The Benefits of Social Media Strategy for a Niche Platform.
Ever wonder what your niche market is? It is specializing in a target market or audience with a specialized offering. When it comes to niche marketing, getting in front of the right people is more important than getting in front of many people; if you don’t have the right people following your brand, they won’t be making the purchase and telling people about your brand. The more people know about your brand, the more they will tell others about it.
According to Nick Huss at Siteefy.com, there are over 1.29 billion websites, billion with a “B” in the world as of October 2020, which shows a niche market for almost everyone and anything. Once you find your niche market, niche platforms present an opportunity to separate you from others in your market. Niche marketing targets a particular kind of customer, so depending on what you’re promoting, your niche market may be very small or large.
According to Sarita Harbour, differentiating your brand from the fierce competition is a challenge. Still, the answer lies with your audience. Adding a niche-marketing approach to your digital strategy is your solution. Once you identify a niche market within your audience, you can target your niche market members outside of your current customer base more precisely because you know exactly the target market. Also, niche marketing enables brands to reach profitable customers in a more personalized way, which improves conversion rates.
Niche platforms can also make it easier for people to find a specific group of people to interact within the same niche. An example of this is Goodreads. Goodreads is the world’s largest site for readers and book recommendations. Founded in 2007 and recently bought by Amazon, Goodreads lets customers interact with others about their favorite books (or not so favorite books) depending on what group you are looking for. Their mission is to assist people in finding and sharing books they love. With over 90 million users, some of the things you can do are join reading groups, see book ratings, make reading lists, and set reading goals. Unlike many other niche platforms, Goodreads is just for book lovers and those who want to find people who have the same interests or want to find books in genres they like.
An example of a brand with success with a niche marketing strategy is Untuckit, which creates shirts for men and women who prefer to wear shirts untucked. There are thousands of shirt companies on the market, and Untuckit has dedicated itself to developing over 50 types of shirts, polos, and jackets to wear casually untucked. Untucked started in 2010, with one small store in SoHo, New York, New York in 2015, it has expanded to over 700 employees across 70 plus stores in North America.
This is just one of the many niche market examples that have made a success in their market. Nonetheless, if you think you have a niche, creating a niche market with others with the same interests is the place to start. Starting an online presence is very important in expanding your niche to draw people’s attention to help grow your business by word-of-mouth.
Huss, N. (2021, January 23). How many websites Are there around the world? [2021]. Retrieved February 03, 2021, from https://siteefy.com/how-many-websites-are-there/
Harbour, S. (2020, April 1). What is Niche Marketing? And How to Win Your Market. Taboola Blog. https://blog.taboola.com/niche-marketing-win-market/
Riccobonno, C. (2012, January 24). The Ideal Shirt for the Untucked Man. UNTUCKit. https://www.untuckit.com/pages/about-us