Finding and keeping a lucrative audience when your competitors are looking elsewhere
What is niche marketing?
Think of it as a highly focused version of direct marketing.
With direct marketing, you select the target groups of businesses or consumers you want to promote your particular products and services to.
By restricting your marketing to those groups, you reduce “wastage” to the absolute minimum – wastage is the term used to describe advertising to businesses or consumers with no likely interest whatsoever in what you’re selling.
Think of an accountancy practice for example.
Most accountants want to sell their general accounting services to clients on a yearly basis.
They may choose to advertise themselves to limited companies in their local areas to win this type of bsuiness.
But other accountants want to sell higher-ticket and more commercially valuable services like arranging R&D tax credits, patent boxes, and so on.
For these accountants, they don’t want to waste money advertising to companies with no use for their specialist services.
Niche marketing would be suitable for them so that they only contact the small number of companies with a likely need for those specialist services.
So, think of niche marketing as a “nano marketing” version of direct marketing.
Get it right and niche marketing could…
- improve profitability,
- reduce your company’s marketing expenses, and
- simplify the running of your business
…all at the same time.
Six strategies for successful niche marketing – how our service works
When we start work on a niche marketing campaign for your company, we first need to know the following:
- your company history, what it’s best known for, and information on the owners and senior managers of your business
- which particular specialist products or services you wish to sell more of or focus on
- the types of people and companies most likely to buy the products or services you want to promote
- what the buyers of those products and services value the most
- any market failures you address – do you do something in a better/cheaper/more efficient way which delivers a real benefit to your client which your competitors don’t do?
- what might be the thing which stops them leaving their current supplier for you
Inbound niche marketing
With that information, we would then, for inbound marketing campaigns:
- review your website and how effective it is in both being found by visitors and in persuading visitors to purchase your products and services,
- how your website compares with your competitors’ websites,
- carry out deep online research into the types of questions and search terms used by potential customers to create a library of articles and blog which would improve your website’s search rankings and conversion ratios,
- review competitors’ marketing strategies to see which downloadable and shareable content (for example, e-books, white papers, and so on) they’ve created which perform particularly well, and
- examine your competitors’ social media marketing approach, in particular the ones with larger followings, to understand what it is about their company/personal profiles and their approach to posting and advertising which is working so well for them.
Outbound niche marketing
For outbound marketing, we would:
- subscribe to competitors’ email newsletters to gain an understanding about the information they’re sending to their clients and prospects about their versions of your specialist products and services,
- contact our media partners to discover how many GDPR-compliant B2B email addresses they have for prospects likely to need your specialist products or services, and
- find out how many businesses our media partners have on file for telemarketing purposes.
After our period of research, we would then present a series of recommendations to you on how we’d like to run your niche marketing campaign for you.
To speak with one of our niche marketing account managers, please call 0330 010 3495 or you can email us by clicking here.
Our specialist niche marketing services for financial companies
Our copywriters, telemarketers, and content marketers have considerable experience in creating niche marketing campaigns for financial services companies targeting both consumers and business decision makers.
Our specialist niche marketing departments
Within More Than Words, we have experienced and specialist planners, copywriters, and telesales reps providing companies in the following sectors with successful niche marketing campaigns:
Get in touch
We’re open during office hours between Monday and Friday.
Please call us, email us, or fill out the contact form and let us know what you want to achieve with a focused and carefully planned niche marketing campaign for your company.
We’re available on 0330 010 3495 or you can email us by clicking here.
We’re based in North Shields town centre if you want to come and visit us. There’s lots of free parking outside and we’re only three minutes’ walk away from North Shields Metro station.