Branding Series - Three Reasons Why you Should have a Niche Brand
Niche brand? You’ve heard the term often, but in this blog I will tell you three reasons why you should choose to start with a niche brand over anything else.
When it comes to creating a line, you might want to create everything and anything. Creativity should not have any boundaries. But there are a few reasons why creating a niche brand is the best option for a successful brand.
What is a niche brand? A niche brand is a brand that focuses on specific needs or ideals of a customer. It is specific and tangible leaving it targetable for marketing. The opposite would be a lifestyle or general brand. A lifestyle brand can start from a niche brand but it takes time to expand each section. The pitfall of a lifestyle brand is often people go right into establishing a general or lifestyle brand rather than taking the time to learn more about the customer first. By doing this, a brand could fall flat or fail. There are many reasons to choose a niche brand, however today I am going to review three compelling reasons why you should have a niche brand.
The number one reason to develop a niche brand is that it is fast and easy to establish a target market. Based on the previous blogs in the branding series establishing your target market will become extremely important to ensure brand success. By establishing a niche brand at first, rather than a lifestyle brand you are able to clue into your customer’s needs and understand why your items are or are not selling. Based on the feedback not only can you perfect your products but you can also be more clued into how to market your items to your customers. This can be done through polls, online reviews, or a deep analysis. If you simply went the lifestyle brand route from the start there might be a lack of feedback and direction for marketing. It is best to start small and expand when you know your customer more.
The next reason is, with a niche brand, you have a chance to create brand loyalty. While a niche brand may be lesser known one of the main benefits is feedback. With feedback from customers, you can create an experience that they will want to come back to or even tell their friends about. Word of mouth brand avocation is a powerful marketing tool for your brand. The reason being is that customers are more likely to purchase an item from your brand if they find that someone reliable, or someone close to them advocated the brand. Even big marketing and advertising campaigns can’t replicate this effect.
The final reason to create a niche brand is the ability to determine the brand’s pricing. If you know your customer’s needs and desires, and you’ve created a sense of brand loyalty. You can develop items and pricing that reflects that. Your brand could be based on a specific ideal like ocean conservation, well in turn you can charge a price that allows you to donate to a ocean conservation company as well as generate company profits and expand your company.
Creating a niche brand can be a lot of fun. You can start with something you are truly passionate and interested in, get feedback, create loyalty, and expand and grow your business. When the time comes, you can also transition into a lifestyle brand when you have more information as to what your customers want and desire or simply remain a niche and expand your audience for your products.
How do you pinpoint a niche to start a fashion line? At V.Mora we can help you analyze and strategize the niche right for you. For inquiries please contact: vmorainquiry@vmora.com
Do you have your niche brand established already? At V.Mora we can help you through the entire production process from designing, to sourcing and so on through our Production Development services. If you are in need of the following Development and Production services:
Sourcing
Technical sketches
Pattern Making
Prototype making
Sample Making
Fittings
Digitizing and Grading
Marker Making
Manufacturing
Please contact us at: vmorainquiry@vmora.com
