know your marketing niche

Know Your Business and Marketing Niche

It’s not uncommon for business owners to be asked about their niche. This may seem like people are asking you to put yourself in a box when you can do so many things. However, this is actually a very helpful question that increases your marketing impact.

What’s a Niche?

A niche is part of a market with specific needs. When you define your niche, you have defined your market. Rather than selling all things to all people, you become focused on what you specifically offer to help a very targeted customer.

The more specific your niche, the easier it is for people and search engines to understand what you do. You are able to use specific words and illustrations that are more memorable – and index-able – than the general, global words everyone else uses. You are focused, and that helps others understand exactly what you do.

Find Your Niche

To find your marketing niche, start by identifying the main category that you fit into. Then, work to narrow it down. Ideally, you want to find a niche that is not too general, but not so specific that you’re missing out on opportunities.

Next, consider your customers. What do they have in common? Think beyond general characteristics like age and income and go deeper. What are their common needs? Frustrations?

Consider these kinds of questions:

  • Are you (mainly) selling to consumers or to businesses?
  • Where is your audience located?
  • How old are the youngest and oldest people you think might be interested in your offering?
  • Is there a large majority of a single gender in your audience, or is it a mixture?
  • What kind of values do they have?
  • What kind of lifestyles?

By identifying the kind of audience you want to target, you can make a much bigger impact. This is partly because the more niche you go, the less competition you will face, so it’s already easier to stand out. But knowing your niche also means you can identify your audience’s needs more easily and understand how you help them.

Now focus on your products and services. What makes people buy? What makes your offerings unique? You can start simple: does your product look different from competing products, is it a different color or shape? Does it have additional features that other models don’t include? Is it a luxury product or a budget option?

Sum It Up – Your Niche

Now you’ve spent time defining your category, your audience, and your product, put it all together. Focus on the details that really stand out to you. Add these details to your category and you should start discovering your niche. Your goal is to find a niche that’s not too general, but not so specific that you miss out on opportunities.

You aren’t done. Your business will evolve, and your niche along with it. Be sure to check in again on all the steps of defining your niche to stay on top of changes and to maintain the right focus.