5 Benefits of Niche Marketing


Niche advertising or niche marketing in general can give a company many advantages. It can be in the form of monetary value or even an advantage over other companies within your specific industries. So what are these benefits?

The five benefits of niche marketing are product specialization, brand familiarity, sales growth, reducing competition and customer retention.

  1. product-development-1024x440Product Specialization– If you make use of a niche market as part of your marketing strategy, then product specialization can be expected. Since there is a narrow market in which you are serving you can improve and continually modify your existing products for your existing customers. Product specialization can also help you build up product awareness among the customers. Product specialization also helps you save capital goods and supplies. So if you do niche marketing, surely you will also see the benefits that it could bring.

  2. familiarityBrand Familiarity– A niche market is much closer to the customers or the target market. By using Famous Frames storyboards you can make it easy for the customers to understand the characteristics of the product. They will be able to understand the elements of a product which includes the core product, the actual product and the augmented product. Indeed, niche marketing can enhance brand familiarity among the customers. It’s not only beneficial to the customers but also to the company as well.

  3. marketing (1)Sales Growth– Since niche marketing focuses on a few segment of the market, surely reaching out to them would be an easy job. This means that by using segmented advertising and other promotional mix tools, sales growth can be achieved.

  4. Lessen Competition– If you are planning to target all the market or mass marketing, what do you think will happen? On the bright side, you can definitely gain more sales since more people will buy the product, but have you given a thought to the competition around you? If you go to mass marketing, tendency is that you will experience a tight competition where everyone dares not  lose. So, what will happen to your sales and profit? Eventually, they will decline and lead to your demise. On one hand, if you opt to smiling-delight1go for finding a storyboard artist to help, you will definitely narrow down or lessen the competition. Since you will only target a portion of the market, then you will not have to compete with big companies.

  5. Customer Retention– With niche marketing, there is a reason to believe that customer retention will be possible. With the techniques done in order to successfully implement niche-marketing strategies, customers will be able to get a grasp of the message of that advertising campaign.

With the help of niche marketing, you will surely be able to enjoy these five benefits. You will have product specialization helpful in keeping costs to a minimum. Also, the customers will be very familiar with your brand and eventually lead to sales growth. Lastly, this type of strategy will lessen the competition compared to a mass marketing strategy and be able to retain more customers in the long run.