The relevance of niche audience in business – Mike Giannulis shares ways to locate the niche audience

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Every marketing expert emphasizes the need to connect with a niche audience. Businesses must recognize and concentrate on a set section of people and their needs, wants, and interests. It is essential to discover a niche audience that resonates with a business brand that will lead to business growth. But there are a few brands that don’t search for a niche audience and focus on a broader audience. They get fooled by the size and think having a smaller audience means having lesser conversion. It would be best if you never were the business brand that stops progress because of misconceptions.

Mike Giannulis shares the importance of a niche audience

One of the most important reasons to connect with a niche audience is to help you outshine your competitors. Around 86% of the customers decide the brand they wish to support depending on the authenticity. And one of the best ways to stay authentic is to concentrate on particular demographic requirements instead of selling to every person. If you are loyal to a niche, you will automatically draw significantly fewer companies than your competitors. However, business brands must develop a close bond with a niche audience.

Ways to select the niche audience

According to Mike Giannulis, the best way to recognize the niche audience is through audience segmentation. It is a process using which you dig deep to identify subgroups within a generic audience that businesses can target through customized messaging. The subgroups might get based on a broad range of demographics. Few strategies to use here are:

1. It would be best if you asked the right questions

The technique of recognizing the niche audience starts with a conventional brainstorming process. It would be best if you focused on the following questions about your current customers:

  • What is the age bracket?
  • What is their profession?
  • Where do they live?
  • Do they travel frequently?
  • Do they have any interests or hobbies?

2. It would be best if you researched the competition

Most brands want to target a niche segment where there is no competition. However, it is still useful to research how competitors approach niche customers, especially during the initial business stages. You need to understand the competitor’s marketing and check the audience they are connecting with. Is there anything specific they are doing to keep the audience engaged? You should also check the way the audience is responding. It will help you to streamline a strategy that works for your business.

3. Think beyond the conventional demographics

The conventional demographics usually consider education, age, income, location, and gender. While all these facts are essential, it is smart to move past this information when creating a niche customer group. You can mix a few factors that are necessary for your brand. Are you selling baby clothing? If yes, age might be an essential factor to consider. Simultaneously, it would help determine whether the parents are willing to opt-in for organic material and customize your marketing strategy accordingly.

When you have a niche audience, there is a definite brand demand and recall value. The ways mentioned above are a few techniques to find your niche audience for your business at any stage.

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