Some marketers believe that being in a niche industry puts a business at a disadvantage, but the opposite can and should be true. You just have to take the right view. If you use the right strategies, your smaller market will become a loyal customer base!
The first thing you’ll need to do is get to know your target market inside and out. Running a business with a limited or niche appeal can actually make it harder to nail down who your ideal customer is because, as your market gets smaller, you have to know more about who’s buying. In addition to knowing this information, you also have to know exactly how your product or service will fill a need that is not currently met by a competitor in your industry. Why is your business special? What are you doing to solve your customers’ problems? This is also why it’s so vital to keep tabs on your competitors. Knowing what they’re up to can help you keep up to date. Don’t be fooled into thinking having a niche market will make your business an automatic success – in many ways, it’s actually much harder!
Read the full article here: Niche Marketing: 7 Ways to Get It Right