Businesses that sell mass market products like toilet paper, t-shirts, or even larger items like standard mattresses have a major advantage when it comes to making sales. People always need these items and the majority of consumers are just looking for products that fill a need without breaking the budget. For companies that make specialty goods, however, attracting new customers and fueling repeat purchases can be much more challenging.
How do you build appeal for specialty goods despite a limited market? From trend chasing to embracing AI and diversifying your product base, specialty brands need to hustle. Luckily there are more tools than ever to help you identify your target audience.
Find Your Industry Niche
Perhaps the most basic thing you can do as a specialty goods purveyor is connect with others in your industry by attending conferences, forums, and expos. These events are an ideal place to catch up on industry trends, network with buyers, and build a customer base.
What happens at these events, exactly? At the Global Pet Expo, an event for specialty pet goods and services providers, attendees can engage with over 1,000 exhibitors, browse products, and participate in educational sessions designed to help owners grow their businesses.
Most industries have equivalent events, from allergy-friendly foods to furnishings and educational products. No matter what your specialty, there’s an industry group that can help you maximize your potential.
Diversify Your Base
Many specialty goods businesses focus on a narrow base of items, from Etsy sellers who only make earrings and necklaces to international brands that only sell linens – limited offerings are just par for the course. Unfortunately, if your product offerings are too narrow, then you may have trouble attracting more customers. By expanding your product line to include more varieties of the same item – even if its just more colors, sizes, or flavors and not a new product altogether – you can double or even triple your business.
In the specialty goods industry, one of the most common reasons interested individuals don’t make a purchase is that the item is too high maintenance. Maybe it’s a dry clean only jacket or delicate china. Developing more versatile, everyday alternatives is one easy way to expand your product line. At Occitan Imports, for example, they offer French tablecloths in both Jacquard and printed cotton, as well as tablecloths coated with acrylic for easy cleaning. For someone concerned about spills or stains – which is a lot of buyers – that single added option can make a big difference.
Individualize With AI
AI is a favorite new technology with businesses in all sectors because of its ability to interact independently with customers. Virtual assistants answer messages, chat with customers, and collect key data that informs future interactions through machine learning. It’s a remarkable system and, especially for small companies, can allow you to do more with fewer staff members.
How does AI help specialty businesses, in particular? Consider Stonewall Kitchen, a Maine-based food company. At Stonewall Kitchen, they use AI to predict what items a given buyer will want, individualizing the online sales process. Two customers may see different products prioritized for the same search based on navigation data. It’s the kind of customer service that most associate with in-person boutique shopping, made possible by AI.
Better technology combined with a diversified product base and increased networking all serve specialty businesses that are typically locked into a narrow audience. Just because your product isn’t an everyday need doesn’t mean it isn’t highly desirable. You just need to get your name out there.