Every marketer, mentor, businessmen and entrepreneurs said to success, you must find your niche. But when you just started, finding your niche can be a little bit complicated. There are a ton of niches out there but people always say you have to pick something you are knowledgeable about or at least passionate about. Most successful entrepreneurs know, passionate itself is not enough.
Whether you open a business in a unique industry or a saturated market, it is important to differentiate yourself from the competition to win over your audience. To do this, entrepreneurs should find a specific business niche to target and modify their market strategy to accommodate that audience.
You may have a great service or product, and no one is giving your business attention that it deserves – you start going to workshops, seminars and online to look for information about how to do the whole “the next big thing” thing. But you may have noticed something. Despite all the awesome free or paid information out there, there’s one thing that, at the end of the day, no one can really give it to you.
If you’re still having troubles finding your niche, we at MECACA hope this article can help you.
How to set a niche marketing strategy?
Now that you know what a niche market is, how do you create a business niche for your company? We’ll share some of our past experiences with several clients from different industries and how we help them to find their niche.
- Select your target audience.
To identify your niche, you can begin by selecting the general market. From the general audience, you can start to narrow down, who really need your service and products. You can yourself, what is the real reason you started this business and how your brand can help others. If your answer is “I just want to make money’, then you need more studying.
Example: In a saturated fitness industry, our client focuses only on 2 things – fitness/ weight management and physical conditioning. They set a medium rate fee for their services and only aim for working professionals around the center that want to get rid of their body pain and lose weight. We help them to promote their credentials and success stories. Those with bad body posture, office knee and joint pain responded well to the marketing campaign.
Result: High lead generation and conversion. Of course, the trainers’ knowledge and experience are the key factor in closing the clients, we just help to reach out to those who need it!
- Define an unmet or underserved need. Analyze your target audience and identify gaps in the marketplace. Your products or services should soothe a pain point that your audience is currently experiencing. Choose a sector that also has potential growth.
Example: We have a client that sell apparels and their target audience is college students. In the sea of marketplace, fashion can be a tough industry to make money. The idea was, quality fabric with trendy designs without any label. Sure, you can find most of these apparels online but one thing that we help to make a difference is – utilize the owner’s creativity in the product pictures. Every apparel photo is shot in a way where it is paired with different clothing or accessories. It gives an idea to the audience, how to wear these clothes.
Result: Significant growth in sales numbers. We keep track of which clothes designs sell the most and create more product categories that the audience love!
- Research your customer base. Always research your target audience to understand their needs, goals, motivations, frustrations and expectations. This is something you should do at the start of your business, you should also perform regular maintenance checks to reassess your customer base and competition.
Example: A hair salon owner had a problem where he was having a hard time getting new customers. And the salons around the area are as good as his team of stylists too. One thing that makes them stand out is consultation. Yes, consultation with their clients on hairstyle and colors that really suit them. We started a campaign on hairstyling and consultation. The new customers had a new experience where they were guided on how to choose a hairstyle that suits their face shape, hair texture and more.
Result: It was a slow start but right afterwards, they have had a new set of customers. The ‘new clients’ from the campaign start to spread the words on how this salon gives superior advice and helps them to look better. Nothing sells better than the good words put by your customers!
- Market your business to your specific audience. Just as your product or service is niche, your marketing efforts should be focused as well. Targeted ads, blog posts and video ads are invaluable tools for getting your message out to people likely to be interested in your niche business idea.
Example: A small business selling vegan baked goods would be to appear on a Facebook page or forum that is dedicated to healthy eating. We help this client to connect with some of the local influencer health shows and have their products featured.
Result: The collaboration with suitable influencers created a huge exposure to them and their vegan baked goods sell like hotcakes!