We’ve all heard the saying “you can’t please all the people all the time”. The mistake many business owners make is trying to buck this trend. Unless you’re a worldwide brand like Coke, Apple, or McDonald’s, you’re a little out of your league, and even these giants of industry have their competitors to contend with.
The answer then, especially for many small businesses, is to go the other way and seek out underserved niches of the market where they can compete through specialization. But what if you offer a diverse range of products or services? You may wonder how to find your niche market in this case.
The truth is that you don’t necessarily have to subscribe to a single niche for sales. In this day and age, you could simply advertise to a variety of niche markets depending on what you offer.
For example, you might run a shoe store. You probably carry several brands of shoes. This doesn’t have to stop you from advertising specific brands to specific audiences, or advertising locally, just for example. You can find ways to reach niche markets even if your business happens to be more universally pleasing – it’s just a way to bypass competition for more general marketing efforts.
Of course, you must first define your niche so that you can market your wares accordingly. Here are several strategies you should employ to find the perfect niche. [Read more…]