The expression, “Jack of all trades, master of none” necessarily means that a generalist can do everything in a decent enough way, while a specialist does one thing exceptionally well. The same holds when you are trying to sell a product online.

What Exactly Is A Niche Market?

A segment of a huge market that can be defined by its unique preferences, needs, and identity that makes it differ from the market at large is a niche market.

For instance, there are many different segments or niches for women’s shoes within one large market. Shoes for vegan women would be a niche market, as would be shoes for nurses, shoes for plus-sized women, shoes for transgendered people. These are all considered niche markets for women’s shoes. 

Almost every market can further be refined by the particular preferences and needs of its constituents. The common ways to define a niche are based on

  • Price (like whether it is luxurious, moderate, or discount)
  • Demographics (age, gender, income level, educational qualifications)
  • Level of quality (whether premium, handmade or economical)
  • Geographics (inhabitants of a certain city, country, or even neighbourhood)
  • Psychographics (interests, values, attitudes) 

While having a specific trending product idea in mind you can easily increase your odds of success by starting with a niche market and examine closely the market to find niche products with a possible market fit.

What Is Positioning Of A Product?

A strategic process that involves marketing the product or brand in a specific way to establish an image within the minds of consumers of the target market is known as the positioning of a product. 

If we look at Starbucks, we can see that they created this video advertisement proposing the following value statements

  1. Rich and smooth flavour
  2. The best coffee 
  3. The finest milk used 
  4. Hundred percent recyclable paper used
  5. Natural and clean

All of these values mentioned in the video advertisement gives a sense to potential customers that they are going to receive high quality, green and upscale beverages that they are going to love.

So, just like Starbucks, the market positioning of a brand or a product must be maintained throughout the life of the brand or product. 

For years now, Starbucks has been the best coffee provider. People cannot get enough of it!

Just like them, any business will have to create ongoing marketing initiatives intending to reinforce the target market’s understanding of the product or brand.

How do you do that? How would you create a strong marketing position strategy? Let’s take a look into what an effective market positioning strategy looks like!

One of the smart moves that are suggested by one of the largest influencer marketing agencies – www.confluencr.com, is they should be turning to influencer marketing campaigns.,

Influencer Marketing Campaign

It means to grasp the reach of an influencer who has built a vast following and strong brand reputation in a particular niche to support your brand, co-create the content and get approval or support from the public for your product. 

Such influencers intend to increase brand awareness and increase sales.

For getting greater brand exposure and driving engagements, competitions, giveaways, and contests are a few of the excellent ways. 

Depending on your product’s price, you can find ways to make room in your budget for giving away a handful of your products each month, to the people who win the competition or directly to influencers.

Influencers, who make unboxing videos through their YouTube channel or Instagram stories and live video can help shine a light on your product by getting it in front of their audience at a minimum cost to your product. 

When there is competition for your product, an easy way to gain even more engagement is to include engagement instructions. This could be something like,

  • Tagging friends
  • Following the product page
  • Liking posts
  • Sharing content
  • Signing up for a newsletter
  • Creating original content 

Be extremely sure to make completely transparent rules so that participants won’t be prevented from entering the contest

Ensure that there is no dissatisfaction among the audience when the announcement of winners is done. 

Building Influencer Strategy

Goal orientation is the only thing that matters while building an influencer strategy.

To do this, you have to be determined for your goals along with making conscious efforts to understand the influencer landscape (product reaching the consumers with voices of influencers)

Document all your goals and principle performance indicators 

It so happens that when the brand invests in influencer marketing, it feels like a gamble

The sad truth being, it is a gamble for a lot of products

That might be because they aren’t investing in essential resources to properly test the viability of that channel

This also could be because they don’t take time to set crystal clear goals and determine proper scales to measure what fraction of goals are being achieved.

Author Bio: Shweta Singh

I am an aspiring Lawyer and a Content Writer. 

I believe that every business has a story and I thrive

 to tell that story to the world through my writing. 

I have been writing for influencer marketing for a long time for www.confluencr.com and have grown exponentially with the industry. 

With Confluencr, I have learned that quality content + targeted marketing can do wonders not only for businesses but for any individual.