Hey there everyone, niches are the focus today and how to narrow your niche down.
What Is A Niche ?
A niche is an area that is so focused that your buyer can instantly say, “Thats me”.
If you think about it, if you ask 100 people What do you do? You would get 100 different answers. You would have got 100 different answers if you asked 100 different people.
The best way to narrow your niche is to ask your best customers what they do.
So what if your customers are not 100% right? No problem! As long as what your customers say is true, you could easily narrow down your niche by asking your best clients or even your partners, employees or vendors what they do.
Here is another great way to narrow down a niche. You could look in your business cards or buyers list and see who your biggest customers are. If you don’t have a business card, just get a small notecard and put in your business cards. Go and look in your analytics and see where your biggest referrals come from.
Look at the demographics of your customers and see who your best customers are. Ask them what they do. If they don’t exactly know, suggest someone they know who may be able to help you.
Another great way to narrow down your niche is to look at your nearest competitor’s website and see what they do.
If you’re not sure what your competitor does, ask them. The more you ask, the more you will find out. If they don’t know either, ask them who else in the industry does what they do and ask them again.
In fact even asking a random question in your business environment to see who knows who in the industry will give you some great information.
So how do you go about finding business people?
There are 2 methods you can use.
1. Start your own business and hire a market research company (Ipsos and Bauman are 2 great examples), who will help you to find all the potential customers for your products and services. If you don’t have your own business, you can always work for someone else and ask them.
2. Post a notice board or put up a notice in one of your local shops or homes and say you are looking for someone to help you out with your advertising.
The market research company will help you to put together a questionnaire in which you will give your clientele some information about you and your business. Some of the questions you might ask are: Who are your main competitors? What is their market share? What is its profit margin? What is its marketing strategy? What is its customer experience? What is its distribution channel (how do customers access your products or services)?
After the market research company has completed the questionnaire you will review the answers and after you have compiled the answers you can go on to write the copy for your advertisement. The copy for your advertisements will also be written to complement the answers from the market research questionnaire that the market research company has provided you with. If you have followed the instructions from the market research company with the questionnaire they will be able to guide you with suggestions and recommendations.
The market research company is a professional company that will complete your research and write your copy for you. They will also take care of formulating the strategy on how you will go about reaching your target audience. You should not expect them to do everything for you, as they work as a specialist in providing a wide range of services to businesses. If you want them to do something, say create an offer for you that is more targeted to the audience you have identified, then you can consult with them on how to do that.
The biggest advantage of working with a market research company is the experience they will give you. When you start your own business or work for someone else, you will want to gain experience and knowledge so that you do not make a serious mistake that can cost you a lot of money, time and goodwill.
What Is A Marketing Strategy?
In the end, a marketing strategy is a list of strategies and tips that are used by companies to promote their products. The first item on the list should be informed by the knowledge that the client has when they sit down to do their research. If they think that they are buying a new car then the first item on the list should be informed by how the car is designed and manufactured, what the specifications of the car are, how the parts of the car are manufactured, what the safety features in the car are, the kind of colors that are used in the car, and the prices.
If the client thinks that they are buying a washing machine then perhaps you should tell them that the washing machine is designed to be quiet, durable and have easy installation. The washing machine has been specifically designed to be easy to maintain and it should be easy to remove the parts and store those parts so that it can be applied when needed.
If the client thinks that they are buying a new carpet then perhaps you can tell them that the carpet is designed to be soft and it has anti-rust features so that it will never need repairing. The carpet has anti-scratch features so that it will never need replacing. And the best part is that the carpet is designed to be durable, resistant to wear and tear and easily installed.
You do not need to explain that the car is very good or that the carpet is soft, durable, silent, easy to remove, easy to install. If the client thinks that they need a car then you can tell them that the car does not break down unless it is not suited for its environment. If the client thinks that they need a car they can go straight to a car rental shop or a company that provides cars for hire.
The most important factor is that they come to you requesting the information which you can then give them in a way that not only informs them how the product is but also satisfies that need and then you never miss an opportunity to remind them that their investment was very profitable and worth it because your product is worth their money.
I hope you`ve enjoyed my brief insight into niches and marketing strategies. Of course, there are a lot more ways to go in-depth into both of these areas but I hope this has given you a bit of knowledge to take away with you.
Please feel free to drop any comments or questions below I will be happy to respond.
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