Ok so there is a whole lot of buzz words in that title so let me first of all break it down a little for you.
What is Niche Marketing
Large brands often have large marketing budgets so are able to advertise on a larger scale, think national newspapers, billboards, TV and radio ads. Where they can advertise their products to a huge, varied audience of people. But these adverts cost a lot of money. The downside of these broad marketing campaigns is that you are advertising not only to the people who may be interested in your product but also the 1000’s who have no interest in your product…and thats a bit of a waste.
This is where niche marketing and influencers come in…what if there was a tailor made audience specifically for your product. A niche market is just that, a much smaller audience of people who already have an interest in a specific subject. I’ll explain more in the next section.
Niche marketing is a very effective and cost efficient way to advertise specific products or services to a specific audience, who will hopefully become buyers of that product or service. One of the things that make niche marketing so attractive to sellers is that their advertising budgets go further. It costs less to advertise to a specialised market than it does to advertise to a broader market.
The Power of the Influencer
Quite often influencers will niche down into a specific market or demographic, and this is where their marketing power really comes into play. Take for instance a beauty blogger, they focus their content solely on beauty products, make up tutorials, new product launches, etc. Which means their following and readership have a high vested interest in the beauty market. This makes them the perfect audience for any beauty brands to advertise to…and an ad with a beauty blogger would cost considerably less than an advert in a national newspaper, where they may reach 10 times the audience, but only a tiny percentage will actually be interested in beauty, compared to the 100% of the beauty bloggers audience.
And you can find influencers within almost any niche if you look hard enough. A curry spice brand could find a chef or food blogger who specialise in a certain cuisine. A skate brand could find a roller derby blog. A dog leash company could work with a dog instagram account and restaurant in a city can easily find an influencer who blogs specially about attractions and events in that city. The list is endless!
Why Businesses should harness the power of Influencers
Influencer Marketing has become a huge business and so it should be. Magazine and newspaper marketing is no longer what it used to be, most of us have become desensitised to the traditional forms of advertising and marketing, after years of seeing the same content being recycled. Plus the cost of something like a national magazine campaign can be far more than many brands can afford. But those who are savvy enough to realise the power on the social media influencer, will realise they can reach a far more targeted audience for a far small budget by working with micro influencers. This has allowed smaller brands and individual creatives to tap into a huge amount of marketing that used to be out of their financial reach and allowed their businesses to reach new customers and grow.
Having all your marketing budget invested in 1 big ad campaign is no longer a wise idea. Diversifying your marketing and spreading your budget between a number of influencers and blogs means you can reach a whole range of targeted consumers. You’ll be visible across multiple platforms, and due to working with a number of different Influencers your actual ads will be fresher, different and quite possibly more creative. This helps them be eye catching and quite often create a buzz around a new product or service!
Some brands are really seeing the benefit of working with creatives and fans on sites like TikTok. They push the boundaries on traditional advertising and produce video results that are fun and have the ability to reach 1000’s if not millions of people if a video can go viral. Peoples attention spans are so much shorter these days, we consume so much media in tiny snippets, you need to be able to convey a message quickly, or find a way to grab attention in seconds to encourage people to keep watching…social media influencers are the way forward in this respect