To Niche or Not To Niche? What is a niche market?
A niche market is a focused set of people or businesses who are in the market to purchase a product or service you sell. This group of individuals has a specific set of needs that can be met by a targeted product or service that addresses those needs.
Niche marketing is a byproduct of specialization. When a company offers a specific set of products and services rather than selling a wide variety of offerings, they benefit by saving money, becoming more productive, and providing a comparative advantage that can be marketed to a niche set of customers.
Companies benefit from putting a stake in the ground and one way to see that benefit in action is through sales and marketing. Selling to a niche market is a way to stand out from competitors, and it helps your brand establish positive recognition within the market. Your business can become an authority in your industry for that niche audience — ultimately attracting more customers to your product or service.
Benefits of a Niche Market
Whether you’re starting a new business or scaling an existing one, niche marketing is an effective way to establish your brand’s positioning. By focusing on a small audience, your business will be able to stretch its resources further and bring in customers who are closely aligned with your offerings. Those are the people who need your product most and are therefore most likely to convert and remain loyal customers.
I definitely agree it is wiser to begin writing within a specific niche. Once you become established and get a feel for your style and writing, then explore expanding your niche.
Now that we have a better idea of what a niche market is and the benefits of having one, let's take a look at some of the niches I have started:
To your success
Bobby Wan
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