Just like playing the stock market, the challenge with the eCommerce market is in predicting the next big thing before it becomes the next BIG THING!
Investing in the right product and the right market is very very important. It’s a simple win or loses situation for the store owners. In this article, I will be sharing some strategies on how to break into the niche market.
What Is a Niche?
/niːʃ,nɪtʃ/ – noun
Def. – a specialized segment of the market for a particular kind of product, services, or interests.
Ideally, niche markets are just more focused markets. The more you can narrow down your target customers, the more niche you become. Imagine a departmental store with chains all over and all kinds of food are obviously less niche than a gourmet store with only organic foods. The more specific the market, the more niche.
Niche stores may have fewer customers than large, department-style stores, but that’s the whole point. With fewer customers, you can optimize your sales strategies more accurately, especially when your customers have a lot in common.
Why is it important for eCommerce?
The answer is short and simple – competition! Considering the size of market rivals these days and if you are a short or medium-sized company then it becomes all the more difficult to spend on resources in order to fend off your competitors. So, it’s best to pick one market group that you can completely focus on and invest there. If you succeed you can always expand later.
Here are some strategies to get you started
1. Paid Ads
Hyper-targeted paid advertisements are a great way of marketing. This strategy is used by almost all businesses at some point. However, in this case, you need to customize your paid advertising strategy for niche marketing. You should use specific keywords that resonate with your target product and your target audience. Using broader search terms that get high search volumes will be a waste of money and effort for you. For example, if you have an apparel brand that specializes in sustainability fashion, then using keywords like “apparel,” or “unisex shirts” is a waste. That’s a broad search keyword and will get all sorts of traffic and not just people looking for a sustainable clothing brand. Therefore, you need to use keywords like “sustainable clothing,” or “eco-friendly fashion,” etc. to attract only relevant consumers.
2. Video Content
Videos are one of the best ways to show products in use and their different use cases provided the content is really catchy. This kind of content is needed for niche products more than any other product. The reason is that the more unique your product is, the fewer people tend to understand it. A lot of niche brands use videos to inform their prospective customers about how their product works and why they should buy it. Once you hone on the video content, life becomes easier or I’d rather say marketing your product becomes easier simply because videos are a great way of expressing your value proposition to your customers as to why they should buy from you and not your competitors.
3. Direct Communication With Customers
As a niche marketer, you have a very limited market to focus upon therefore it becomes more important to directly engage in conversation with your customers. You might have already set up a dedicated customer support service for your clients but you need to take it a notch higher by interacting with them on a more personal level, get to know them, solve their problems, ask questions, hold webinars, etc. You can also interact with your customers on your social media platforms, that’s a great way to expand your outreach and be active and popular at the same time.
4. SEO & Social Media Marketing
As you know you can divide the niches on the basis of Demography, pricing, psychographics, and geography. So let’s say your niche is geography-specific then using keywords that are location-specific will help attract a relevant audience to your website. This should be the most important marketing strategy for you. Just like we talked about hyper-targeted paid ads, you also need to use niche location-specific keywords for SEO and social media as well.
If you own a business in San Francisco, you don’t want to attract people from all over the world to your website because you don’t cater to them. Therefore, add your location to your keywords to form long-tail keywords. Similarly, when you post anything on social media, don’t forget to tag the location to ensure that it shows in search results. Also, add your location in your social media bios or the “about” section of your profiles.
5. Product Descriptions
The more attractive your product the more needs to be the description as well. They say “the first impression is the last” and so, your product description needs to be able to make it to the customer’s final cart. An ideal product description should be able to tell the story of your product. You need to focus on your product’s USP and describe it well.
6. Hyper-Targeted Content
Hyper targeting content marketing refers to the ability to deliver advertising content to specific interest-based segments in a network. Content marketing is your greatest weapon when it comes to an all-around marketing strategy that can be used by all no matter how big or small your brand is. However, to use it as a niche marketing strategy, you need to be specific or say hyper-targeted.
A good niche hyper marketed content would be something that is informative, useful, and relevant to your customer base. One of the easiest ways to do this is to start a blog focused on your niche and write about the trending topics.
For effective marketing, you will have to foresee what content your shoppers want to see. This is where knowing your customers and using your personas come in handy.
7. User-Generated Content
User-generated content is very useful in gaining consumer trust and building your online store. People consider user-generated content over branded content since it is more authentic. Trusting a recommendation is preferred more than what the brand claims.
Therefore, you need to include testimonials, reviews, social media posts, or anything created by your loyal customers to your advantage for your marketing strategy. You can use these on your social media profiles as well as your website.
By now you understand that niche marketing is very different from your regular eCommerce marketing since it requires a more specific and target-based approach. With niche marketing, you develop a sense of community and your campaigns are going to be less expensive. Although it is not everyone’s cup of tea, if done correctly you can nail it.