Niche markets have its upsides and downsides for a marketer. But you must admit that it is a pretty exciting space. It is not boring because of the constant challenge, but it creates a sense of uniqueness that makes it a one-of-a-kind experience marketing. Every marketer should at least try to work for a niche market, this is where skills and creativity are tested. Let us take that challenge now.
Understanding Niche Markets
Niche markets are not a walk in the park. If a marketer is not committed, one would find it hard to understand the business overall. But we like to pride ourselves in tackling those that people rarely wants for a job, so here are a few tips in understanding how to market a niche business.
Research is key.
When you do not understand something, a good marketer seeks to know more about it. This is nothing new to marketers, but more so when you have a niche business. This is applicable to solar energy. Solar energy has been the buzz word for quite a while now but consumers rarely pay attention unless you market to a specific market that is really seeking it. But if you want to expand it to regular consumers, then a deeper than usual research is needed so your audience understands your product and why it benefits them to have one on their homes. Solar energy is technical, but like many technology, marketing does not need the technical jargon when presented (unless you are talking to the IT folks.). You can only do this when you have done your research well. This is the reason why most companies even outsource to third parties for unbiased information on specific markets they want to target.
Creating conversations that matter.
Because it is a small market, you need to go the extra mile to introduce your product or service to the market.
Connect with your prospect in multiple marketing channels. Here’s a good guide to start.
Your audience might not be as big as mainstream markets, but when you do find that audience, it will be as focused as ever. What does this mean? It means, these are the people who are actively seeking your services and have an immediate needs so make it easy for them to find you. You can always create a database out of these and evolve from there. Consumers thought solar power is just for the big guns. Because of the climate change, this market is slowly penetrating our homes and with good reason. It might be a good idea to talk about the effects of energy consumption in the changing climate. When coupled with good research, you can mention proof of the environment phenomenon for credibility.
Reach out. Niche industries have no business slacking off.
Mix traditional and new media.
Don’t be so quick to brush off traditional media. Some people like the old school while others prefer the new technology. In a small market, you are better off combining both efforts or tactics to make sure you reach the right target. Social media is abuzz and young savvy people like using it. But CEOs prefer the traditional personal phone call or direct mail because of its human touch.
When penetrating solar market, you might want to divide your demographics to get a promotional materials in pdf via email or as a downloadable guide; whereas the more mature demographics can be called on their homes during Energy Conservation month.
The possibilities are endless. However, do your homework to make sure you make use of your best tactics.