Why You Should Develop a Business Niche
Does your business have a niche? Although as a small business it might seem counter-intuitive to limit the scope of your clientele, it can actually be really helpful. Here's why developing a niche could benefit your business.
What Does It Mean to Develop a Business Niche?
Basically, developing a niche means focusing your business' target market on a particular group of clients or customers. While marketing to 'just anyone' might seem like a good idea, marketing to a 'just the right person' is usually much more effective. Focusing on a certain group of clients or customers helps to direct your marketing strategy and create focused business goals.
Give Your Ideal Client Exactly What They Want
Developing a niche can be a highly effective way to figure out how to provide your ideal client with exactly what they want. Focus your business on meeting the wants and needs of the clients/customers in your niche by asking some questions about your target market. Who is your ideal client? What kind of person are they? What are they looking for and what do they really need? How can your business help them towards their goals? Let these answers help build the structure, content, and look and feel of your business. If you get it right, you'll end up attracting exactly the right people to your business by offering exactly what they were looking for.
More Efficient & Effective Marketing
Developing a niche for your business will actually lead to more effective marketing, because your strategy and goals will be more focused and efficient. Where are your ideal customers spending their time? What would be most effective at catching their attention? Don't waste your time on a paper flyer for bulletin boards if your ideal clients are all about Instagram. Once you've developed a niche, you can find out where your ideal clients are spending time (and where they're not spending time) and then meet them where they're at.
Developing a business niche can be really helpful in focusing the scope of your business. Plus, you'll be able to create a strategy for much more efficient, targeted marketing.
Sources: How and Why to Develop a Niche