Targeting Niche Markets: 5 Things to Keep in Mind
- Posted on: Jan 11 2013
Keeping an aesthetic medical practice or other aesthetic business alive and thriving during tough economic times can be difficult. For nearly 6 years, businesses have been struggling to develop new marketing plans and bring in new clients. Tapping into niche markets and ethnic consumers is one way businesses can start growing their client base.
1. Know your market
To successfully market to ethnic and niche markets, it’s important to understand what makes up the market. When marketing to niche markets, it’s vital that you use messages that are culturally sensitive and relevant. Prepare yourself to respond to potential consumers in a culturally sensitive manner and be ready to adjust your approach.
2. Word of mouth travels quickly in niche markets
Ethnic and other niche markets have their own media that speaks directly within that market group. Word of mouth tends to travel quickly through niche markets because the groups are so tightly connected, which is what makes reaching out to these potential clients highly beneficial.
3. Targeting a specific culture or lifestyle helps promote brand loyalty
In the world of aesthetic marketing, there are typically two variants of niche markets. Race-based markets and cultural and lifestyle based markets. Retailers are beginning to reach out to gay consumers for their high buying power. Gay consumers are responding positively with brand loyalty.
4. Be careful your marketing message isn’t too narrow
Some businesses risk backlash from consumers outside of niche demographics, which can be bad for business. Niche marketing can lead to consumers asking if they belong in the product’s demographic at all and that’s the last thing you want. Be niche, but be wary of alienating loyal customers that don’t fall into that particular race or cultural category.
5. Conversely, be careful your marketing message isn’t too broad
Take advantage of specialized niche media and avoid going after narrow markets with big broadcast marketing messages.
There are pros and cons to advertising to various niche markets, but the opportunities within these markets is too great to ignore. There is a wealth of opportunity to reach out to clients and patients with certain needs based on race, gender, lifestyle, or other factors. Take a special approach to niche marketing by focusing on the factors that matter the most and you can show prospective clients respect while welcoming them to your business or practice.
Have you had any success with niche markets? Tell us in the comments below.
For more information about targeting niche markets contact Beautiful Forever the leading day spa consultant and aesthetic business consultants in the country.
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