How do you define your niche? I notice that when I ask my clients this in business consulting, web design, or whatever project I work on, they can’t seem to give a straightforward answer. It can be a difficult question to answer but defining your target niche correctly can make or break your business. Not convinced? Read these four reasons why you need a niche strategy for your business.
1. Fewer competitors fighting for market share
A good niche strategy will eliminate some of your competition. Let’s say you sell t-shirts for dogs. Go over to Etsy right now and search “Dog t-shirt” and look at how many results there are. Seems overwhelming to stand out right?
That’s where niche strategy helps eliminate your competition. You need to conduct good research to identify a market with opportunity, but when done correctly, it will change the whole landscape for your business. Go back to Etsy and now search Corgi T-shirts - a little less overwhelming to stand out within this niche.
2. Qualify your audience by who your targeting
It can be hard to qualify leads or whoever is visiting your website when you don’t know how to direct your content to who you want to sell your products to.
3. Creating a new niche
Being a trailblazer is a way to create a whole new opportunity that makes you the ultimate expert. If you are creative like me, creating something new is really a riveting experience - it can also be a highly profitable one as well. There is a higher risk with trying to create a new niche since you may not have data readily available on what works and what doesn’t work. But if you can be successful with this strategy, it is the ultimate way to take control of your whole market.
4. Strategic Partnerships -Top 100 Method
One of the first things I like to work on with clients when they sit down to create a marketing plan is a “Top 100 List”. This concept comes from Traffic Secrets by Russell Brunson. The idea is to list out all of the websites your ideal customer visits, the blogs they read, the Twitter accounts they follow, and follow all of those same websites/social media accounts etc. You can then use this list to reach out to some of the biggest influencers in your niche to create a strategic partnership by doing things such as guest blogging for each other, or hosting them on your podcast.
You can also send big influencers your product for free to talk about to their audience, which will boom traffic to your website. These strategic alliances are one of the most powerful ways to get new traffic and also build credibility for yourself as an expert in your niche. This is our way of building marketing funnels and we have found it to be highly effective.
Struggling to figure out your niche? Contact Tar Heel Dev Studio for help
This post may make it seem like finding your target niche is so easy, when in reality it isn’t as easy as it seems. I personally struggled with this for a long time and had to experience a lot of failures, but also successes before I really learned the importance of this concept.
Tar Heel Dev Studio would love to help you narrow down the niche for your business to help you create the ultimate marketing plan that will send massive traffic to your website and boost your sales. Just fill out our contact form at the bottom of our home page and we will get back to you asap. You can also contact us at (919)867-8368 and firstname.lastname@example.org if you prefer.
Thank you for reading and I hope we can help you make your business better with these simple ways to choose your niche market!