Niche Marketing Examples: 3 strategies that work!
Niche Marketing Examples are best when it comes to illustrating theoretical strategies. Directly applicable case study for you to succeed with your business.
“I want to help as many people as possible” or “I am afraid to lose business possibilities if I position myself too narrow at the beginning” are common question and thought among entrepreneurs. This is, at best, a misconception of the concept. The consequences range from a waste of time to a waste of resources. Why not applying what works for the most successful companies and individuals in the world?
Here, with examples, we illustrate three business situations. We help you learn how to position your product or service in a market that will benefit you.
These niche marketing examples help you qualify your specific situation, and up to you to decide what you will do from there.
What is Niche Marketing? (And why it is important)
Niche Marketing is the art and the science of addressing a specific issue shared by an identified group of people. It focuses on the pain points of a particular category of the population, whether divided by gender, age, location, social position or values. And yes, it is a profitable and successful strategy.
The most prominent companies in the world have all started with a limited target. We find niche marketing examples among the top successful companies of our era. Google started as a search engine. Amazon as a book listing and delivery website and Facebook as a private network for Harvard students. In business, you cannot address everyone; otherwise, it comes at the cost of talking to no one.
“No niche is too small if it’s yours.” – Seth Godin.
Following their strategy, you start small, establish yourself as an authority within your field of work. From there, you can grow and expand over time to become a larger player in a more extensive industry. The key is to match with the people that will hear your message. You need to understand where you belong and how you can help a few people around you as a starting place.
What matter is not to be where your competition is; it’s how much impact you have on your audience. Too many focus on being people pleasers and refuse to communicate clearly on what they do. Quality is more important than quantity. There is already countless similar content online; you are unique and what’s makes you is an asset that deserves to be shared with the world. You don’t need to copy somebody else strategy or audience. If you focus on where your values, talents lies and how much you can influence the life of others, you have already a winning strategy.
How to do Niche Marketing?
How to position my business? When you are starting in business, it is sometimes overwhelming to understand where you should stand. You tend to make ends meet and accept all types of proposals, which blurs the lines. While it has evident benefits to present yourself as a master of all trades, it is confusing for your clientele and partners.
While your business success must consider the various components of the field of work you choose, we advised strongly to position yourself on a speciality of your choice.
Everyone wants to be someone else. Indeed, because we are always looking forward to the next step of our personal or company development, we overlook who we are now and where we came from. Small businesses want to look bigger, and large corporate firms tend to broke down in silos to stay approachable to new customers.
People are looking for your expertise right now, the same way you are seeking other expertise to keep growing and learning your craft. Underestimating yourself, where you come from, and what you’ve done is one major mistake most of us are making when finding our niche.
If you are deeply passionate about what you do, have what it takes to do a great job while helping others, you are in a great way to find yourself and your audience. If you don’t find one, create it!
Self-assessment is tricky, and it’s hard for many professionals to find where they can shine. Ask for help if you need it. The right person by your side can make a huge difference. At Ohma, we love to help people to get closer to success, reach out anytime. Otherwise, this article can help: How to use Ikigai to Find your Niche and Succeed to position yourself or your business in a competitive marketplace with a 4 Steps Proven Method.
If you are not there yet and still looking to understand your viewer’s type, we prepared a free pdf to help you define your buyers: Buyer’s Persona Exercise: Define your Audience.
When considering how to start with digital marketing, it is crucial to understand your audience. Ask these questions to understand who is most likely to buy your product or service, and that way, you will know precisely how to present your business to them.
Download your free PDF that will help you understand your market position.
Strategy Number One – First, build your audience.
First, build your audience, then find your product. Instead of seeking to be the top one in your market, these businesses and personal brand bring value: they create something new.
It is influencer marketing at the core. It usually works well for personal brands.
This method has proven successful for Kim Kardashian or Kylie Jenner and their cosmetic lines.
Niche doesn’t mean small; it’s focused. You find happiness within your market position. This is where what you love meets what you can help people who struggle with.
Strategy Number Two – Adapt your product to your audience new needs.
For many established companies who started on a tiny target, the threat remains the same too long and not renewing themselves. We evolve, trend change as the population become aware and educated to current cultural challenges such as the LGBT+ community or the deeply rooted issues of overfishing.
The need of the current and future generation differs from the ones previously known. Brands that pass the test of time are the ones that constantly challenge themselves, learn and adapt to their key buyers.
Disney-Pixar and Mattel are perfect examples of iconic brands that support society evolution with powerful messages behind their products. Both are brilliant testimony over the years of the perception of women in our cultures. They adapted to please their users, and they renew themselves to match the upcoming generation needs.
Strategy Number Three – Multiple Audiences
Once a brand establishes itself, it is common to diversify its products. The goal is to reach a wider audience and grow a more significant business.
Mac Donald is a perfect example of a global brand addressing multiple audiences with brio. The recipe of the product will adapt to the taste and cultural background of the geographic zone. The strategy is to diversify to match one version of the product with one specific sub-category of the customer’s population. Some products are iconic and can be found everywhere around the world when others match the habits of the local customers.
Other brands prefer to speak to different audiences by changing their product or using different brands. L’Oréal owns several brands in the same space that correspond with diverse audiences. You can belong to both but not at the same time of the day or in your life.
Multiple audiences is the choice also done by the group Inditex. Amancio Ortega created a Spanish multinational clothing company that distributes Zara, Massimo Dutti, Oysho, Berska, Stradivarius and few others. Inditex diversifies cleverly in creating a new brand universe to match evolving people’s needs without risking deceiving their acquired client base.
Ready to apply these niche marketing examples to your business?
We hope so. The next step is all yours!