Defining your niche

“Be a big fish in a small pond”

If we were to let a drop of ink fall into the ocean, we know that, that drop of ink would never change the color or be the reason for any serious changes of color in the ocean. Mainly because it is a large body of water.

However, if we were to let a drop of ink fall into a glass of water, all the water in the glass would turn a different color. Because it is a small body of water.

Therefore, if our businesses can treat markets the same way as the example provided above, we would be more likely to succeed in business endeavors. When starting out, we must only target a small proportion of people, which in other words is called a niche market. A niche market is a segment of a larger market with more specific features, market needs, price range and people. When operating in a niche market a business must know the markets specific demographics to target as well.

Using Databases and Analytics

In order to learn more about our target market it is necessary that small businesses keep track of their customers.

Using a database would be an ideal way of keeping track of the all the data you receive from your analytics.

Responses should be captured

When speaking to a customer, we should be able to identify what type of personality he/she has and be able to learn about their likes and dislikes in order to provide more quality products and services.

We must use other ways of collecting data in order to precisely categorize our customers to market our products better in order to serve them better by selling quality and relevant products.

Collecting Data

There are many ways to obtain data about customers to be more productive in terms of marketing and generating sales. They are as follows:

• Giving out offers and making sure customers see exactly what’s on Offer.
• Design attractive posts and making sure the message doesn’t just get out there, but making sure the customer gets on board to purchase the product.
• Asking customers to sign up for your newsletter and giving them a reward, just so that you can obtain their email addresses to use email marketing and send them relevant emails.
• Using tools such as google forms and sending out customer surveys where we could learn more about their:

1. Motivations
2. Frustrations
3. Anxieties
4. Trends affecting them
5. What their day is like
6. Dominant emotions

• Sharing questionnaires on social media that will provide people with a reward after it is filled.
• Research - Research trends and keep up to date with anything that is new to the market or the people and try and adapt to those trends.
• Join or create groups on Whatsapp, Facebook and Instagram to gain more exposure on the customer base and be accessible to customers from around the country.
• Giving offers as rewards to customers in exchange for them filling out data about themselves.

Conclusion

The Benefit of creating a niche is that you can still have a wide list of products or services across a wide customer base but at the same time you’ll be able to focus on each individual to solve each of their problems. Becoming a specialist in each niche will define your company as a specialist and a problem solver within that target group.