Having a niche in your business means being closer to real profit and success!
Is your business really for everyone?
When you are asked who is your ideal customer, if you are a small scale or a medium scale business, one of mostly received answers may be everyone. Is your business really for everyone? Or is it possible to find a niche in which you will operate more accurately and with better results? But let’s start from the beginning!
What is a niche?
By definition, a niche market is a small, focused dedicated community that presents the main target audience for your business. This group is there with a specific set of needs, and you are there to meet and satisfy their needs with your product or service. When you find and know your niche you can be better from your competition, to gain a greater reputation in that field of business, and to be an expert in that field of business. All of these factors, in the long run, save you money and gives you the chance to gain recognition as a truly unique brand. If the term niche still isn’t totally clear to you, our business is a great example to understand your needs and niche. We are a full-service marketing agency and our clients come from a variety of fields, but we found our niche in Eco-friendly projects for which we are working for many years now. So, if your next question is how to find your niche and what is the best way to use it to serve your business? We will give 3 easy steps with practical questions and approaches that you can use to figure out.
1. Find your uniqueness
Let’s assume you are working in many different fields like we do, but certainly, you have a topic you are not only good at, but the best. This is the thing you love to work on, at the same time you are enjoying doing it and also you always meet the expectations of a client. If these are your strengths then you should focus your business on doing it. You can evaluate uniqueness by answering these questions:· What is the specific field you are good at? · Which problem in that field you can solve better than others?· Is that the field in which you have a personal interest or you are just enjoying doing it? · What about your team and the capacities you together share as a team?
2. Love your competitors.
When you find your niche, that doesn’t mean that you are the only one in it. There is a high possibility that someone is already doing business in that field. This may be great news. How, you may ask? Because someone already did at least something in that field and by doing good research you may form a clear idea of how to do things better, different or same. Ask these questions when you investigate your competitors:· Who are my competitors? · What are the good business ideas I can learn from them? · In which area I can be better and give greater value to a client’s?
3. Meet your customers
If you can, it is a good idea to meet your customers in person, or to communicate with them through the web. In that way, you can realize what your target audience really need, what are their needs and desires. In this way, you can come to a conclusion about their behavior as buyers and at one point create your buying persona. Furthermore should also answer the following questions and you will gain a better idea of how your business can provide value to your niche market:· What are the problems your targeting market has? How you can meet their needs? · What motivates them to buy your product? · Who are they? What is their lifestyle, profession, culture, behavior, demographic and need? It is important to answer all these questions carefully, even a couple of times, to be patient and to test ideas before even starting your business. And if you really find and define your business, and afterward build good business and marketing plan, it has to be successful!