4 Steps to Market Your Niche Product With Ease

If the marketing plan for your niche product had wings, would it soar into the future, or would it make a u-turn for the past? Or, even worse, would it do a nose dive?

Whether you would like to believe it or not, developing and implementing a well-thought out and strategized marketing plan will help your business grow to new levels.

However, because the monument business is a niche business, or one that offers a narrow scope of products to a definable group of customers, developing an effective marketing plan requires special consideration.

Step 1.  Identify your Targeted Customer Base

Sure, you know who your customers are. But do you really know who they are? Now is the time to take a deeper look at your existing customer base and dare to identify your ideal customer base. Some key questions to ask yourself are:

• How old are my customers and what stage of life are they in?
• How familiar are my customers with technology?
• Where does my customers live and what do they do for work and pleasure?
• Which cemeteries do my customers frequent?
• Do my customers bury or cremate their loved ones?

As you identify your existing and ideal customer bases, it is wise to gain an understanding of your consumer’s needs. While it is easy to believe your customers simply need a headstone to mark a grave, it is more important to understand the emotional needs and desires that they have as well.

Why?

So you can easily show them how your team can fill those needs versus simply serving a purpose.

Step 2: Identify the Most Effective Media

Now that you know who your customers are, consider the media that your customer comes in contact with and be sure to avoid discounting methods that you have not used or considered before.

You may find it helpful to create a list of potential medias as you identify them, or contact a reputable advertising agency to help you with this step.

Step 3: Evaluate the Cost of Your Plan

So what is your marketing plan going to cost on an annual and monthly basis? Which medias are free versus the most expensive? Will the media with the largest price tag yield a larger return on your investment?  What is your current advertising budget and by what amount do you feel comfortable increasing it? Advertising costs can add up quickly, so it is important to consider each expense prior to following through.

Step 4: Implement and Monitor

Now that you have a plan in place, it is time for the fun part- watching it work! Sometimes it is difficult to know if your new sales are a direct product of your marketing plan, so be sure to monitor to use analysis tools to monitor your progress.

Propelling your monument business toward greater success in your marketplace is a truly exciting adventure! So follow these steps and enjoy the ride!

Article originally published in MBNews in 2012