Business information written specifically for newspaper advertising departments

Niche Marketing

Targeted advertising boosts revenue
We break down Leader’s advice on how to successfully create a niche marketing campaign and what it may do for your ad department.

When it comes to newspaper advertising, you may think the goal is to reach as many readers as possible, and you wouldn’t be entirely wrong, either. Of course, you want to create an effective ad campaign that persuades readers to buy that particular product or service, and frankly, the more the merrier. However, there is an argument to be had for niche marketing. An ad campaign that focuses on a select group of people with a common bond may be, in the end, more effective than ads directed toward the masses.

Chris Leader, a real estate consultant, discussed the benefits of niche marketing in the real estate industry in an interview with InmanNext™. Below, we break down Leader’s advice on how to successfully create a niche marketing campaign and what it may do for your ad department.

Choose Your Demographic

Once you have decided you want your advertisement or ad campaign to hone in on one specific demographic, you must choose that group of people. A demographic could be a wide range of ties that bond certain people together, such as shared interests or a particular occupation.

Leader suggested some possible niches, “There’s a whole host of different niches. Not that one agent has to be pigeonholed to one specific niche… you could be looking at geographical locations, income, maybe it was a past career the agent was involved in… maybe they were a teacher, maybe they were in the medical industry, any one of those could be developed as a separate niche market on their own.”

Since Leader works in the real estate industry, he discussed industry-specific niches, such as condo, vacation or luxury homeowners. This mentality and approach can certainly be translated across the vertical spectrum. Your sales team must be able to sell a range of products and services, however knowing niches and how to market them are skills that will only increase their sales.

Research Your Demographic

“I think once we figure out how to use demographics effectively and can do our research, you’re going to find the marketing pieces you design need to speak to that particular niche,” Leader said. Therefore, research is crucial in order for a niche marketing campaign to succeed.

Make sure your sales staff is informed on the benefits of niche marketing. That way, when they approach Realtors®, or any advertiser, they will be able to tell them what niches have responded positively to targeted marketing campaigns. If your staff researches various niches, they will be able to relay to advertisers what that particular group likes, and wants and what advertising will invoke a reaction.

Leader also pressed upon the importance of a sales person or staff doing research on a particular niche so they can “become the go-to person in that market.” You may not have a large enough department to have an expert on each individual niche, but if your sales reps are familiar and informed on a range of niches and can provide that information to advertisers, they will demonstrate their knowledge on niches and their skill as a sales person.

Design a Campaign for the Demographic

Once you’ve chosen a demographic and done the research, you will be able to begin implementing your knowledge in the ad design process. Take what you know about the niche, their common bond or identity, and decide upon an ad that you think will incite a response or reactionary behavior.  Accept the fact that there are groups of people that will not respond to your ad, because they don’t belong to that niche. Exclusivity and an understanding of your chosen niche will actually be in your advantage.

Get Results

Leader said he strongly believes in the potential of niche marketing as a revenue builder. “Once you understand that and design your marketing pieces to speak really strongly to that particular niche, what you’ll find is the cost per marketing piece drops, because we’re advertising to a much smaller group, but the return per piece goes up significantly.”

As your sales reps conduct research and learn more about a certain niche, the more successful their interactions will be with members of that group. When a sales rep makes a sales call, it will be anything but a cold call; instead they will share a common bond and understanding with their potential customer. Leader says this makes all the difference, “They won’t do business with you until they like you and trust you.”