What Is Niche Marketing – The Niche Marketing Concept

There are clear benefits that are targeted at a small group of people, especially the cost-effectiveness of a campaign of this kind. Media, which is based on your niche target market is generally cheaper than a smaller audience, but if the audience is 100% of people who are interested in your product or service, you are in for a winner.

We all know what a niche is that I will not bore you with the background, what you have not heard of the concept of niche marketing. This is the concept of finding this niche audience and creating a perfect country to find the exact demographic.

So we discussed how it can be more profitable, it is now about to examine ways to make such a marketing campaign. First you must know what media your target audience will be the most sensitive, if you have any direct competitors are doing the same kind of advertising, so your market will be much less sensitive. You may need to think a little more of the box to create a truly effective campaign.

You might think you’d want to do some ‘direct marketing, as shown in the distribution, but people are losing their willingness to such a degree of radio stations and local distribution may be as follows after you, as you going to get people to Afro-Caribbean culture? Well, there are a lot of hairdressers, textile shops, church officials, adding that when in direct contact with the market directly, within the capture area for the market.

What you need to do is three circles, and write in the circle of progress that your competitors are doing in a second writing that the activities of your audience to do, and the second is where you fill in the gaps between the two, so you can really find a niche marketing strategies for you to do.

One of the best factors of niche marketing is that if a method works, once submitted, you can try another method that the initial outlay is not so much as a radio announcer or TV or the local newspaper, that he might not ride. You just have to try different methods of low cost, until you find the right few who will give you the return you had hoped. Even if it does not work the first time, however, strengthening the brand and what you need is a good as you develop your campaigns.

Retarget Marketing: A New Level Of Personalised Content

It’s not a coincidence anymore that, when browsing for that new sports watch, suddenly you’re seeing ads for FitBit everywhere. It’s not by chance that your research into real estate has triggered banner ads popping up all over your Facebook feed telling you to click to see the Commonwealth Bank’s new mortgage package. It’s not selective sight seeing ads for ASOS beckoning you back after shopping on their online store after abandoning your cart before purchase.

The internet is a very smart creature today, and has reached a level of targeting that transcends anything seen before. What I’m talking about here is the technique of Retargeting.

What Is Retargeting?

Retargeting (also sometimes referred to as remarketing) is responsible for the phenomena mentioned above. Basically, it facilitates re-engagement from a customer after they’ve left a brand’s website.

Retargeting gathers a specific person’s buying preferences, and then shows them targeted online adverts as they surf the net, to keep those relevant brands in front of them. The majority of customers (around 98%) who visit a website will actually leave (known as “bounce”) before completing a purchase or performing a converting action. Retargeting addresses this by leveraging purchase intent data from that website (such as likes, shopping cart behaviour, history, time on site, clicks, and so on), and placing a small piece of code as a cookie on their browser, so that when they visit retargeting provider pages like Facebook, the individual is served ads tailored specifically for them.

This is a very effective marketing tool as it allows powerful, precisely targeted ads to be directed to each specific customer, encouraging them back to the original website to complete their transaction and convert.

Part Of A Larger Campaign

Obviously, this works best as part of an overall digital Marketing campaign. After all, you need customers to already know about your brand and visit your website for the first time as a result of an overarching promotion campaign, before you can effectively utilise retargeting to nurture and make them feel comfortable about returning to your website and trusting your brand. Retargeting is a good way to bolster this larger campaign.

Don’t Frustrate Your Customers

Retargeting, however, requires a very delicate balance. It should be a complementary execution to your marketing mix, not an endless annoyance to your customers. Serving the wrong ad to the wrong person too many times (over bombardment) is the negative side of retargeting, and must be avoided. Retargeting works most effectively when it’s a subtle, top-of-mind reminder, and not a hounding series of propaganda.

The ideal point is when the individual views the retargeted ads as a convenience, where ads are catered to their specific needs, rather than harassment, with ads stalking them around the internet. It’s important to get this delicate balance correct.

The Multiplatform Scope

An effective retargeting strategy must span across many platforms, given the nature of the consumer today. These include desktops, mobile devices and social media. Most customers own multiple devices and will research on one platform, only to complete their transaction and post feedback on another, so retargeting must be reaching them via a multi-platform approach.

Get The Most Out Of Retargeting

Effectively using Retargeting lies in segmentation, creative design, experimentation and measurement.

Segmentation puts the right strategies in place to ensure the correct messages are delivered to the right consumer. For example, a loyal customer will require a different type of message to one that is still unsure about purchasing. Correct segmentation ensures that a converted customer receives loyalty campaigns and cross selling messages, whereas a non-converted customer receives discounts and reassuring messages to bring them back to the site.

Creative design on retargeting adverts work best when they’re kept simple and bold, display the brand prominently, have a direct call to action, and present a personalised message. After all, if you’re going to all the trouble of individualising your Marketing massaging, don’t waste the opportunity to connect directly with your customer.

Experiment with different designs, frequencies, locations and landing pages to discover what gets the best result. As it is a specifically targeted campaign, it’s often difficult to determine what resonates best with an individual segment.

Effective measurement is always key when determining the success of each marketing endeavour. Retargeting can meet customer retention, brand awareness and sales objectives, and the most commonly uses statistics to track progress are “Cost Per Action” and “Cost Per Clicks”.

Have You Developed Your Marketing Plan for 2016?

All of the giants of industry are putting their marketing plans and budget together now. It is essential to have a well thought-out marketing plan that is proactive, not reactive. A marketing plan without a firm foundation merely sways in the breeze, with decisions being made willy-nilly about each shiny and novel marketing opportunity that is pitched by a company – some with the best of intentions, and others with more questionable purposes.

Step 1: Gather the Information

Before drafting your marketing plan, it’s critical to answer some key questions that will shape the plan to meet the specific marketing goals of your business. Here are a few you should start with:

Who is my target customer? Be specific. Look at demographics and consumer preferences.

What needs does our company meet? List the ways your products and services uniquely serve your customers.

Who are our competitors and what sets us apart? Look at the products and services they provide, and see where you can exceed their offerings. Research the marketing efforts of your competition. By doing so, you might notice that you’re missing the opportunity to take advantage of a “new” or previously underutilized marketing channel.

How are we going to reach those target customers? Learn how your target customers prefer to receive information (e.g., email, social media). Demographics can tell you a lot about this.

How will I quantitatively measure the results of my marketing efforts? This is huge, because you cannot know what is working for you unless you have hard data to reflect on at the end of the day.
Step 2: Determine the Marketing Channels You Will Use

Successful budget allocation depends on a thorough examination of the marketing channels you’ve used in the past, as well as promising new activities you can explore. If you’ve identified your target customer, you will already have a better idea of which marketing channels will take precedence over others. For example, if your target audience relies heavily on social media to make buying decisions, this may be a channel you want to fortify with more resources. Some of the ways companies reach their target customers are:

· Online/radio/TV/print advertising

· Promotional products

· Direct mail marketing

· Cross-media marketing

· Social media marketing

· Email marketing

· Search marketing

· Blogging and article writing

Step 3: Determine How to Allocate Your Budget

A marketing plan must have a comprehensive budget that encapsulates all resources required to achieve its goals. Some things to consider:

According to the Forrester Research Interactive Marketing Forecasts 2011 to 2016 (US), 32% of the average 2015 marketing budget was spent on interactive marketing (such as social media, mobile marketing, and search marketing), and it’s expected that this amount will increase to 35% in 2016.

Many businesses allocate a portion of their budget (say, 10-15%) for new or novel marketing opportunities that come up over the course of the year. This way they can test the waters of a new venture while knowing their spending limit.

Your allocations must capture all costs associated with marketing and the various channels you utilize. This includes staff, monies paid to outside agencies, etc.

If you’re struggling, a simple formula for budget allocation is what experienced marketers call the “70/20/10″ rule: 70% for time-tested and proven marketing strategies, 20% for those that are promising but not yet fully established, and 10% for trying new things.
As you can see, there are various factors to consider when developing a marketing plan. You must invest the time and resources to build a solid plan that delivers results. Your marketing plan is your marketing roadmap and will keep your business headed in the right direction with its marketing efforts. It will also outline, and allow you to secure, the resources you will need to arrive at your marketing goals. Without it, you have no way of measuring the results and determining which channels provide the best ROI for your business. Figure out your allocations and but a solid and comprehensive plan in place before your next event sponsor comes a-calling.