Defining your Niche Market

Ecommerce success is essentially defined by your niche market.  Knowing what separates you, your brand, and your product from your competition is the kickstarter to your growing business.  Whether you’re trying to grow your online business or you’re still rooting around for an idea that’s perfect, defining that niche market is essential for growing a customer base.

Why a niche market?

Defining your niche market not only gives you an edge on your competition, it also gives you added benefits to your growing business.  

A niche market is less competitive.  

When you have a smaller target market, you’re dealing with less competition for the same audience.  

Niche markets are also more affordable.

With a smaller audience being easier to target, you can get more bang for your buck on marketing campaigns.

Niche markets come with loyal customers.

Niche markets are fed by steadfast customers.  Your customers deeply believe in your products and business, therefore, trusting that you have their best interest at heart, compared to your competition.

Easy-to-target audience

With a niche business you get to know your customers far and wide.  This specific audience makes marketing campaigns very straightforward.

Secrets to success

Uncovering and creating a strategy for an undiscovered niche market is a recipe for success.  Developing a vision for your ideal customer that everyone wants to be a part of motivates your audience to take ownership of that identity.  Good niche marketing gets people excited and makes them feel like they’re participating in something greater than themselves.  Success isn’t just reaching your ideal customers, but transforming an audience that didn’t know that they were your ideal customers.  

Giving your audience, and potential audience, “permission” to like your product or business as opposed to your competition, gives them a sense of purpose.  Showcasing a contrast between your niche audience and another group emphasis the uniqueness that makes them special.

It’s more than a product...it's your story

It’s been studied and proven that a business with a story, or compelling narrative, is the best way to expose why your product or business is better than the rest.  Niche communities enjoy an emotional experience that make them feel engaged in the lifestyle the product portrays.

Starting a Niche Market Business

Know your ideal customer

If you’re struggling with what the best idea is for a niche market, take a step back and think about who you want your client to be.  Once you’ve settled in on who you want to sell to and how you want to sell it, what you sell should come naturally by looking into your own personal interests, skills, passions, and activities.  Often times, your niche market and ideal customer comes through solving problems you have for yourself.

Classifying your niche

Use what you’ve learned about your ideal customer to actually define your niche.  Your niche should be unique, identifiable, and scalable.  

Does your niche separate itself from a larger audience?
Can you describe your niche’s demographic, behavior, and interests?
Will you be able to expand your niche to a larger audience that fall just outside your niche?

Develop a product

While you’re defining your niche, you’ll discover some fantastic product ideas for your ideal customers.  Let your problems, questions, and interests guide you for inspiration.

Sell Uniquely

Your unique selling premise needs to be ingrained into your brand from the very beginning.  This needs to set your business apart from the rest - from marketing campaigns, to development, and everything in between.

Can you offer a unique product or service?
Why should customers buy your product?
Does this bring value to their lives?

Be Different

Casting a wide net can drain your resources quickly.  Acknowledge that being different than the pack is a good thing, even if that means that what you offer isn’t a good fit for everyone.  Recognize what you’re good at and put all of your effort into it.

Do you have a niche market product or service?  Are you interested in developing brand strategy or a new ecommerce site for your unique products?  Contact us today and let us help you be different!  {contact-form}