While it may be tempting to market to everyone in order to make more sales, generalising can actually impede your ability to build relationships and gain a long term following. By finding your brand’s niche and targeting your marketing specifically to their wants, needs and desires you will find it easier to define your market, attract the right customers and increase conversions.
Become an expert
Focusing on a particular niche opens up the opportunity for your business and brand to become the experts in what you offer. Being the expert and the go-to brand can result in more leads, a shorter sales funnel and a larger following.
Generate more sales
Often the idea of targeting a specific niche comes with the fear that it will cause a reduction in sales, but typically the opposite is true. Focusing on your niche and targeting fewer people will allow your brand to relate more relevant stories, appeal to (or create) specific emotions, and address problems and solutions just for your niche customers.
Gain more loyalty
When you speak the language of your niche, solve their specific problems, talk directly to them you gain loyalty. This loyalty, in turn, leads to sales, repeat custom, referrals, recommendations; a tribe of brand ambassadors that sell your brand further than traditional marketing communications can reach.
Get more for your marketing dollar
Marketing budgets can easily be wasted by targeting everyone and anyone. By focusing on your brand’s niche you will readily define the best strategies, opportunities, tactics and influencers; you will be better positioned to identify exactly who you need to reach and how.
Deciding on whether to niche or not to niche is a scary one, but if done correctly it can help to define your brand further, to increase your customer loyalty, increase sales and focus marketing communications.
For help with identifying your niche and the opportunities they present for your brand just contact the team at Liquid Creativity, your local branding specialist.