Niche marketing creates a sense of community among customers. Around 85% of customers say that they prefer brands that support community buildings, and 66% of consumers who feel a connection to a brand are willing to pay more. This type of brand community can easily increase customer retention rates by 25%. Such a sense of community increases customer loyalty and long-term relationships, and creating a community around a brand encourages customer loyalty and advocacy.
Also find out advantages as well as disadvantages for more information.