FOCUSED MARKET SEGMENTATION
What is “niche marketing” and how it can help your business?
A focused, niche marketing strategy aims to identify a select audience that has particular business needs that can be solved by a precise solution. There are products or services that serve the needs of a small portion of the market. How do you focus your marketing initiatives to identify qualified leads within this “niche market”?
Through a “Niche Marketing Strategy”.
The building block? “Differentiation”. Is your product or service better, faster, more specialized and/or generally more desirable than others in the market?
What is a Niche Marketing Strategy?
Let’s start by asking the basic question: what is “market segmentation”? Focused market segmentation is a technique that splits the market into pieces, “segments”, according to key differences between these particular market segments. There are many ways to approach the focused market segmentation: based on pricing, demographics, location, and the list goes on.
NicheMktg approaches focused market segmentation by defining usage and the needs that drive sales in a particular target audience. Our B2B mix marketing campaigns target customers who have a common business need and they can be found anywhere in the world.
At NicheMktg, we advise companies on how to keep the focus and the B2B marketing efforts in a targeted niche market – rather than wasting resources trying to reach everyone. We help customers to identify the positioning and the message based on “differentiation”: the special features and capabilities that can be found in your product or service and nowhere else. We find and promote what is unique about your product for the selected target market, what your product is really good at and why you offer the best solution in the market.
Our integrated B2B mix marketing campaigns match your product benefits with your target audience, aligning your product and the market needs. By placing the right messages in the right channels, we reach and identify the leads that show interest, and nurture them. When they show enough interest in your product, we pass them to the sales team for follow-up.
When a company focuses its marketing efforts on a small, profitable niche market segment, changes are that this company can become the expert within this niche. Current and potential customers will request your expertise in order to solve their real-world business challenges, and the company will eventually become the main reference in this specific area of knowledge within the defined niche market.
If the idea of becoming a reference in your niche market is appealing to you, please contact us. We’ll be pleased to discuss our approach to B2B marketing with you.