Modern Niche Marketing Techniques to Grow Your Bottom Line Posted on March 19, 2018 by Andrew Findley Written by Ari Levenbaum, the COO & CMO of the American Association of Motorcycle Lawyers, also known as the Law Tigers. If you could simultaneously enhance your customer relationships, overshadow your competitors, and increase your bottom line, would you? With niche marketing, you can achieve them all. The solution is in working smarter, not harder. By focusing your efforts on a targeted audience, your business can achieve a higher marketing ROI, capture a large market share, and become recognized as a specialist in the niche. Niche marketing is defined as channeling all marketing efforts towards one well-defined segment of the population. A niche is not necessarily a group that already exists, but one that is created. But how does one achieve this? The first step is discovering a need or service that is currently not being met. If you can determine that you have the knowledge and resources to satisfy those demands, you have just created your first niche. The next step is utilizing highly focused marketing techniques to reach and engage that audience. While generalized marketing attempts to gain a few customers from every market, niche marketing focuses on gaining a loyal customer base that is narrowly defined. Generalized marketing can be exhausting, expensive, and fruitless when you overextend your efforts to a large amount of people. Niche marketing allows you to focus your time and money where it is most effective. A successful market leader will always cater to their customers’ needs while maximizing their time and resources. Law Tigers – America’s Motorcycle Lawyers, is an organization and brand that has found tremendous success by utilizing niche marketing. The company’s founder saw the need for legal services devoted solely to the motorcycle riding community, and thus created a company to provide them. The firm has grown exponentially by employing grassroots, traditional, and digital marketing strategies to serve their defined audience. Grassroots marketing is the most personal of the three. This is a marketing technique in which efforts are focused towards a small group of people who then increase word of mouth referrals to a larger audience. This strategy is most effective when you target those who are heavily engaged within the industry in which your company is involved. By engaging with your audience in their comfort zone, personal face-to-face relationships are created that then become loyal advocates of your brand. Law Tigers effectively utilizes grassroots marketing by sponsoring, hosting, and attending various national, regional, and local motorcycle events. At these events, the Law Tigers marketing managers are out and about, conversing with motorcycle riders and building genuine relationships. If these riders are ever injured in an accident or know someone who is, the Law Tigers brand is top-of-mind. The marketing managers also spend a significant amount of time connecting with motorcycle dealerships, repair shops, clubs, schools, and towing companies. These relationships create trust and loyalty, as well as strong top-of-mind awareness among customers and prospects. As a result of these practices, the motorcycle industry insiders become a constant referral service. Traditional marketing is typically what comes to mind when advertising is mentioned. Common venues for traditional advertising includes billboards, newspaper, television, and radio. A targeted demographic, ratings, and other factors must be understood to obtain correct media placements. Establishing solid relationships between networks and vendors is also a key to maximizing potential exposure. By employing these traditional media strategies, Law Tigers effectively engages motorcycle enthusiasts through branded billboards, television, and radio commercials that are strategically placed to reach our target demographic. Digital marketing is utilizing technology to gain new business online and track results in real time. If a business is not marketing in the digital space, they are missing out on a significant amount of revenue. People are now using the internet more than ever before to work, research, find services, make purchases, and entertain themselves. With the presence of online reviews, and the ubiquitous nature of search engines, it is imperative that your firm has a strong presence online. Digital marketing includes everything from upper-funnel branding activities such as Facebook and Instagram, to lower-funnel direct response marketing such as highly targeted Google advertising. It is also important to nurture and educate prospective clients throughout the marketing funnel utilizing e-mail lists, retargeting, programmatic display, social media engagement, and pushing one-to-one content. Law Tigers effectively reaches their audience online through real-time marketing mix optimization, allocating spend to the most efficient channels and campaigns. This enables Law Tigers licensees to obtain signed cases at an optimal cost per lead, based on projected ROI. The social media consists of original branded content, influencer marketing, curated articles, photos, and videos that constantly increase user response and brand recognition. By utilizing Google A.I. machine learning and other proprietary data sources, the Law Tigers team are able to identify trends and gather data to create online campaigns targeted to those most likely to become a signed case. The key to any successful business is a solid strategy. By utilizing experience and effective marketing to target and service a niche, a business can be more successful without spending time on unnecessary tasks. As the saying goes, time is money. Wouldn’t you like more of both? *** Author Ari Levenbaum is the COO & CMO of the American Association of Motorcycle Lawyers, also known as, the Law Tigers. He can be reached at [email protected] and 888-271-7029. Ari has cultivated and maintained multi-level partnerships with industry representatives, and their constituents including motorcycle clubs, vendors, manufacturers and dealerships. He is responsible for developing a highly effective integrated marketing system, with the objective of brand awareness, and trust amongst a diverse community of motorcycle riders, and industry-related business owners. As a rider, Ari has a unique understanding of the motorcycle riding industry, and community, which proves tremendously beneficial in his role with the Law Tigers.
