Mass vs. Niche Marketing: Which is Right For You?
Is your product something that interests all types of audiences? Or does your product meet a specific need for a specific group? These are the questions which will determine your marketing strategy. There is a place for both mass and niche marketing. If you implement the right strategy, then you will successfully reach the audience that will become your customer base. If you do not market correctly, then you will be limiting your customer pool, never reaching the people who have a need that you can fill.
Advantages of Niche Marketing
The cost of materials in niche marketing is less than that of mass marketing. Your postcard, flyer, poster, and booklet printing will be used to reach a much smaller audience; therefore, you won’t need to print as many items because you won’t be giving away booklet printing pieces to people with no need for your product or service.
In addition, niche marketing is better at reaching customers that have a specific need. When you focus your marketing on specific groups of people, they are more likely to hear you.
When Niche Marketing Works
Niche marketing works when your product is designed to meet a need that only a percentage of the population has. You can focus your marketing budget on brochure and booklet printing for a target audience rather than reaching out blindly to a general group.
Niche marketing also works for a spin off product that is made for a specific need that your main product does not meet.
Finally, niche marketing works when you want to expand your customer base by adding a feature to draw a new group.
Advantages of Mass Marketing
The costs of production are lower with mass marketing than with niche marketing. A company’s marketing is generalized, so there is little need to research and find out about specific needs of audiences.
Another advantage is that the producer can close all markets from competitors.
When Mass Marketing Works
When you have a product that is needed by everyone equally, mass marketing works well. Many food products, for instance, can be marketed generally. Oreo cookies can appeal to grandparents and teenagers alike. Everyone needs a car or a microwave. These products don’t need niche marketing. Create a general appeal and spend your marketing dollars on mass marketing.
Once you have determined who your product will help, then you will better know how to market it. Niche marketing is a great way to go for most products, as every product will appeal to some people but not every product will appeal to everyone. Use your marketing budget to either reach more people or a more specific group of people. Let your product or service guide your marketing strategy, and you will have success.