Plenty of successful companies have only seen success after focusing on a narrow part of a population and marketing strictly to that group. In fact, most of the time, the more unique companies are the ones that are focused on a particular niche in a market.

Taking charge of a niche market is not that difficult to do, especially when it’s done correctly. However, let’s start by focusing on each part of the equation separately.

What is a Niche Market?

A niche market is a small part of a bigger target audience. For example, if the brand is selling women’s shoes, the wider audience is women as a whole. However, the niche in that audience can be vegan or vegetarian women, who are looking for shoes that are ethically sourced as well as made from sustainable materials.

Additionally, there are plenty of different examples of niche markets and target audiences within those markets, that can be further differentiated according to things such as income brackets, price preferences, specific hobbies, and many others.
Why Does a Brand Need It?

The simple reason why every business needs to define its niche market is that no one can be everything to everyone. While the idea that a product or a service might end up helping everyone is a very tempting idea, it’s actually adding unique features that attract a specific audience.

The main benefit of a niche marketing strategy is that it allows a business to step away from all the generalized marketing approaches that often lead to companies being unable to really connect with anyone. However, thanks to niche marketing efforts, it’s much easier to focus on investing money and time into the people that are more likely to appreciate the specific services or products that the brand in question is offering them.

Another benefit to niche marketing is that it’s a lot easier for businesses to create brand awareness as well as brand loyalty when there aren’t too many competitors, so it’s easy to stand out from the rest of the (small) crowd.

The niche brands around the world that focus on their particular segment of a target audience enjoy having a loyal client base. It’s also a lot easier to market to a group who really loves the products or services that are offered to them.

In fact, the main reason that people tend to buy things is that they either need them or really like them. Whatever the case may be, a brand needs to find a way to tap into an existing consumer market and then create interest within that market around what the brand in question does better than everyone else.

Some might think that starting or expanding a brand into a niche market is difficult, however, that’s rarely the case. As long as that brand has a personality and shares its ideals with its clients, creating brand awareness is easy. The only thing that matters at that point is how the brand communicates with the audience about what it represents.

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Ronn Torossian is the Founder, President and CEO of New York-based 5W Public Relations. He has overseen the company's rapid growth and expansion to the Inc. 500 list, as well as provided counsel to hundreds of companies, including members of the Fortune 500, Inc. 500 and Forbes 400. His work spans global interests, corporate entities, high-profile individuals, regional business entities, government agencies and academic institutions - both on routine public relations matters and extremely sensitive issues. One of the foremost public relations experts in the U.S., Torossian is known for his aggressive, results-focused orientation, as well as his close working relationships with members of the media, influencers, decision makers, politicians and celebrities. At 5W Public Relations, Torossian's client experience has included programs for Coca-Cola, Microsoft, Anheuser-Busch, Barnes & Noble, Cantor Fitzgerald, IHOP, McDonald's, Evian, EDS, VeriSign, XM Radio, Seagram's, The Loews Regency, Bad Boy Worldwide Entertainment, Marriott Hotels, Vail Resorts, Pamela Anderson, Snoop Dogg, the Government of Israel, and others. Referred to by The New York Post as a "publicity guru," by Fox News as a "high-powered PR CEO," by Tyra Banks as a "crisis management guru," and by CNN as "a leading PR expert," Torossian is regularly featured in and quoted by the media, including by CNN, Fox News Channel, MSNBC, NBC, The New York Times, and others. CBS National News said "Ronn Torossian knows spin," and a New York Times feature story on Torossian referred to him as "The consummate hard-driving, scrappy NY publicist." Earlier in his career, Torossian was a Vice President/Group Director for one of The InterPublic Group's (IPG) largest PR agencies, where he was responsible for significant client growth and successful client programs, including work for Clinique, Fox News Channel, DHL, Hard Rock Café and others. A resident of Manhattan’s Upper West Side, Torossian was named to the Advertising Age "40 Under 40" list, PR Week's "40 Under 40" List, is a regular lecturer at universities and conferences, a member of Young Presidents Organization (YPO) and a board member of numerous non-profit organizations.