The Niche Market Marketing Hype

In the past few months, a number of my associates have come to me very excited about the marketing help they found from a specialist in their field. There always seems to be a hot new trend in marketing. This year, it’s all about the niche. Unfortunately, all things hot tend to fizzle.

The reasoning behind hiring a niche market specialist is sound. People will buy from those they believe understand them and their needs the best. Writers will buy from agencies that specialize in promoting books. Insurance agencies will hire web designers who specialize in insurance agency websites.

If things were always as they seem, it would be prudent for business owners to hire a specialist. After all, consumers do it all the time. If you want the best camping gear, do you go to a department store or to REI? The problem with applying this thinking across the board is that many businesses catering to a niche market actually have no special expertise in the niche they serve. They have simply rebranded themselves in order to make more money.

The legal profession is a niche market on which many wish to capitalize/prey. They are lawyers. Where there are lawyers, there is money, right? So why not specialize in online advertising for their unique market? Honestly, in most cases, this is nothing short of a trick to make business owners think they are getting a premium service.

What most people don’t realize is that the expertise needs to be in the service offered, not necessarily in the business they serve. The product or industry does make a difference, but expert marketers will know how to adjust advertising accordingly. If they have been in business for any length of time, they will have experience spanning numerous industries; and, frankly, this wider array of experience is an asset. Specializing too narrowly can lead to methodically building campaigns, instead of actively researching and strategizing with an open mind.

As I said, niche market services make perfect sense at the consumer level, and even business to business. Staffing Perfection in Atlanta, for example, specializes in both legal staffing and medical staffing. That is really what their business is about. They aren’t just a temp agency that decided to specialize as a tactic to charge more money.

The abuse of the niche market trend is primarily in the advertising and marketing arena. If you are about to ramp up your marketing, look for a company with experience, expertise in what THEY do more than what YOU do, and check their reputation through the normal channels. I wish you well!