If you have a very niche product, is it worth the investment?

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We've thoroughly covered the theoretical aspects of growth marketing, but what about in the real world? What tactics are companies using to implement it?
First of all, every business has its own identity and brand voice. Amazon will develop and grow in a completely different way than someone like a new vegan food chain or an electric scooter sharing platform. The key is to determine your target audience and refine your advertising campaigns to attract them by improving one, some, or all of the AAARRR metrics mentioned earlier.

So, depending on your business, I would recommend you understand your customers, identify your niche and the main weaknesses of your business. For example, you have a problem with many customers never coming back after trying your product and your competitors have a similar problem. The key is to work on retention and activation because these are the two areas that are giving you the most problems.

In terms of customer activation and retention, you can create bangladesh telegram database more attractive ads, offer incentives, improve and enhance the user interface, and explain to your target audience why it is cool and beneficial to become your member or customer.
Take a look at the information in the image below.


When it comes to advertising and growth marketing, unless your audience absolutely and overwhelmingly owns traditional media platforms, go all in on digital platforms. Over the next few years, digital ad spend is predicted to surpass traditional advertising by 68% to 32%.
We see that many people have their own strategies. For example, a new niche market may only need to spend $10,000 on advertising space to gain 1% market share. However, a company operating in an established, competitive market, such as Coca-Cola, may need to spend $1 million to achieve the same gain.

Is it worth it? It depends on the benefits you get. In the first example, if 1% of the total market share is worth $10,000 a year, it's not worth it at all and you have to find a way to optimize your ads for less to get the same results. In comparison, the size of the carbonated industry is about $225 billion . That means that by investing 100 million yen, Coke can get a reward worth $2.25 billion, which is probably one of the best investments a company can make. So, we can move to the idea that growth marketing investments should be made according to the market size and the projected benefits.