Producing a successful niche product is all about getting the marketing right. With a more compact audience, it’s important that as many of your potential customers as possible are aware of your product and the benefits it could bring them. The Internet is the ideal medium for marketing niche products, as it offers a cost effective and instant way of advertising to your audience.
Niche marketing is where you define the specific sector of the market that you want to aim your product at and then market directly to them. Some businesses see the concept of niche marketing as simply reducing their profits, as there are fewer people to buy.
However, if you have the right product, a well thought out market and an excellent marketing strategy, you can create a highly successful business. This is especially true if you’re targeting a market with a high demand and a large disposable income.
For example, Hampton Creek has created a successful niche food business. They manufacture a range of products, including Just Mayo and Just Cookie Dough, which use plants in innovative ways. Their products don’t contain eggs, making them healthier and suitable for allergy sufferers. Only a few years old, the company has successfully used its marketing strategy to target the niche audience.
Design and advertising
The use of design methods and advertising mediums is important when communicating with niche markets. Using the Internet to disseminate these messages works well with these types of audiences.
As a basis for a successful niche business, you need a clear and easily accessible website. This should be well designed and include accurate information on the company and the products you supply. The images and wording need to be bright, and should focus on the key benefits and unique selling points of the product.
Traditional forms of advertising are not suitable for niche products. They are extremely costly, particularly when you calculate the cost in relation to the percentage of potential customers you will actually reach this way. Mass-market advertising also makes it too hard to pin point the exact customers.
However, online advertising can be targeted to specific sites where a high percentage of your customers will be looking. For instance, this could be a health or allergy forum for a food product.
Even social media can be an advertising medium for niche products. You need to focus on the profile and cover images, to ensure they say something positive about the business. Then any images that are used on promotional updates need to be in line with the product branding and publicize the benefits of the product. Social media can also help to spread the message, by encouraging followers to share stories and recommend the products to their friends.
Grow your audience
Once a niche product has been launched onto the market, this is not the end of the marketing story. Design and advertising will still have a key role to play in building up this base audience and creating a highly successful company.
It’s important that you keep listening to your customers and see exactly what they want from your product. This can then influence the way in which you design your next advertising campaign or where you place the ads. The better targeted your marketing is, the more chance you have of building an audience.
The Internet has brought about numerous benefits for the design and marketing industry. It has provided an entry point for smaller businesses, with more concise audiences and provided them with a level playing field.