Who are you trying to market your company to? While it may seem wise to target a broader audience, focusing on niche demographics can lead to bigger payouts. There are so many niches out there that finding a few for your goods or services may be easier than you think. Start by running analytics from your social-media accounts or by polling your fans to see who they are, where they are, and what they want. Your business likely already has natural leanings towards a few key markets, but are you catering to them all?
There are some companies, like student resell service Flippze or scholarship finder Scholly, which have a pretty obvious target demographic: college students. This is a marketing niche that can be lucrative for a number of industries. Think custom screen printers, care-box delivery services, or textbook exchanges. Going big isn't always the answer. Here are a few ways to go niche with your marketing.
1. The Bereaved
Is it a little morbid and does it require an empathetic touch? Of course, but this is one niche demographic that will remain constant. It's of course a delicate niche, too, which is why it may require a little more prep work than others. However, when done well, you can enjoy tapping into a lucrative market and feel good about the support you're providing, too.
2. Baby Boomers
This is a very broad market segment, but also one that is flush with cash and getting increasingly internet savvy. There are so many baby boomers that you have a wide variety of different personalities and life experiences to approach. Baby boomers might be workers who are struggling to keep up with the digital era. They might be company CEOs or executives who know internet culture like the back of their hands. They also aren't retiring the same way past generations did. Many are committed to remaining active, enjoying brand new careers, and want businesses that cater to their unique situation.
3. College Students
As previously mentioned, this is a lucrative niche that can be surprisingly well paying. College students may be flush with scholarship money, student loans, fellowships, or even mom and dad's credit card. It's their first time having real money of their own (kind of) to spend, and your business should try to get a cut of it.
4. Fitness Fanatics
The health and fitness industry is booming, and some studies are showing that Americans are finally starting to get healthier as a whole. A Flurry Analytics study found that in 2014, the almost 7,000 health-related apps in the iOS app store saw a more than 60 percent increase in usage. The study revealed that huge swaths of working Americans are becoming increasingly interested in staying healthy and active. The research pointed to "mothers age 25 to 54 who are sports fans and lead healthy lifestyles" as being perhaps the most fitness-oriented.
Focusing on serving the most recent arrivals to your country is a reliable way to generate sales for your business. This demographic is attractive for legal, medical, translation, or interpretation services, as well as beauty and personal products, among many others.
Anyone who spends a lot of time on the internet may have noticed our culture's ongoing obsession with tiny houses. Tumblr blogs, subreddits, and various publications all feature regular coverage of very small homes, often built by industrious folks who want to get off the grid. There's a connection between this tiny house trend, going fully green, and Americans' desire to get back to basics. Green energy, sustainability, and unplugging are heating up, which means it's just the right time for you to focus on this market. Also remember that taking a more eco-friendly approach can lead to tax benefits and good karma.
The underlying point here is that you should take an active role in defining the market for your business. Look beyond vast consumer landscapes and narrow your focus to the most appropriate marketing demographics for your company. By focusing on better serving your best matches, you'll develop better products, happier customers, and make a name for yourself in competitive landscapes.