What is a Niche?
According to Webster’s Dictionary, a niche is a specialized segment of the market for a specific kind of product or service. To simplify this definition, I like to think of a niche as a focused brand providing solutions to a target audience to generate sales within that target audience. In today’s saturated market with countless products and services available at our fingertips, the key to success is choosing an area with high growth potential and identifying an underserved niche within that space. In fact, choosing your niche can be more important than the product or service you are offering.
Defining Your Niche
I personally feel it’s essential to define your niche. To do so, examine what areas of knowledge or expertise you want to base your content on, and consider how that fits with what you enjoy doing. For example, if you have a passion for nutrition and are interested in helping people achieve optimum health, then starting an e-commerce site selling high-quality nutritional supplements may be right up your alley. Or, maybe you like to share exciting vacation spots around the world with others – in which case, starting a travel website would make sense. Starting any business without first defining your niche will cost you time, money and effort; it’s well worth spending some time thinking about where your interests lie. Remember, just because you focus on a target audience does not mean that will be your only audience. Try using the niche formula …
(Job title) for (Key identifier of target audience)
- Insurance Agent for Small Business.
- Groomer for Small Dogs
- Bookkeeper for Construction Companies
- Restaurant for Classic Breakfast
- Realtor for First Time Home Buyers
Tips to Help Find Your Niche
If you’re having trouble figuring out what niche to choose, ask yourself: If I could solve one problem for people, what would it be? What’s something people are seeking but can’t find elsewhere? Are there any products or services I struggle with that others might too—and if so, how can I fix them or provide an alternative solution? Asking these questions will get your brain gears turning and help clarify your true passion. The more specific you can get here and in your answers to other questions on our list, the better your chances of success. Once you have an idea for a business focused on solving a particular need within a group of potential customers (your target audience), the next step is learning how to master your messaging. Stay tuned for more!
Have an idea? Let’s Chat! – www.RuralBrand.guru