Niche marketing will save you time and money. It allows you to go after a target group instead of going after every single person, which can get really expensive.
Look at niche marketing as fishing in a smaller pond with a bigger net, instead of mass marketing with a small net in an ocean.
It is your responsibility to figure out who your target market is. Are they older or younger people? Married or single? Rich or poor?
All of these questions play critical roles in the way you market your product or service. For example, if your product is yachts, you would not want to market to poor people. Why? They don't have enough disposable income to buy one.
Is it better to market within a niche or market to the masses? The answer is to market within a niche. Going after a smaller segment of people instead of going after all people is more effective, doesn't cost as much, and produces better results.
And with lowered cost you can make a larger profit.
Even the large companies that you know use this type of marketing. It may seem like they are marketing to the masses but they are targeting a specific segment of society.
For example, daytime television advertising is different than the advertising at night. Why do you ask? The people who watch TV during the day have different needs than the people who watch TV at night.
During soap operas and talk shows, they mostly show advertisements for feminine products. This is because the majority of their viewers are women.
During a sports event, the majority of the watchers are men so they advertise trucks, beer, or tools. Things that men would buy. One thing you will NEVER see is a tampon commercial during a football game.
You must focus on a specific segment of the market.
You will go broke trying to advertise to everyone. Find out who is best suited for what you have to offer and go after them.
