Jack of all trades and master of none! There was a time when this phrase was the creed of all marketing gurus. The past few years have seen a drastic change from this thought process. Companies, businesses and sellers now want people who are experts on a focused topic or market. Niche marketing is the latest trend, and some of Profitable Niches 2018 are weight loss, dating, learning an instrument, etc. You can get More Info about niches here.
For those who are new, niche market is a small part of a more significant sector. A niche marketer is a person who is a specialist in that small part. It could be a particular product or service that sets the spotlight on a very specific need of the consumer. Niche marketing is all about addressing a need that is overlooked by most big shot providers. The reasons why niche marketing has gained popularity in recent years are discussed below.
• Marketing becomes easier when you focus on something unique.
To sell any product or service one has to market it and advertise it. The branding and positioning have to be done correctly to make the product profitable. Incorrect marketing will not attract the right customer. This leads to no sales. In niche marketing, one already knows the people who will buy the product. This makes marketing it even simpler.
• No competition leads to repeat business.
The whole concept of a niche market is that there are few others who sell the same product or service. This equates to customers coming back to you. Another advantage of niche marketing is that with repeat business you can provide a better service each time. As the relationship grows between client and customer, the product improves, and the customer gets happier.
• Referrals and word of mouth are still the best technique of marketing.
One of the reasons niche marketing is profitable is word of mouth. Your customers would do the work for you. They will refer your product to their families, friends and colleagues. Thus, they increase your reach and credibility without any effort on your part. As your visibility is improved, more and more people will refer you, essentially starting a viral chain.
• Identifying new clients is easier.
The product or service you sell is targeted to a specific customer base, because of this pinpointing, new and potential clients becomes straightforward. Instead of falling into the perils of mass marketing, you can enjoy the benefits of customized advertising. The personal touch will convert more clients into paying customers.
• Being unique is the only way to survive in the market.
Every customer wants just one thing – a unique product that works for them. In a world full of copies, selling something unique is the only way to survive. This is the biggest reason why people should opt for niche marketing. There is almost no competition. The product you offer fulfills a specific need in a very specific way. You will never be replaced or made redundant.