• 7 Advantages in Targeting a Niche Audience

    Date: 2019.10.31 | Category: business | Tags:

     

    When you start a business, you may think that you want to appeal to as large an audience as possible. You spend time thinking about products or services that everyone would want because it makes your perceived target audience much larger.

    But is this the best approach to business? Unless you’re Facebook or Amazon, the answer is probably not.

    Instead, a business is much better served by finding a niche audience and providing them with something new or better than what they already have available. The niche can be anything from middle-aged women who love doggie sweaters to small business owners who only deal in clocks.

    No matter the niche, you’ll find many advantages to targeting a niche audience for your business over trying to appeal to the masses.

    Let’s take a look at seven advantages you’ll find when you target a niche audience.

     

    1. They’re Responsive

     

    When a potential customer sees that you understand their niche and are there to serve only their niche, you’ll instantly gain their respect. When you gain their respect, they’ll want to give you a chance.

    Let’s say you’re launching a new magazine about the culture of Guatemala. The magazine will cover everything Guatemala all the time. Do you think people living in Guatemala, and people looking to travel there will be highly interested in subscribing? Of course, they will.

    But if you try to appeal to a larger population segment by launching a magazine about all things South America, there will probably be much less interest (and more competition). After all, for the individual who lives in Guatemala, how much are you really going to cover my culture?

    This is one small example, but you get the idea.

     

    2. A Niche is Easier to Target

     

    Having your website turn up on the first page of Google search results is absolutely critical to the success of your business. Joel House SEO will tell you the same thing.

    How difficult do you think it would be to get a general search term like “the best furniture in Australia” to land your website on page one of Google? It’s probably not going to happen.

    However, if your niche business model focused on animal skin rugs for vacation cabins, you have a good chance that a search term like “best animal skin rugs for cabins” will bring your website to the top of the list and bring you, ready-to-buy customers.

     

    3. You’ll Become an Expert

     

    By focusing on a specific niche, you’ll quickly become an expert in the field. This will allow you to blog on your niche subject with authority and gain the trust of potential buyers.

    Additionally, they’ll come directly to you when they have questions.

    Let’s say an individual has a small backyard koi pond and they don’t know how to properly winterize it so that the fish will survive a harsh winter. Is that person going to ask a WalMart customer service rep what needs to be done? Or are they going to call a company that deals only with backyard koi ponds?

     

    4. You Can Market More Effectively (and Inexpensively) on a Smaller Scale

     

    When marketing to a niche audience, there’s no need to run expensive or elaborate national marketing campaigns. You can use social media advertising or podcast sponsorships that only reach the specific audience you’re looking for.

    This saves money and increases conversions.

     

    5. It’s Easy to Turn Customers into Repeat Customers

     

    In a specialized niche market, you’ll have much less competition and higher customer loyalty.

    Once you earn a customer in your niche and treat them fairly, they’ll have every reason to come back to you because there aren’t a lot of other options to go to. And they trust you.

     

    6. Avoid Competing with the Big Boys\

     

    How much success do you think you’d find in the freelance marketplace segment by trying to go head-to-head with a site like freelancer.com or upwork.com? Good luck.

    However, you could find success by choosing one freelance niche and creating an entire marketplace focused only on that one niche.

     

    7. Easier to Brand Your Business

     

    In a niche market, due to lower competition, branding your business won’t be such a struggle. The chances of making your logo and brand name highly recognizable within the niche are very strong.

     

    Focus on Niche Audiences for Business Success

     

    Spend some time thinking about niches that genuinely interest you. Then start building a business plan that allows you to enter that niche as an authority.

    Success is sure to follow.