Posts Tagged ‘recipe for success’

Connecting with Your Niche

Friday, August 14th, 2009

A niche is nothing more than an area of special interest. One of the very first things you can do to improve your business is to move away from being a generalist that does anything for anybody. When you target your efforts to a specific specialty, you move away from a commodity product or service to one of uniqueness. This specialization is the mechanism for increasing your profits. Today I thought I would share some of the elements necessary to make a niche effort successful.

When selecting a niche it really helps that it be something you are personally interested in. The higher your interest, the easier it is for you to become excited and engaged. This is one of the keys. Enthusiasm sells. It’s contagious. I’ve seen mediocre product sold very successfully in specialty niches simply because the company or site was enthusiastic about what they were offering.

Your role here is to connect. The more authentic and genuine you are, the more believable
you’ll be. Printed apparel in a niche area should reflect the look and feel of that market. The automotive racing and motorcycle niches have their own typical look. Likewise for major sports events. Fun runs, triathalons, and marathons (half and full) have their own look as well. You don’t have to try and reinvent the wheel for your niche. Look at closely related areas and see if you can identify a specific signature style.

Specialization usually means you know more about that area than the average supplier. The more you can incorporate the style of your market, the more you will sell. For instance, if you are selling to outdoor festivals, make it a standard practice to fold and bag all retail product. This keeps the inventory clean and protected and is a definite added value.

Talk to many different people in your area. These can be customers, other vendors, or participants and spectators. Find out from them what’s important, what they’re looking for. Ask them what’s missing or what would make for a better experience. You may be surprised at the answers. Be on the lookout for opportunities for you to partner with others selling into the niche. You can often piggyback onto their efforts to increase your credibility and reach.

Success in niche marketing comes down to three things: Market knowledge, passion or enthusiasm, and connection to the market. When you combine these three elements, you have a recipe for success and profit.

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