Suppose I have a product called “Machine X”; it is expensive, only used in a very specific field of medicine and requires a lot of expertise to use. To market Machine X, should I put up a billboard advertisement? How else would I find my customers?
This is why Inbound marketing* is suited for niche industries in which companies manufacture highly specialized or industrial products. Outbound or mass media marketing does not work as the target buyers are a very small proportion of consumers.
We have discussed why inbound marketing can be more effective than traditional marketing, and that has never been more evident than in B2B businesses and niche industries.
Everyone is online in this digital age, and contrary to popular belief, that includes people in very niche markets. Hence, you can be confident that prospects will find you through using the search engines very easily if you have an online presence.
Why does niche-market content draw desired traffic (buyer personas) more easily?
Because it speaks to a specific audience, rather than a broad bunch of people, therefore it is easier to meet the wants of this audience, as they will be on the same wavelength as you. They are also likely to have prior knowledge regarding your products and able to understand industry-specific terms so you don’t have to simplify your marketing to cater to a general audience.
Often, markets for mainstream products have become saturated and competition in getting the lion's share of website visitors gets intense. Conversely, in niche markets there is less competition online as there is less information available.
Website traffic will come from people who are genuinely interested in or curious about your product, as they are taking the initiative to look for you. Relatively speaking, you won’t get a lot of prospects, but they tend to be of good quality in the sense that they are more likely to be converted into warm leads. Expect a small number of interested visitors rather than hundreds of non-prospects, but a high visitor-to-lead conversion rate.
There are 2 main ways to consistently provide niche content:
1) Interactions with prospects and customers
By interacting with your prospects, through social media or inquiry/support channel, you can discover the concerns of your prospects, Your Q&A experience with them will form the basis for new concepts and ideas which you would otherwise not have thought of using your own brain power.
2) Industry news and updates
In certain niche industries there tend not to be a lot of sources of information online.
People are actively seeking the latest information, so if you make your website a reliable source of information with prompt updates, they will be more inclined to follow your social media channels and trust your company.
Reviewing past and present trends in your niche market can also give you a good sense of where your niche is heading in the near future, so you can create content that appeals to new prospects.
The key to success in niche businesses is to ignore what the rest of the world wants and focus on providing quality content to your target market.
* Inbound marketing is a form of digital marketing that involves SEO, Social Media, blog and landing pages to generate sales leads.
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