As consumers are becoming more and more informed, niche markets have never been more important. What‘s a niche market? A niche market is a highly focused, specific market with a common desire. Here are 6 helpful things you can do to really capitalise on your niche:
1. Explicitly Define Your Target Market
The first step to marketing to your niche customers is figuring out who they are! It is important to be as specific as possible here. For example, don‘t just target women, target single moms who earn at least $80,000 a year.
Make sure you’re website and marketing material reflect your niche market, all text and images should be appealing to your market.
2. Clearly Define Your Product or Service
Your niche should come from your interests and expertise, so here is a little exercise to help you focus on what you‘re could be:
- Write down what you are an expert at and clarify how this relates to your niche audience.
- Think about where you are already getting results for clients and who you are already attracting.
- Specify what your product or service is in one sentence and why your target market would want to buy it.
- Think about who you enjoy working with and what specific solution you like providing.
3. Determine Your Customer‘s Perspective
Put yourself in your consumer‘s shoes to see what their needs and wants are. The very best way to do this is to talk to your customers in person, and try to understand where they are coming from.
Create a list of their top 5 desires and problems that your product will help them with, this will assist with writing your marketing material.
4. Match Consumer Wants/Needs with Your Unique Product
The end-goal here is to create a “simple service”, i.e. a service with a unique brand, narrow focus and a specific target base. A good niche product or service should end up being:
- Meticulously planned
- One-of-a-kind
- Adaptable to evolve in order to meet changes in consumer wants/needs
5. Test it Out
Once you have aligned your target market and product, test your audience and their perception of your product or service. Some great ways to test the marketing are free samples or free mini-seminars. This is not a step where you should be spending a lot of money. Keep this process simple so that you can afford to make any alterations necessary to fit your target market. Get feedback, learn and adjust your message to suit.
6. Get Out There and Do it!
This can be the scariest step for most people, but implement what you‘ve worked hard on! In the words of Anthony Robbins, “There is no such thing as failure. There is only feedback.”