The importance of niching down your Brand or Service
What is a Business Niche?
A business niche is a specialized, focused sub-category or area of a broader market or topic that your business serves explicitly. Finding a niche differentiates your brand and business from your competition and allows you to rise above other brands in your space.
Niching down your brand or service is essential to gather followers who are invested in your brand. When your services or brand extends too far, you’ll get more followers, however; they won’t be dedicated to you. They will be less interested in your content because it won’t have as strong an emotional pull to bring them in to purchase your product or service.
How Do I Find My Business Niche?
Look for a hole in the current marketplace that is not being served or is underserved online or locally where you live. Look around to see if there is a need for your niche that is appreciated by a specific group of customers who will be your target audience. Many markets become oversaturated with small businesses or startups eager to get in on the action. But for a business niche to stand out, it should be underserved or even neglected. Do your homework and research if your niche has value in the marketplace to see if your business niche has a strong probability of being profitable.
Is a Niche Business Profitable?
For your business to be profitable, your market and niche must be large enough that you can make money selling your products and services. You’ll need to start by identifying and accessing potential customers. In addition, you will want to find out if there are enough potential clients to purchase your offerings. The potential market for any business must have the size and mass to warrant the investment to enter that market.
Frustrated with social media and not sure how to post your brand online? Are you looking for a quality content writer to work with you as a team to write and publish your new book? Have you wanted to start a podcast to promote your company but aren’t sure where to start?
Find out how Write For You can work with your team to create consistent, creative content that tells your brand story with a complimentary consult: