“A niche market is a subset of the market in which a specific product is focused. The market niche is defined as the product features aimed at satisfying specific market needs, as well as the price range, production quality and the demographics that is intended to impact.” (Source:Wikipedia)
Why target a niche market?
Think of niche marketing as a way of building into a business’s existing market and adding in groups of people that will be interested in its products and services. Take Ben and Jerry’s for example. They make the world’s wackiest ice cream flavors, but a niche market for them would be dairy-free ice cream for lactose intolerant customers.
How can a brand find the niche markets for its products and services?
One way is to look into Facebook’s Audience Insights. Facebook’s Audience Insights help businesses learn more about their primary audience’s quirks and niche markets that may be interested in their products or services. On Facebook Audience Insights, companies can look for any “shared similarities” to identify secondary groups of people who might qualify as a viable niche audience.
After finding a niche market, visit Facebook’s Audience Optimization page to ensure that the business’s posts will be seen by those with whom it wishes to engage. Consider checking Facebook’s Audience Restrictions to set up restrictions on groups by whom the company may not want its posts to be viewed. Plan heavily while setting up a Google Adwords campaign or restricting keywords to attract an ideal audience. A business that sells fedoras, for example, won’t want to attract an audience interested in baseball caps.
Optimize the Business’s Exposure to its Niche Markets
Try to learn slang or quirky words and phrases that the niche market might be using on social media. Visit the Urban Dictionary or the Online Slang Dictionary, or running a google search on slang for the particular niche that the brand is interested in. Take the slang used by motorcycle riders, for example. A simple Google search for “motorcycle slang” will pull up Biker Slang: Motorcycle Lingo which lists terms that only bikers would know, like “2-into-1” and “1-Kicker.”
Whether a business is trying to connect with fashionistas or motorcycle aficionados, it should try to learn their language. Make a list of all the common words and phrases that the niche market uses and sprinkle them into social media posts and replies. Using slang that appeals to this target audience will build their trust and help them feel more comfortable with the product or service.
Another optimization tool is to use imagery and quotes that are relevant to the niche market that the business is trying to seduce. While reaching out to the niche market, make sure not to forsake the brand’s main audience. Try to use imagery and quotes that apply to both groups.
While risky, as a final option try targeting hot topics that the group might be interested in and making a stand. This can be a risky tactic, but there have been plenty of instances in which it has worked for companies trying to make their names known. Most importantly, stay true to the brand and let its unique voice be heard.
Socially Bold is a digital marketing firm located in Jacksonville, Florida providing marketing services to small to mid-sized local businesses. Specializing in social media and content marketing, Socially Bold focuses on aligning with clients, the ‘Socially Bold Community’, to deliver innovative ideas and translate those into refreshing results. For more information about Socially Bold, visit sociallybold.com. Join the #SociallyBold conversation on Twitter @sociallyboldjax, Facebook @sociallybold, Instagram @sociallybold, Pinterest @sociallybold or Google+ @sociallybold.