There are nearly 8 billion people on the planet currently, and trying to market to all of them is a huge mistake. Just because your product would appeal to a large group of people, it doesn’t mean that you should cater your marketing to the global community. Instead, try to target niche demographics. If you can find a niche demographic that would be directly interested in you, then you can direct your efforts.
Targeting everyone means that you’re competing against the largest companies who have substantial resources and marketing budgets. People simply won’t choose a small, new company over an established one they trust – especially if your prices are the same. That is why, when you are first starting out, you need to find out what demographics would be interested in your products. These demographics might not even be a group that you’ve ever considered or known about before, but marketing to them will get you a much higher return on investment (ROI).
To find these groups and to determine what your niche can be, follow these steps:
There are two ways that you can research. The first is to simply conduct online searches for what people are using your kind of product for. The second is to conduct your own studies by organizing focus groups. Conducting your own research can help you answer more specific questions and can also help you determine what the public thinks of you and your products. This research can then be used towards improving your image, your product, and your marketing tactics.
Stay Connected Online
When people use your products for innovative purposes, they will likely share it online. That is why you need to create social media accounts and hashtags that they can use so that they can link these photos to you. Many creative and innovative influencers will do this to get the attention of the companies in question. The goal for them is to start a partnership with companies who make products they use and like. You don’t have to hire every influencer who does this, but keep an eye on what they are doing and how they are using your product (and how much attention they get). You could find a whole new market you have never thought of before that results in higher sales and more repeat business.
Don’t be complacent, know what your demographic wants. Aiming to provide constant and increasing value is how you’ll get a strong audience of people who trust and buy from you. Some of the biggest inventions in history were created by mistake, with a different goal in mind, like artificial sweetener.
Targeting several specific groups will get you more attention and more sales than trying to market to everyone. That is because when you offer an answer to a specific need, people respond. This is especially true if you don’t have any competition in that demographic. Aim for niche markets, and you’ll have more buyers than trying to market to a larger group.