Feb 03, 2022: Understanding your niche
A niche market is the subset of the market, which revolves around the products and customers. The market niche defines how a particular product is featured in the market, how better it satisfies the marketing needs, who the real customer are, and how to reach them.
Why do Niches, create Riches?
When you try to do everything for everyone, you end up doing nothing at all for anyone, so always going narrow allows you to go fast, and allows you to focus. Knowing your customer is one of the most important things and should always be considered.
Know the exact problem you are solving for your clients or customers, if you don’t know what problems you are solving and for whom, then there is a chance you may end up in loss. Be an expert on what your customers need, and how to reduce the gap which is in between your products and your customers.
When you thinking about your Niche, these are the few questions you should consider :
✔️ Who are your best customers?
✔️ What are their common characteristics?
✔️ What are their biggest fears, worries, and concerns?
✔️ What strengths exist with your customers to realize these opportunities?
✔️ What are the problems you solve?
✔️ What’s the result of your customer experience when working with you?
✔️ Who is your target market?