Unlike some business that targets so many markets, having a niche means your market is highly defined. Understanding the market requires you do a lot of feasibility studies. Not only does this require a lot of attention, but it also requires dedication. If you have fully done your homework and you understand the market, your next step is choosing a niche specifically for you and your target audience. While it may sound easy, getting it done may be another step on its own. Here are some guidelines that can help you get by:
Niche: Create Simple Services
A simple service is a single offering that focuses on the needs of a specific customer base. Being able to know your specialty is one step ahead. If you know what your specialty is, then great job! After this, the next step is finding people who are interested in this particular niche. For instance, if you offer a writing service, you may have quite a number of people requesting your services. Now, in the instance where the competition is so high for writers, one of the best things you can do for yourself is to narrow your qualification. Thus, rather than having WRITER on your profile, your niche can simply be Creative Writer or Health service writer.
The next step is being perfect from the niche you have created. It will be a big minus for you if your niche is perfect but you’re not so good at it. While you may get many customers, considering that you were the first to get to that particular niche, you will lose quite a lot of customers if you’re terrible at what you do.
Create Your Niche Marketplace
This simply means finding a marketplace that has been underserved and capitalizing on that marketplace. When identifying the niche marketplace you wish to enter, here are some questions you should be considering:
- Who is the audience in your marketplace?
- Why is the market underserved?
- What can you do to serve the better?
- Can your services solve their problem?
When you have successfully been able to answer these questions, you can compile these observations. With these data, you can join a group or create a social media group. Ensure that you use this information to your advantage.
Niche: Be Relevant, Specific, and Distinctive
Having a niche means you are always on your toes. You should not at any point in time rest on your oars. This typically means that you always have to state why your services are better than your competitors. One of the open secrets is figuring out what your competitors don’t have and using this to your advantage. For example, Mr. A and Mr. B sell Eggs. However, Mr. A sells his eggs in plastic nylons while Mr. B sells his eggs in cartons. If Mr. B finds out the weak points of Mr. A, he could easily get more customers on his side. How? Simply by stating that he has something way better than what Mr. A; the carton.