What's Your Niche Marketing Strategy? Implement these 5 steps to a sound Strategy and you'll be a niche marketing pro in no time.

1. What's Your Niche Marketing
Strategy?
A market niche attempts to address a specific market need.
Niche Marketing is the act of focusing all of your marketing efforts on a small
but specific and well-defined segment of the market.
5 Steps to a Sound Strategy:
Determine market need.
Be specific. What is the market need? Is it a new niche or a
currently underserved market?
Understand your competition.
Who do you compete with day-to-day? Understand that there
are differences between competitors. You can compete with large
players, those that are just like you or those that are close
substitutes. Define your competitors carefully.
You cannot be everything to everyone. You need to be specific
which requires focus. Then, research your target market. Listen
to and observe them. What do they do online? Where do they
go? How do they engage? How do they consume content?
Understand their behaviors so you can craft accurate personas.
Define the specific target market and conduct
research.
Execute your plan. Always be in the mode of refining your
strategy.
Launch, Test and Adjust.
As you are doing your SWOT analysis, look for how you can
differentiate yourself. Where does your uniqueness intersect with
your target market? This is your strategy. Narrow your focus to
those activities that align well with your uniqueness and will
resonate with your target market. Remember to start small.
Niche Marketing takes time.
Differentiate yourself via running a SWOT analysis.

2. Benefits of Niche Marketing:
Niche players can be
more agile than their
enterprise
counterparts and can
adapt to marketplace
changes more quickly.
Niche markets are
less crowded so niche
players have more
opportunties to stand
out as a thought
leader.
Niche players have the
ability to connect with
their target markets
quicker and provide the
content they want.
Since niche players
double-down on
research, they can hone
in on other
opportunities others
might not be aware of.
Because niche players
are continuously refining
through research and
testing, they can move
prospects down the
funnel much faster.
Through refining
their marketing
activities, niche
marketers can
become very skilled
at nurturing their
communities.
What's Your Take?
@M4_Comm
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