Niche marketing benefits brands, and building a good niche marketing strategy is easier than ever, thanks to big data analytics and its ability to identify niche markets. As stated by the Digital Agency Network, niche marketing is less costly, it offers less competition, and it is a good means by which to create customer rapport and loyalty. During the height of the pandemic, it saved businesses in many industries – including specialized food products (such as wine), online counseling for depression and anxiety, and video conference software. Companies across the globe were faced with the challenge of renewing their marketing strategies quickly, and many of those that thrived embraced both digitization and niche marketing.
Industries Embracing Niche Marketing In The Post-COVID World
As found in Intersog’s white paper, IT Business in Times of Global Crisis: How to Hold Positions and Grow Sales, many new demands arose during COVID-19, and these demands are likely to continue in the months to come. Just a few include the demand for medical technology (including software for virtual conferences and diagnoses), cleaning and sanitizing, online and contactless payment, lending (owing to unprecedented unemployment levels), e-learning, streaming, and cloud-based entertainment. Gig economy platforms are also thriving, once again owing to the effects of unemployment and the growing interest in remote working models. SaaS for business is also booming, since it offers businesses now working from various locations numerous benefits – including accessibility, updates, saving and storage, and data and analytics.
Online Retailing And SEO
Niche online brands from across the globe saw a surge in sales as stay-at-home orders began what, to this day, is a strong preference for online sales. In the post-lockdown era, many customers have become accustomed to ordering and receiving niche goods (think biologically appropriate dog food, biodynamic wine, or contact lens subscription services). Owing to factors such as high unemployment and the termination of contracts, online legal advice subscription services have also enjoyed healthy growth – as found in the Online Legal Services Market Report. Therefore, SEO services for the legal industry and other niche markets have become a key way for online companies to connect with target audiences. Companies that strengthen their SEO are able to establish their practice’s foothold with high local SEO rankings, while also reaching a wider (potentially global) market. Knowing how to measure SEO and adapt one’s strategy accordingly is key in order to receive the best ROI possible.
A Good Niche Marketing Strategy Can Help You Connect With Any Audience
Niche marketing may seem more difficult than it is – particularly if you’re trying to connect digitally with a supposedly ‘challenging’ audience – including seniors, who may still be struggling to undertake online transactions. If so, taking a look at case studies may show you how to overcome obstacles. In an effort to promote its products for leg cramps, homeopathic medicine company, Hyland, founded a hyper-niche content platform called Pickleball Channel, which has become the largest media outlet for this sport. The channel, which includes tips on how to improve, news, and inspirational stories about players, is a way to connect with boomers and seniors (who are Hyland’s target market). Poppy Barley, meanwhile, is a shoe company attracting urban professionals who are willing to pay a higher price for ultra-comfortable shoes.
Niche marketing has been a vital way to connect with a target market since before COVID-19, but in today’s current economic recession, it has become a key strategy to ensure business survival and growth. Just a few worldwide companies fulfilling niche demands include those working in SaaS, SEO, and medical technology. Niche marketing begins by analyzing a new demand and finding a way to fulfil it, while also aiming efforts at markets that can benefit a business’ product or service ROI.