Niche down to dominate the market

New Ideas in MarketingEssential news for marketers, summarised by YouGov
May 06, 2021, 2:07 AM GMT+0

Businesses can try picking a niche to be the leader in a specific section of the market.

Niching down to a particular area of the market enables businesses to dominate that part of the market. Niching down, also known as the Blue Ocean Strategy, will help brands stand out in crowded and competitive markets, as it allows them to focus on a specific audience section.

For example, brands selling electric bikes would want to dedicatedly cater to off-road adventurers to extend reach. However, marketers must craft clear and precise messages focused on a particular demographic and highlight product features that align with their lifestyles.

Analyse sales history to identify loyal consumers. Look for popular search trends relevant to the business to find a “blue ocean” or niche. A site and its content that caters specifically to this audience without pushing for sales is a must.

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