Friday, March 6, 2015
Finding Your Niche in a Crowded Industry
Thanks to the Internet, you're likely competing with far more businesses than ever before. Today's consumers often research companies online before giving them a try, so avoiding the Internet altogether is not an option. Even local businesses must often compete with one another online, too.
To survive in this intensely competitive atmosphere, you need to carve yourself a niche. With the right niche, you'll have something unique to offer your customers and will know exactly what type of clients you're looking to reach. Thanks to modern technology, you can now find each other.
So, how do you discover your niche?
Start by focusing on what makes your company unique. For some, that might mean discovering a product or service that appeals to a very specific group of people. For example, there might be a few different companies that make pet clothing, but you can set yourself apart by focusing on a particular type of clothing, such as winter gear or beach gear for pooches.
If yours is more of a service industry, focus on finding what makes your service different from your competition. There are countless companies and professionals who provide marketing services, for example, so branding yourself as a general marketer might not be that helpful. Instead, specialize in a particular type of business, gain particular certifications, or focus on a particular type of marketing.
Look for groups that have been under-served within a particular industry. You want to find potential customers who have been just waiting for someone like you to come in and help fulfill their need. When you reach these customers, you'll have the best chance of growing your business.
What do you do once you have your niche?
Once you've figured out what sets you apart from the crowd, make sure your potential customers see your value as well. Take the examples above. If you want to specialize in producing beach gear for dogs, you don't want to focus your advertising efforts on attracting the attention of people who just want dog clothes. You'll be up against countless competitors! Instead, focus your marketing efforts on those who are seeking your specific products. Target those going to beaches regularly, those researching information about taking pets on vacation, or those who live in seaside towns.
In the second example, incorporate your unique qualifications into your advertising materials and use them as keywords in your online marketing.
Once you've identified your niche and discovered how to market specifically to them, you need to focus your efforts on becoming the niche authority. Since this is your specialty, you'll have incredible insight to offer your customers. Take the time to develop valuable information and content that can help you stand out even further. This will help potential customers trust you.
In today's competitive marketplace, you don't have the luxury of being a general provider. You need to find something that sets you apart. Whether you provide services or products, finding a way to appeal to your customers on a unique level will provide you with the key to growing your business.