There are now more niche markets than ever. If you own a commerce or e-commerce brand, you’ve probably been told to appeal to a mass audience, right?
This advice no longer rings true. Instead, it’s more profitable to sell niche products and specialize in one specific audience.
But if you’re selling niche products, it’s important you
create a powerful brand and brand your products effectively. This separates
your product from competitors and your customers will develop brand loyalty
If you’re developing a new branding strategy for 2020, you’ll
want to include some core branding components.
Here are the 3 commandments for branding niche products in 2020.
Think Outside the Box
While classic branding methods such as digital marketing is key when increasing your sales, there are many ways to brand your products.
To stand out from the crowd, think outside the box when branding your products.
Try recreating your logo. While you won’t want to stray too
much off your original logo, improving your logo will give your business and
products a facelift.
Packaging means more to your brand than anything. But go
beyond attractive branding. Find a unique packaging method that attracts
Know Your Audience in 2020
We all know the classic branding and marketing advice: “know your audience.” But everyone changes and improves each year.
Your customers aren’t the same people they were five years ago. You may need to mature your branding.
First, look at demographics. Maybe when you started your
business, your customers were 20-somethings in college. Now, your customers are
older and likely settling into a career or starting a family.
Not sure how to tie in your audience with your branding?
Take a look at your highest selling products. See how they’re branded and if
you can make any changes toward the rest of your catalog.
It’s also important to look at trends. For example, let’s say you’re a fashion retailer. The rebozo is the new yoga pants. Tailor your branding around what’s trending to keep your brand on top.
See What Your Competitors Are Doing
Keep your friends, or customers, close. But keep your
enemies closer. In a niche market, you may not have many competitors. But if
your competitors are reigning over you, take a good look at their branding.
You shouldn’t copy their branding or completely change
yours. Implement some of their strategies or changes. For example, if they’re
re-branding their website, run a re-branding website strategy, too.
Improve Your Brand in 2020
Niche products are popular and profitable. But if you sell
niche products, it’s essential that you improve your brand. There are many ways
to brand your business and products in 2020.
Keep these tips in mind for your branding strategy. Pay attention to your competitors, think outside the box, and get to know your audience in 2020.
Work on improving your brand but don’t ever stray too far from your original branding.
Should you brand your business using guerilla marketing? Amazon used this tactic for their TV show “Man in the High Castle.” Click here to see if they were successful.