Many marketing efforts involve painting with the largest proverbial brush that is possible, attempting to connect with a swath of customers across the full spectrum of the consuming public. This approach can be effective, but there are also volume-related costs that business owners might be reluctant to incur. As an alternative approach, merchants might elect to use niche marketing in their efforts to communicate with their most likely (and most promising) clientele.
What is it?
Niche marketing in Michigan involves the process of marketing goods or services to a smaller and highly defined target audience. It’s really a tailor-made marketing method for delivering messages with laser-like precision to prospective shoppers that have already expressed interest – perhaps through purchase history or involvement in a particular activity – in a particular area.
How Does it Work?
A local comic book store is a prime example of a retailer potentially taking full advantage of the opportunities presented by niche marketing. While decidedly a small percentage of the larger population, comic book lovers are a socially active, vocal group that can most likely be reached through messaging outside the general buying audience. A loyalty coupon appearing in a newspaper offering a free comic book would likely fall on deaf ears to a general audience, while that same coupon placed in a specific niche (in this case, another comic book) would be music to the ears of those particular customers.
Similarly, a local home improvement company might choose to host a vendor’s table at a home improvement expo, where prospective clients and the service provider can meet. The home improvement company is avoiding a blanket approach to marketing that reaches homeowners and non-homeowners alike, instead investing time and resources to connect where the odds are best for a solid return on investment.
When it comes to connecting with a very specific demographic, niche marketing is the ideal option.