The bigger the market, the better. Because that means you will be able to reach a large number of customers…
To be honest, it’s not always true because sometimes the smaller the market and your product/service that meets the needs of the customers in that small market, the better it may be.
In this article, I will take you to get to know a marketing strategy for a specific group called “Niche Marketing”.
“It doesn’t have to be the biggest. It doesn’t have to be wider than anyone else. But it’s the right brand. for your customers”
- Deep dive into the 4P [ Marketing Mix] marketing strategies that help design products that will appeal to the target group.
- Get to know the Customer Journey, techniques that turn viewers into customers and referrals.
What is Niche Marketing?
Before starting to explain what Niche Marketing is, let me start by explaining the word “Niche Market” first.
A Niche Market is a part of a larger market that has a specific identity, need, or preference. (which is different from the market in the bigger picture). For example, the niche market of a fashion clothing business is a business selling fashion clothing in size XXL specifically, or the niche market of a body pain clinic is a clinic that treats pain from Office Snydrome, etc.
Niche Marketing is doing marketing in a specific group for those Niche Marketing, for example for a XXL size fashion clothing business, every communication that will go out must go out to a group of customers who are especially large. Or for an Office Syndrome clinic business, every communication that goes out must go out only to the group of customers who are likely to have problems with Office Syndrome.
4 concepts for making Niche Marketing effective
1. Understand your customers and the problems they have.
What makes a Niche Market different from a Market in the broader picture is the customer.
As I said at the beginning, customers in Niche Market have very specific identities, needs, or preferences. Therefore, it is important to understand the customer.
Niche Market Keyword Research () Persona ()
Interesting example
Ready Planet’s R-CRM tool selects a Niche Market that is a Thai SME niche with a sales team of more than 5 people and the business must be a multi-purpose business. High-involvement (That is, customers have to think and consider a lot before making a decision.) Ready Planet understands the Thai SME market in that Thai SMEs want CRM software that is easy to use. Therefore, Ready Planet tries to make their CRM solution different from other companies. By making it easy to use Similar to using email This makes the customer’s sales team not have to learn much new.
2. Understand your strengths
The reason you can’t be everything to everyone is because you can’t be good at everything.
To do Niche Marketing effectively, you need to understand your strengths. and use those strengths as a driving force or to connect with the needs of people in the Niche Market
SWOT Analysis SWOT Strengths (), Weaknesses (), Opportunities () Threats ()
Interesting example
Tuman Man is a media outlet whose strength lies in having a large following of people who like to develop themselves and consume knowledge. People who like to develop themselves and gain knowledge also like to be the recipient. I also like to be a giver.
So they took advantage of that strength by creating a Social Media Platform called Blockdit for their customers to give and receive knowledge.
3. Seize unoccupied space.
Go back to the beginning of the article…
A business selling fashionable clothes in size XXL may be a business that looks good to a specific group. Suitable for Niche Marketing, but if that Niche is a Niche that already has people occupying it. It may not be easy for you to become one of the players in a niche market.
A better way is to try and find a niche that doesn’t yet have a market leader.
mindtools.com
If you already have a business and want to try to find an interesting niche, you can try using Ansoff Matrix to think and plan. The framework of Ansoff Matrix is divided into 4 channels: Market Penetration (the market already exists You can become one of the players), Market Development (there was no market before You have to start creating your own market, Product Development (the market already exists. but the current product still doesn’t answer the question), Diversification (Do things that have nothing to do with the market you are in and the products you have)
Interesting example
This example is an example from Content Shifu itself :)
Content Shifu “Inbound Marketing” ( Niche Digital Marketing) () Inbound Marketing Digital
If Content Shifu started as a Digital Marketing Website, people might not know and remember the brand.
4. Do things that “big people” don’t focus on or don’t do well.
If you take a quick look at large businesses, You might think they are invincible. Any business that will fight or compete with will likely only lose and lose.
But no one person or business can be perfect in everything. There are always gaps in everything. (If you look carefully, study carefully)
Interesting example
Nocnoc is a new eCommerce platform (owned by SCG) that focuses specifically on home decorations.
Since its launch, it has been considered a great success. Even though they are an eCommerce platform that has to compete with giants like Lazada and Shopee (these two eCommerce companies also have a home decoration category), their focus on being an “eCommerce for the home” has given them a place in the market.
summarize
And this is Niche Marketing and how to do Niche Marketing to get good results.
Every business model has a hidden niche. You just have to focus on finding it. See if the niche is big enough. And will you be able to compete?
If you want to penetrate the market with a Niche Marketing strategy, try using the concepts and frameworks I have recommended above. :)
