Make Way For Niche Platforms
When it comes to social media platforms, which one comes to mind?
Most people lean toward the market giants: Facebook, Instagram, Snapchat, Pinterest, Twitter, and YouTube. Each of these provides critical features to bring their target audience daily. For instance, connect with friends and family, promote a brand or company, engage with consumers firsthand, and choose an array of content. What it doesn’t do is center on a specific product.
That’s where a niche platform comes in.
A niche platform allows users to participate in conversations tailored to their needs instead of filtering through unrelated content on a general feed, which is why the idea is appealing to most.
Unlike popular platforms, utilizing a niche social network gives a brand the advantage to focus on a community interested in the same topic. In truth, a small customer base has its benefit. Curating content for a target audience helps create a strong customer relationship. As a result, consumers will be loyal to the product or service as the engagement is more personalized. So it comes to no surprise when companies notice their marketing efforts are more effective and what their conversion rates could be on a niche platform. Simonnet (2019) states,
“While larger social media platforms have more traffic, niche platforms, when used effectively, can actually achieve a higher return on investment.”
Another reason to market content on a smaller platform is higher organic reach and less competition than its big counterparts. Businesses have the chance to sell without worrying about monitoring prices and keeping tabs on their competitors’ latest ideas (McCormick, 2016). Instead, their main priority is hitting all their customers’ needs and perfecting its marketing strategies. Thus, if a company can bring a substantial amount of loyal customers, then the concept of word-of-mouth will take care of the rest. People in a niche community are in constant communication with one another and are the ones who will get the word out about a product or service (McCormick, 2016).
So what’s another way a niche platform can improve the social strategy for a business?
Simply put, it can save them money.
It can be costly getting consumers’ attention to notice a brand on well-known platforms. Switching over to a niche platform gives a company the option to place ads. Often it provides excellent value for money. Vakhnenko (n.d.) mentions,
“A good way to get a source of income is to resort to specialized advertising or personalized offers to your customers.”
Another cost-effective benefit is audience segmentation. While other platforms have a broader audience to cater to, there is only one demographic to focus on to give its undivided attention on a niche platform (McCormick, 2016).
The next advantage of switching over is connecting with established brands in the same field and supplying them with exclusive contracts. The exposure will ultimately benefit both parties. Therefore, businesses will have a higher engagement rate and increase potential partners to sponsor them (Vakhnenko, (n.d.).
A great example of a niche platform is Twitch — a streaming platform and gaming portal. Considered to be the YouTube for gamers, the venue has more than 15 million users daily (Kröpfl, 2019). Heavy focus on e-sports and video games, the platform offers gamers the chance to stream live games themselves and the opportunity to earn money. The more followers players acquire, the faster they can move up in the program, Streamer to Affiliate to Partner (Influencer Marketing Hub, 2020).
So it’s no surprise with a popular platform such as Twitch, there are mega influencers on the social network. For example, Tyler Blevins, also known as Ninja, has over 4 million viewers and makes $500k in a month by live-streaming Fortnite. His popularity comes with perks, including giving the rapper, Drake, for a lesson on Fortnite back in 2018 (Media Kix, n.d.).
Overall, the benefits of niche platforms outweigh staying in a popular social network. Niche platforms are gaining rapid popularity, and the best way to stay on trend is to follow the masses.
Work Refernces
Influencer Marketing Hub. (2020, July 5). What is Twitch? : All You Need To Know About the Leading Live Streaming Platform. https://influencermarketinghub.com/what-is-twitch/
Kröpfl, C. K. (2019, August 29). 6 Social Media Niche Platforms With Potential. Swat.Io. https://swat.io/en/strategize/social-media-niche-platforms/
McCormick, K. M. (2016, July 22). 7 Benefits of Niche Marketing. ThriveHive. https://thrivehive.com/niche-marketing-small-business/
Media Kix. (n.d.). The Top 10 Most Followed Twitch Influencers To Know Now. Retrieved September 27, 2020, from https://mediakix.com/blog/top-twitch-influencers-live-streaming/
Simonnet, R. S. (2019, September 16). The Importance of Niche Social Media Channels. Envano. https://www.envano.com/2017/12/importance-of-niche-social-media-channels/
Vakhnenko, H. V. (n.d.). Why You Should Consider Creating a Niche Social Network | Agilie app development company blog. Agilie. Retrieved September 27, 2020, from https://agilie.com/en/blog/why-you-should-consider-creating-a-niche-social-network
Image References
Evans, B. E. (n.d.). Tyler Blevins headshot [Photograph]. Time. https://time.com/collection/100-most-influential-people-2019/5567713/ninja/
Get Community. (n.d.). what’s a niche platform? [Photograph]. Get Community. http://getcommunity.com/whats-a-niche-social-media-platform/
Mils, A. M. (n.d.). [Save money]. Unsplash. https://unsplash.com/photos/lCPhGxs7pww
Pixabay. (2014, March 23). [Social media platform]. Pixabay. https://pixabay.com/photos/twitter-facebook-together-292994/
Pixabay. (2020, September 27). [Network]. Pixabay. https://pixabay.com/illustrations/networks-personal-users-3017398/
Twitch. (2019, September 26). [Company’s logo]. Twitch. https://blog.twitch.tv/en/2019/09/26/nice-to-meet-you-again-for-the-first-time/
