I was at the mall recently, and I couldn’t help but notice how pesty some of those kiosk people can be; you know, the ones who spot you coming from a mile away and want to chat your ear off about anti-aging face cream. I understand it’s their job, but I just want to get on with my shopping and get out of there before the whole day is gone.
In their defense, I was at a mall. I was there to spend money. I could make a great candidate for overpriced makeup or hair products. It’s not where I’m being haggled that bothers me. It’s how. If I’m not interested in the product, why force it?
In the marketing world, brands must balance this kind of stuff all the time. This is why marketing to highly targeted groups of people is so important. You don’t want to waste your time or other people’s time. You want to invest in the right people.
Your marketing strategy narrows down to two main options: mass marketing and niche marketing. Let’s explore what each of these mean and why one is better for your health than the other.
Mass Marketing vs Niche Marketing
Mass marketing is a marketing strategy that relies on mass distribution. For some products, this method of marketing works well. Many, many people drink Coca-Cola or use FedEx.
On the other end is niche marketing. This type of marketing is more targeted, showing your products to a small group of people with specific interests, preferences, wants, and needs.
As good as mass marketing may sound, it’s quickly phasing out. Very few products are suitable for everyone, and unless you have something like that to sell, niche marketing is the better option. Let’s look at an example.
Real-World Example of Niche Marketing
Imagine that you work for a company that sells home workout equipment. At first glance, it would seem that showing your products to everyone is the right choice. All people care about their health and want to look and feel better, so why not?
Here’s the thing. Not everyone cares to exercise. And even for those who do, some prefer working out at the gym or running outdoors. Right there, your audience has been narrowed down. Showing your products to everyone would only burn through your advertising dollars and put you against all competition.
With niche marketing, you can show your workout equipment to a highly targeted group of people. You might want to target individuals between the ages of 25-55 who enjoy working out at home. Your audience will be more attentive, your costs more controlled, and your campaigns more effective.
There’s no reason to knock on mass marketing, but it’s not a form of promotion that works for most small and midsize businesses. With the majority of U.S. businesses being small, it’s understandable why mass marketing is going out of style. In the end, it’s better to go deep than wide.
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