What you need to know about target demographics and niche marketing

Finding a target audience or a niche market is a large step that a business owner has to take, whether it is before officially starting a business or changing brand directions eventually. The two are very similar things that can often be confused, but you will come to find that they yield different results! 

A target audience is a large group that sits in that happy place where what you do overlaps with what your audience cares about. A niche market comes into play when you choose to hyper-focus on particular aspects of the larger target audience. Niche markets are just smaller and more specific breakouts of your target audience. 

Instead of marketing to everyone who could benefit from a product or service, niche marketing focuses exclusively on one group or demographic of potential clients who would most benefit from the services. A niche market could stand apart from the larger group because of location, lifestyle, occasion, style, profession, culture, behavior, needs, or habits. 

For example, there is a company that sells exclusively left-handed friendly products. Lefty’s: The Left-Hand Store found a hole in the market for people who are left-handed, so they filled it with their products, marketing, and branding. They sell spatulas, scissors, oven gloves, etc. that cater specially to left-handed people. Tons of companies sell these general items, but Lefty’s found a niche market and focused their marketing efforts solely on their specific demographic. 

Niche marketing is all about making a connection with your audience and engaging in conversations with them. It also makes it easy to identify the exact needs of your potential clients and can help you develop greater brand loyalty and separate yourself from competitors. You also learn more about your audience in less time, which can save you time and money in your marketing efforts. 

Finding a niche market sounds pretty simple, but sometimes niche marketing can hurt instead of help. Since it is so specific and targeted, some companies cut themselves off from potential growth because they focus on one small group. If you’re trying to decide whether to just market to a target demographic or a niche market, there is one main question you have to ask yourself as a business owner. Where will this place you in terms of competitors? 

There are many other questions to ask yourself and your team before deciding on how to tackle a target demographic. Schedule a consultation with VALLETTA now, and we can help you locate your demographic and market your business successfully and efficiently!