Niche Market

Define your niche, your tribe. People belonging to the tribe will work hard to buy your product, or at least will be strongly attracted because it is designed for them

You cannot provide services that suit everyone. One of the main problems for people who are just starting a business is seeing too many people as their potential customers.

This makes the business too generic, which makes it too complicated. Your product or service will inevitably be too focused, because you must follow the lowest common denominator.

Create perfect products for niche markets. What is a niche? As Wikipedia puts it, it is "a subset of the market that a particular product focuses on."

It may seem counterintuitive, but in fact you want more people to buy your products. Why pay attention to a part of the market?

The answer is that you cannot attract the general public through generalist products, but please everyone. Instead, make a perfect product for a part of the audience and make them 100% satisfied.

For example, this article is aimed at those who:

  • Upcoming business
  • Want to do it alone
  • Hope to have an online business
  • Want to use the internet to sell their products
  • Cherish the greatest freedom and flexibility, not just profit

ThisexcludeNo matter who:

  • Don't want to do business
  • Want to do an offline business
  • Want to have one or more business partners
  • Already started business
  • Want to make a lot of money at the expense of time and health
  • no computer
  • Don't like working on the internet

After filtering my audience, it is true that a large part of the population is not interested in it. Instead, I want to writeThe most suitable position for you, Because you meet the requirements of my target market segment.

Define your niche, your tribe. People belonging to the tribe will work hard to buy your product, or at least will be strongly attracted because it is tailor-made for them. First define the boundaries of the niche market, and then use the products or services people want to meet those who meet these requirements, which is the foundation.

Two examples:

  • If you are interested in selling goods on Amazon, or a podcast about general business, or a weekly podcast that interviews a person who has successfully sold on Amazon, would you be more interested?
  • If you are looking for diving suits, you will go to a sports shop that sells "all-inclusive" items, or you will go to a water sports shop, which may take a longer drive, but has an experienced and enthusiastic owner Can they advise you better than a clerk in a regular sporting goods store who has never been involved in water sports? Maybe you will find a bargain price in a large sporting goods store, but will this be a high-quality and long-lasting purchase?

These two examples are enough to define a concept: focus is always better. By focusing on yourself, you are very suitable for a small group of people, not for the medium-sized people. Marketing to these people will be simpler, because you may find that everyone is participating in the same Facebook or forum group, and the competition will be very small.

You may choose a niche market that is too small, but it is better to make an over-specialized mistake, not the other way around.

The magic of niche markets is that professional niche markets are too small for too big competitors, and they will ignore the market share you want to focus on.

Here comes your uniqueness: you (and only you) can bring the key factors to this niche market.


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