Niche marketing is the key to success in an oversaturated market. The more you can focus your business on a small but very specific niche, the better chance that you will succeed.
It is a way to increase sales and profits by narrowing your audience. You can sell your products or services to a smaller group of customers, instead of trying to appeal to as many people as possible. By focusing on one niche market, you’ll be able to reach the needs of those customers more effectively than if you were selling something else entirely. This article will show you how niche marketing works so that it can help boost your revenue!
Step 1 – Find the right niche to pursue
There are many things to consider when creating an eCommerce business.
Finding the right niche is one of the most important aspects of your marketing strategy. It should be something that you’re passionate about or have experience with.
Finding the perfect niche will help ensure success because it will give you a better understanding of what customers want and how best to serve them. This knowledge, combined with a well-thought-out plan for marketing, can lead to excellent results!
For example, if you’re building an online store that sells shoes try to pick a market that you know will be interested in buying footwear. Perhaps the site could be related to one specific sport, like figure skating or soccer.
This will attract customers who are specifically looking for shoes that they can use while doing these activities. This would allow the owner to focus on a very specific customer profile and know exactly what they expect from the product.
Step 2 – Identify your target audience and learn what they want
One thing’s for sure: you can’t please everyone. And if you try to, you’ll end up with a very mediocre business. So instead of trying to be everything for everyone, put together a specific target audience and learn all about them: what they like and dislike; who influences them and how; what kind of sites they visit and why; even their language and jargon.
Then once you’ve done that, figure out how to provide them with something better than anyone else, or at least something that’s different.
Learn what your competitors are doing and find ways to improve on it.
NOTE: If making a niche-specific e-commerce website, you will want to make sure that you do not include products that your niche would not be interested in.
For example, if your store has soccer shoes and related accessories, you would not want to also sell computer parts or books targeting lawyers. Keep it relative and focused for the best results.
Step 3 – Find the best domain for your website
The website’s domain name is the first thing a customer sees and if it doesn’t make an impression, they will not be back.
The best domains are short and easy to remember like apple.com or facebook.com – but if you can’t find something that fits your business name, then choose a domain that looks professional and trustworthy.
For 25+ years trust has been built for the extension, .com. Our recommendation is to go with a .com instead of any other extension due to “trust”.
Your business name and domain should go hand in hand however if you have a long business name you may wish to shorten it for an easy-to-remember domain.
For example: NOW – The Midwest Soccer Shoe Company could have a domain such as MidwestShoes.com, NOWShoes.com, SoccerShoesNOW.com, etc.
Spend some time coming up with your business name and all of the domain variations you can think of that are visually pleasing, short, and easy to remember. You will discover that with billions of domain names already owned by others, this task may take a bit of time to find one that you can purchase.
You can use our domain availability tool located here. Those that are still available are marked “Available”. If you would like to sign up for our domain management account which comes with a free domain email service, search for your domain name and click “purchase” here.
Step 4 – Select your e-commerce service (we recommend Shopify)
There are many e-commerce options but if you wanted to get started fast and with a low learning curve, we recommend the SaaS company Shopify. Want a free unlimited trial? Click here.
Shopify offers tools that make it easy for anyone to start their own e-commerce store, even with minimal technical knowledge or experience.
They provide an integrated e-commerce platform, which includes all the necessary features to successfully run your business. You can also integrate your online store with other solutions to grow your customer base and generate more revenue.
Shopify is one of the top e-commerce platforms around, but because of its ease of use for any level of expertise, it has a competitive edge over other solutions.
Step 5 – Design a niche-specific e-commerce website
Successful e-commerce websites are built on a foundation of carefully constructed niche marketing. Niche marketing is the process of creating a website that caters to one specific group, or niche, rather than trying to cover all aspects of an industry. With these benefits in mind read below for some tips on how you should go about setting up your site.
#1 – Focus on a specific product or products that cater to your target audience.
#2 – Focus your design on their interests. Consider their demographics and what influences them when selecting colors and design elements.
#3 – Incorporate your unique offerings for example graphics or videos you have created to stand out from the crowd.
#4 – Use GTMetrix to create a free speed report and follow their steps to improve your speed if you have suggestions for improvement.
Step 6 – Create a “loyalty program” to encourage sharing and trust
The goal of any marketing strategy is to generate sales. For continued growth and success, we recommend setting up and encouraging visitors to sign up for a loyalty program. This provides visitors (not just paying customers!) with incentives, such as points or discounts, for sharing and recommending your store with their friends and family members.
Here is an example of how this may look – A visitor sees that you are giving away Amazon gift cards if they sign up for your loyalty program and share your website on their social media sites or through direct email. They will receive points that will help them climb to an incentive level that will earn them a $20 Amazon gift card.
They will earn points for things such as – Liking your Facebook page, sharing your site on their Facebook profile, inviting their friends to like your Facebook page, and sending a link to your website to friends directly through their email.
It may sound like $20 Amazon gift cards can become costly as incentives however when you consider the value of “trust” you will see quickly that this is a small price to pay! Friends trust friends and family more than strangers.
They are providing you with great service by using their trust to grow your brand; it is well worth a free Amazon gift card.
How do you set up a loyalty program?
If you decide to use Shopify for your e-commerce platform, there are many loyalty program apps available in their app store that will integrate with your store exactly as you need them to for best results. If you are using another platform, just search Google for “best loyalty programs” and you should find several options to choose from for your e-commerce store.
Step 7 – Launching and establish trust
When you have fully tested your website and are ready to go live, the most important step after going live is to create brand awareness by establishing trust in your brand.
What is establishing trust when it comes to your business?
Trust is one of the most important factors in business. It’s what makes people want to buy from you and come back again and again. The more they trust you, the easier it will be for you to sell them your products or services. But how do you establish trust when it comes to your business?
The answer isn’t simple because there are many ways that a business can build trust with their customers: through quality products, good customer service, fair prices, and knowledgeable employees just to name a few. So which aspects of your business should you focus on if you’re looking for quick results?
One quick way to start to build your trust is by including product info and as many photos, videos, and reviews as possible. The more transparency you can provide to your customers when they consider purchasing your product, the more at ease they will be about their choices and decisions.
For example, if you are selling the same soccer shoes that can be found on another website, you may secure the sale when they are comparison shopping by showing the customer photo’s that are not just stock photo’s, providing a more detailed product description, and displaying other customer reviews.
Some other ways you can help establish your trust are – Have a good return policy in place, offer free shipping, disclose your shipping location, your procurement process, or add personal stories for example on your “About Us” page to help them connect to you as an individual/business and not just a technically functioning website.
Another way may be by establishing yourself as an expert in a specific niche market. If you’re an expert, then chances are that you know your stuff and can answer any questions that your customers may have and they will return many times if you continue to stock your store with unique items specific to your expert area of focus.
Trust is a gift that continues to give. We call this free marketing! If your customers trust you, they will recommend you to others. Their friends will recommend you to their friends and so on.
Let’s take a look at Apple. They are known for producing high-quality products that last longer than most electronic devices. Why do we believe this? Well, they have been establishing their trust for many years.
Along with this, they have created an entire brand where their customers are loyal followers who are willing to pay more for the Apple brand. That’s because the customers trust the quality of their products and due to widespread trust, they are a “trusted” brand name.
Step 8 – Relationship building and acquiring customers
In the early days of e-commerce, it was possible to create a web store and hope for success. This strategy no longer works due to fierce competition in the marketplace. By creating an online presence through social media platforms, for example, you can create relationships with customers and help them get to know the products you sell.
The two most common paths are through building an audience or acquiring customers.
Building an audience
What social media accounts should you create?
This will be determined by your niche audience and products. Depending on where your audience “hangs out”, you may want to create profiles on any of the following – Facebook, Instagram, Twitter, Pinterest, and YouTube.
The first path is about connecting with people who like what you do and trying to build a following that will purchase your products because they trust you and have some type of loyalty to you.
This can be done by engaging in social media but also through blogging, creating product reveal videos, or other ways that help them get to know you and your brand to establish familiarity and loyalty.
What is organic outreach?
Outreach is when you’re reaching out to your target audience in hopes that they will purchase your products. In addition to communicating one-on-one with your audience through your social media accounts, you can organically create your own outreach by participating in niche-specific forums or by contacting industry influencers.
The second path is about purchasing ads on sites like Facebook, Instagram, or Google AdWords which will send traffic directly to your site where the goal is to make purchases instead of just clicking around looking for something interesting (which may not result in any sales).
For this route, it’s important to have a well-designed website so people convert when they get there. Implementing upsell and cross-sell functionality will provide additional opportunities for you to sell or sell more to the customer who has visited from an online advertisement.
If you want to grow your eCommerce business, then it is essential that you find a niche market and cater to them. Build a following and establish relationships with your customers and don’t be afraid to build a brand. Brands are built through trust and the more loyal followers you have, the better chance you’ll have at growing an online business that can potentially outgrow its niche.