Actually knowing what niche, topic or area of expertise you are in may seem obvious, but defining your niche clearly will help with your marketing efforts.
A niche is what area of a market you occupy within your wider industry and the tighter you can make your niche the better your results will be. Rather than marketing to anyone and everyone an offering might appeal to, your niche hones in on a particular group of potential customers who are most likely to benefit from it.
If you are too broad in placing yourself in the market then you will encompass too wide an area. You will absorb too much competition and may struggle to define your audience and potential customers.
Instead of trying to market ‘dog food’ to every breed available, your niche may be gourmet dog food or dog food for working dogs. Other examples are cruelty-free lipstick, vegan footwear or online dating for the over 50s.
This can make you a big fish in a smaller pond rather than trying to struggle to be a small fish in a big pond.
Targeting a niche market is often more effective, and certainly easier, than trying to target a broader audience. Marketing ‘womenswear’ to every woman is going to be tricky, but if you’re selling chic maternity wear for modern mothers, it’s far more clear where to channel your marketing efforts (cough Instagram).
Within the online space, it is well known that blogs, YouTube channels and the like are much more successful when they focus on one particular topic or are defined within one particular area of expertise.
The blogger James Clear who created the fastest email database on the internet to 1,000,000 subscribers only writes about habits. Mark Manson has positioned himself as life advice which doesn’t suck, which, like James, has made him insanely successful by standing out from the generic ‘personal development’ crowd.
However, before you start deciding on your niche, you need to gain a thorough understanding of the larger market that surrounds it, and that means research, research, and more research. This can include talking to potential customers, attending conferences and events, or analysing social media data, insights and trends.
- Niche marketing resonates more powerfully with people who come across your business or land on your site/blog/workshop etc.
- It’s easier to come up with your business messaging, content and tone of voice.
- You can focus your marketing budget on specific channels and spaces.
- It’s a good way for a new business to enter the market and get traction from day one.
- You’re likely to see a higher return on investment, as you’re preaching to the choir, so to speak.
- You can position yourself or brand as an expert and authority within your niche area.
- Your business will (generally) have less competition.