27 Jan Examples of Excellent Niche Specific Marketing Campaigns
The traditional types of marketing, such as print ads, TV spots and telemarketing are still around today, but people are coming up with more and more creative ways to sell their products. With the internet playing a huge role in today’s society, companies mostly rely on viral marketing. There is search marketing – placements on search engines like Bing and Google, direct marketing – sending messages directly to the customers via email or text, social media marketing – paying for ads on popular social sites such as Facebook, Twitter and YouTube and many more. But this is all basic stuff, we are all well aware that there are numerous ways of how you can advertise a certain product.
Of course, there is a question of investment and a question of return on that investment. If you are planning on launching a product in an industry that is highly developed – the question of costs are bound to make or break your company. It is a matter of precision of a thorough analysis and it takes a lot of time and dedication to actually gain profit. Luckily, one of the ways the newcomers can successfully compete with them is with niche marketing.
What is niche marketing?
Niche marketing is a marketing plan that targets a specific section of the market that has high potential to connect with a particular product. It caters to the needs of a certain group of people – needs that mainstream companies are not meeting. Instead of trying to reach the mass market and focusing on large campaigns, niche marketing concentrates on strategically selected platforms that have high concentrations of the selected demographic.
Examples of niche marketing
- Organic food: Started as a counterculture movement in the 1970s, the market rose to prominence in the first decades of this century due to consumers’ health concerns.The organic food suppliers target consumers interested in healthy life style and environmentally friendly products.
- Collectibles: Action-figures are attracting adult collectors. Some companies specialize in re-selling vintage toys, such as old Star Wars figures and others in making custom made or limited edition figures. For example Hot Toys Limited is known for producing highly detailed collectibles, with prices ranging from a couple of hundred to thousands of dollars.
- Vintage items: In recent years, the demand for retro products is rising. Gramophone players, vinyl records and cassettes experienced a growth in sales. In 2012, Phillips saw the opportunity and introduced their portable cassette players with added MP3 ripping facility to it, allowing the purchasers to convert their cassettes into other formats.
- Specialty goods: In convenience stores, the most accessible produce will be purchased, in the specialized stores – only a specific brand. The main factor is never the price, but the quality, personal preference and style of the product. Cars are the most obvious example of this. Toyota was the company to realize the public demand for an environmentally friendly automobile. Therefore, they developed the Toyota Prius –first mass-produced hybrid car.
- IT: The latest campaign coming from Swiss-based cloud storage company, pCloud is certainly drawing attention. Their crypto hacker challenge has already drawn 2000 people to take a shot at their encryption system. With zero success in breaches this far, the only thing that pCloud is gaining is great marketing and a lot of positive attention. Try joining their campaign and take a shot at winning 20,000 dollars.
Once you identify your client base, it will allow you to create a specific marketing plan for them, preventing you from wasting money on different marketing campaigns. Providing a quality alternative to industries generic products, you can afford to demand higher prices. Furthermore, the more you narrow your niche, the less competition you have.
The more you focus on a specific clientele, the income potential is higher, but you have to make sure you are not being too specific or too niche. Your services or merchandise may be of interest to an only small group not big enough for you to make a profit.
Every investment is a risk, but with the right amount of management, niche marketing should be a right move for you. Narrowing down your ideas, finding just the right niche and sticking with them can increase your income and enable you to market yourself as an expert in that field. It can save you money and bring more than you expect.