What is a Niche Strategy? And why is it a surefire way to more online growth? Because it’s part of my better business strategies series. You’ll learn why it’s important to pick your niche using strategy, not just randomly selecting something. And you’ll find ways to make picking your niche easier and faster.
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Table of Contents
What is a Niche Strategy?
A niche strategy is simple. It’s your niche, your target market or target audience, but based on strategy. That strategy requires market research.
So you’re looking at your ideal buyers. If your business is newer, your potential ideal buyers. And you’re researching their interests.
Where they hang out online. What they complain about online. This can be competitors failings. And area in the market that hasn’t been fixed for them. They can’t find a solution to something and still need help.
Or they found someone, but it didn’t work for them.
Your job is to find these people. Find where they need your help. Create a solution specific to them and their needs.
And then you market to them. That’s how you pick your niche. In simple terms.
Why is it important to have a Niche Strategy?
When you have a niche strategy, you have a purpose for why you picked that niche. You have a strategy for the offers that you created for that niche. And a strategy for how you’ll market yourself, your business, and your paid offers to them.
Basically, everything has a purpose. Everything has a reason for being done.
You aren’t just posting on Instagram because someone told you to. Because they said if you post 5 reels per day with a trending sound you’ll get more followers.
You’re posting on a specific online platform because you know your audience hangs out there.
You’re posting specific content because you know it’s interesting to the people that you want to buy from you. And you’re posting content that will get them primed to buy the offers you’ve already created.
Or maybe you’re still working on getting them created. But you’re working toward that end goal of getting them ready to buy a specific product.
Everything has a reason. Everything has a purpose. And everything is using strategy.
Niche strategies that go along with your market research that you performed already. It fits perfectly with your target market.
And it highlights your unique selling proposition. That thing that makes you different than everyone and everything else. The one reason why your target audience should buy from you. And not from your competitors.
Related Article: How to Create Your Own Unique Selling Proposition and Target Market Vs Target Audience: Key Differences.
Customer Experience Research Methods
So what are customer experience research methods? They’re simply market research.
But you’re really tuning into the customer experience to ensure that you’re creating loyal fans. The kind that give you testimonials for your business without you even asking them.
Basically, raving fans with ease. Because you want to get that social proof. The thing that tells others you’re good at what you do. That the offers you’ve created work. And they’ll work for them too.
It’s worth it to spend money on what you have to offer: digital products, online courses, memberships, etc.
By doing customer experience research, you’re making sure you’re creating specifically. With a strategy in mind.
And you’re basing it off of what your ideal buyers are wanting. What they’re asking for. And what they really need from you. Again, you’re doing it with purpose.
And by doing this type of market research, you’re making it that much easier to pick your niche. Using niche marketing strategies that just make sense.
Related Article: 4 Customer Research Methods
Niche Market Advantages and Disadvantages
What are the advantages and disadvantages of picking a niche market. The disadvantage that most people see is fewer people to sell to.
What if I limit myself by picking a niche? I’ve heard it so many times.
But here’s the thing. What if you don’t pick a niche and you’re targeting a broad market that you can’t reach?
Newer businesses and newer websites will have a hard time competing with larger businesses. They can market to a broad market because they have the brand recognition needed to do so. They have a higher domain authority online for their website. They’re overall reputation is higher.
But the advantages of picking a niche that narrows down your ideal buyers? Well, there are quite a few.
- You get to pick a niche that markets to a specific small group of customers. This means it’s easier to create your marketing messages. You’re talking to one group of people, so you don’t have to worry about catering to many.
- Your market research just got easier. You only need to find a very specific group online and follow them. See where they like to hang out online. Watch their actions. Complete your phrase profiling (found in the Market Research Guide) for a smaller group of people, your target audience.
- Creating your paid offers is easy! Simply create what your ideal buyers are asking for. You don’t need to worry about creating something that no one wants and is a waste of time. Your research showed you what to create. You’re creating with intention.
- IF what you’re doing isn’t working, give this a try. Like many online gurus say. If you speak to everyone, you’ll be speaking to no one. If you’ve been doing this for awhile without making money. Then why not try something different? Narrow down your audience. Target a smaller, select group that fits into your new niche strategy. It’ll give your business a new look and feel. It will be the change you need.
Niche Differentiation Strategy
So what can be your niche differentiation strategy? And how do you pick your niche? What steps should you take?
First, be sure to incorporate as much market research as you can. It’s the backbone of your entire content strategy. Which includes your SEO strategy.
Your niche strategy should include these areas:
- Analyze your niche. Pick out your target audience. That specific, small group of people that you’re going to target. Analyze their actions, needs, wants, complaints, likes, etc.
- Pick your online platform. And yes, that’s singular. I hate this omnipresence world that people have created. You don’t need to be on every platform. You aren’t McDonalds or Apple. Just pick one platform that your audience is on. That you like as a consumer and understand. And that you can easily and enjoyable create content for.
- Define your target audience. Really nail down who your ideal buyers are. Figure out what the buyer persona is that you’re creating your content, paid offers, and your business for. Who will you serve? How will you serve them best?
- Complete competitor research. Know your competition. Make sure you’re able to compete with them.
- Find Your USP. Your unique selling proposition. Know what makes you different. What sets you apart from your competitors. Why should your ideal buyers pick you over your competition? What makes you different? What makes you THE only option for them specifically?
- Start creating content that connects with your ideal buyers. Content that builds brand loyalty. Shows your authority on the subject. And primes your audience to buy. And be sure to have after-purchase content for customer satisfaction and loyalty.
Niche Navigator
If you’re still thinking “Man, I’m struggling to find my niche.” I just don’t know where to start. And I’m not sure who to look at for my market research. I just need something to show me what could be a profitable niche for me. And what will make sense for my business.
Then you need to check out the Niche Navigator.
It’s your guide to pick your niche for your small business. And make sure it works for your business, your target audience, your lifestyle that you have.
Do you have the time it takes to create content for this niche?
Do you understand this niche audience? Are you like them? Do you know what they need?
And can you help them? All of this is inside the Niche Navigator.
It’s a Niche Marketing Strategy PDF that’ll guide you on a path to picking the best niche strategy for your business.
It’s like a roadmap to follow. Making sure you’re following the right path to a profitable niche. And not taking any distracting routes along the way. The kind that’ll get your business off of it’s path.
It’s a frustration-free PDF for an easy, quick solution to creating your business strategy and goals. All backed by market research and strategy.
Get started the easy way. And set your online business up for surefire growth. Better business strategies save time, money, and so many headaches.
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