Today’s guests are more conscious of their unique wants and needs. They insist that they are not regarded as mere visitors. They want businesses to recognize their presence and understand their unique requirements, as well as to be treated with respect.
What Is A Niche Market?
A niche market—or demography of potential customers who would gain the most from the offers.
A niche market may be distinguished from others due to the following factors:
- Geographical location
- Culture, activity, or habits of people
- Demographic Needs in Behavior
Niche marketing is a type of advertising that focuses on a certain target audience.
Rather than marketing to everyone who could benefit from a product or service, this method concentrates just on one group. Niche marketing has the advantage of allowing companies to stand out, seem like a unique authority, and relate more profoundly with a certain group of buyers.
A business may utilize niche marketing to stand out, appear more valuable, realize its growth potential, and establish a stronger, longer-lasting relationship with its intended audience, rather than blending in with the many other companies that offer the same sort of product or service.
Examples of Niche Markets
Here are some examples of niche markets you can target or to give you inspiration.
Pet owners nowadays, more than ever, see their furry companions as indispensable components of their families and lives. Pet owners spent a total of US$72.56 billion on items and services to promote their dogs’ health and well-being in 2018, setting a new record for the sector.
As this niche market expands, more hotels are beginning to offer pet-friendly accommodations. Having pet food, water dishes, and outside play spaces are common examples of this. Some hotels even provide doggy room service, according to a recent story, since visitors are more inclined to dine in if their pets can have a meal alongside them.
Single-Parent Family Travel
The tourism industry enjoys emphasizing family vacations. We notice a lot of family packages aimed to parents who want to get away with their two children and mom and dad.
Single individuals on vacation with their children appear to be classified as “family travel.” True, the majority of American children are raised in two-parent households. In reality, 69 percent of all parents are not single.
However, it appears that the travel industry overlooks the 12 million single-parent family travel market in the United States and 320 million globally. The single-parent family travel niche market is untapped still.
The appeal of family travel has risen as a result of growing enthusiasm for it. Many extended families are utilizing vacations to reconcile, reconnect, and make memories with loved ones after months of separation, isolation, and distance during the epidemic.
Multi-generational travel, in general, is inclusive of all ages and encompasses three generations: grandparents, parents, and children. While accommodating persons of all ages and abilities might be difficult, as the population grows, more people are likely to travel this way. According to 31% of travelers, their next vacation is being planned in order to spend more quality time with extended relatives.
Many still want very dreamy and romantic dream weddings. Even willing to travel around the world to celebrate their special day at the perfect location. According to a recent Travel Leaders Group travel trends report, destination weddings and honeymoons are the second most popular category of niche markets.
There’s a lot to consider in destination weddings such as the actual venue of the wedding, transportation, food, and of course, the rooms for the couple and everyone who will attend.
How to Find Your Niche Market
Take stock of what you, as a resort, can offer to the niche markets. Could you open your rooms to pets? Will you be able to provide child-friendly activities? Do you have the space to dress up for a big romantic wedding? Check out the local are to see what they can offer as well.
Your niche market is your new target market. It doesn’t mean you have to completely focus on your niche market. You can still diversify your customers. But the key to success in catering to niche markets is to offer them value specialized for them.
Targeting Niche Market Through Social Media
Though word of mouth is still the best way to draw guests in, the power of social media shouldn’t be underestimated. You can now communicate to your target market in a more meaningful way. Be able to find them, or even, they find you through the various platforms of social media. Then, draw them in with offers, rewards, and promotions specialized for these customers.
The amazing thing with social media is the power of sales funnels. You can reach success by good management of your funnel to drive online bookings.
Give Value to Your Target Niche Markets
For example, some valuable amenities to family travel are nanny services, playrooms, and events for children. To drive pet-owners in becoming customers, offer rooms that are pet-friendly.
Still, if you can’t create activities for your niche, there are other options. Another strategy is to promote the local spots around your area. You can attract more guests if there are amazing local experiences you think your niche might enjoy.
There is so much to gain in delving into hospitality niches. Resorts can really market in new and innovative ways and gain a lot of loyalty with this marketing strategy.