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.

The Advantages and Disadvantages of Direct Mail

The advantages of direct mail advertising are many. Direct mail offers both large and small companies the ability to market their services or products to specific and defined markets at a reasonable price. Coupons or special offers can be offered to a company’s client list or potential client list. Alternatively, mailing lists segregated by many types of demographics can be purchased from various sources. The costs of direct mail are a major advantage as well. When compared to other mediums of advertising the price tag can be kept relatively low. In addition to low per copy costs, the total expenditure can be limited to any budget by reducing or expanding the number of mailings. The price of individual mailings can be kept low by ordering in bulk and reusing the same mailer for multiple mailings. Turnaround time for design to production is a key component to the success of direct mailings as well. The process can be as short as 1 to 2 months, which allows a time sensitive opportunity to be taken advantage of before it passes. Direct mailings can also be used to research a current or potential niche in the market.

As mentioned before the price is not as restrictive as with other types of advertising. Combined with the abilities to manipulate the “offer” to fit the customer and to isolate various segments of the population, direct mailings can provide invaluable data for planning future mailings as well as other types of future marketing. Some disadvantages of direct mailings include the fact that many people view direct mailings as junk mail. Also, there is no shortage of competing articles arriving by mail, so the advertisement may easily be overlooked or discarded. This fact makes the likelihood of a single mailing less probable. A longer more sustained campaign may be necessary to garner the desired results. Price can be prohibitive as well. Although the costs can be an advantage, they could also become excessive the more creative and extravagant the mailer. The balance between costs versus creativity is a crucial part of the equation to launching a successful direct mail advertising campaign.

Is Your B2B Firm REALLY Marketing, Or Simply Making Tactical Soup?

Many B2B firms invest significant dollars and hours maintaining a broad range of marketing tactics that may or may not demonstrate economic value. Often, the value of marketing activity gets measured in tactical terms-such as volume of media exposure, website traffic, webinar attendance, email click-through rates, awards for civic participation and social media “Likes” and “Followers,” rather than by tangible business outcomes such as lead generation, conversion rates, acceptance of new service offerings among existing clients, or revenue per associate.

When this situation exists, a B2B firm is not marketing; it’s simply making Tactical Soup.

Here are 3 steps to get out of the soup kitchen, or to avoid it altogether:

1. Put every marketing tactic under the microscope. If there’s no tangible connection between a current marketing tactic and bona fide business results, throw it out. Be ruthless in your tactical assessment and focus on marketing initiatives that demonstrate a direct correlation between activity and a measurable business outcomes.

2. Calculate the value received from the marketing activity. Press releases and related media exposure is a good example of marketing activity that is often overrated in terms of effort vs. tangible outcome. Unless your firm has accomplished something truly noteworthy-like discovering your profession’s equivalent of cold fusion-then the likelihood of your clients, prospects and referral sources actually noticing the media exposure and doing something about it, such as visiting your firm’s website or requesting an introductory meeting, is probably low. Exposure that’s largely based on a firm’s achievements delivers little practical benefit to existing clients and may leave them wondering if such self-promotion will result in higher client rates and fees.

3. Schedule ongoing maintenance of the activity. Unfortunately, many B2B marketing tactics are often one-off or plug-and-play solutions. Blogs and newsletters demand original, timely content; not canned information. White papers and case studies become quickly outdated. Website effectiveness requires ongoing attention to visitor traffic analytics and search engine optimization. Webinars and public forums entail lead qualification and follow-up with prospects.Email and direct mail campaign accuracy depends on a reliable and accessible database. LinkedIn, Twitter and Facebook must be updated regularly to stay relevant. Before embarking on these activities, make sure you have the time and resources to dedicate to their maintenance.

THE PAYOFF

B2B firms can avoid the pitfalls of tactical soup by being selective in the type and volume of marketing tactics they apply. Most importantly, they must identify a specific and measurable strategic outcome in advance of any tactic’s design or application. For example, a 25-person CPA firm with an emerging practice among medium-size, privately held businesses sought to add a pharmaceutical company to its client list. Leveraging the life science industry background of one of its senior partners, the firm proposed and published a bylined article on Sarbanes-Oxley (SOX) revenue-recognition compliance-a supply chain issue of great interest and value to pharmaceutical industry executives-in a leading life science publication with more than 35,000 print subscribers and an even greater number of online readers.

Instead of simply posting the bylined article on its website and adding article reprints to its marketing kit, this firm understood three important considerations regarding the real value of media placement as a marketing tactic:

  • The article’s content was not as valuable as the firm’s indirect affiliation with a respected pharmaceutical industry publication.
  • On its own, publication of the article was unlikely to generate any viable, near-term new business prospects.
  • For the firm to benefit from the credibility associated with publication of its partner’s life sciences expertise, it would need to proactively merchandise this inherent 3rd party endorsement.

Now that its marketing toolbox contained validation of the senior partner’s intellectual capital in a leading vertical trade magazine, the firm leveraged the value of that exposure. It used the article reprint as the cornerstone of a direct mail campaign designed to raise awareness of the firm and to initiate substantive conversations with CFOs at pharmaceutical firms matching the criteria of prospective clients it had targeted-in terms of geography, ownership, revenue growth, number of employees and apparent levels of sophistication.

The firm’s mailing included a hard copy, personalized cover letter to those targets, offering to provide a pro bono analysis of the prospect’s SOX exposure, which was followed by a courtesy phone call designed to measure levels of interest and to schedule an introductory meeting. Over the course of this six-month campaign, which effectively combined two marketing tactics-media exposure and direct mail-this accounting firm netted two new pharmaceutical industry clients.

Instead of generating marketing activity for its own sake, this B2B firm effectively applied specific marketing tactics to yield a predetermined business outcome.

Tactical Soup was not on this B2B firm’s marketing menu, and it has no rightful place on yours.