industries can be tricky.
The target audience is often far smaller and there are usually fewer marketing tactics available, because there are fewer opportunities, the budget is often more limited and the product is far more specific.
However, these limitations open a world of opportunities and advantages.
The biggest advantage of niche marketing is focus. With a specific audience, your messaging can likewise be specific and focus solely on their wants and needs. You do not need large marketing campaigns divided into multiple segments, but one or two campaigns which promote your brand in a tailored way to potential customers.
This is three things to consider when doing marketing in a niche industry. Let us set the definition first.
What is a niche industry?
Niche industry or niche market is a specific part of the market focussing on a product or a service. Often is a niche market highly specialized, and the market segment is smaller.
Describe your target audience in great detail
In niche industries, it is not about how many people you reach. It is about reaching the right people, however, the group of “right people” is even smaller.
This is an advantage for marketing, because you can focus your messaging.
How to do that?
Analyze your target audience by asking:
- What do they work with?
- What keeps them up at night?
- What do they want?
- What do they like?
- Where do they get their news?
- What SoMe platforms are they on? Etc.
Chances are you will get a specific description of the people you want to reach. Use this information to find your most valuable unique selling points (KPI’s) and tailor your overall message for their needs.
Choose the right platforms
Post, tweet, snap, stream and upload. The list of distribution on social media goes on and on and you can dedicate a large portion of your work day to maintain social media channels.
But with a specific audience, you do not need to be present on all available social media.
When you analyze your audience, you know what channels they are on.
Chances are they are primarily on two or three. Do you sell medical freezers to laboratories? Then LinkedIn and Youtube is probably the way to go.
Again, this means you can focus your attention on creating relevant, engaging content specific to the platforms. You have time to create world class infographics and exciting videos taking your SoMe efforts to the next level.
Collaborate with others if possible
No man is an island and the same goes for companies – even the ones in niche industries.
Despite the possibilities of a narrow target audience, sometimes you want to go big. Get more exposure and publicity.
A way to do this is to team up with another company. It can be a distributor or a company that resonates with your products.
Reach out to a relevant partner about a co-lab and create a common campaign, event or perhaps even a new product.
Co-labs feed into the sponsorship effect, both of you will benefit from. It creates attention and buzz, and you will both enjoy exposure on each other’s channels.
Some of the most famous examples from larger industries are H&M launching a collection with high fashion brands like Versace. Or when singer Taylor Swift invites a large group of famous models and actors to do cameos in her music video.
You may not have the budget like these two examples, but use them as inspiration. Create a new product or design like H&M – perhaps with an up and coming company. Or create a whitepaper or webinar with other subject matter experts from your industry.
Do you want to learn more about niche marketing? Read our articles, How to find your niche market or Various Marketing Tips for Different Types of Businesses.