Niche Marketing: Focusing on a Portion of the Whole

Defining Niche Marketing
A niche market can be defined as a focused and targeted, marketable portion of a larger market sector. Niche marketing would then be, focusing ones marketing efforts on that particular sector rather than the market as a whole.

Who Could vs. Who Would
Although your online store may be open to everyone on the “world wide web”, your marketing efforts should be targeted to a particular part of this audience. Keep the phrase “smaller is bigger” in mind. Don’t waste your time and money marketing to everyone that could possibly buy your item or service. It’s not about who could buy your product, but who would be more likely to. If you have a general product for sale, you may feel inclined to define your market as “everybody”. But how effective is a message that is thrown into an entire crowd of diverse consumers? Not very. Take low fat yogurt for example. Yes, that food can be consumed by anyone. However, are you more likely to increase sales by pushing that item to middle aged women that may be looking to increase their calcium intake, or college-aged males that might eat yogurt simply because it taste good? It’s more effective to find a market with a stronger desire for the product.

The more you relate to a potential customer base, the more you narrow down their particular wants and needs and the better you can address those needs with your marketing message!

Happy Selling!
-Stacie Leonard, Volusion

 

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