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Entries in niche market (2)

Tuesday
Jan242012

Find Your Niche

found on pinterest via marcia westRecently I wrote about the Power of Niche and made the argument that appealing to a smaller but clearly defined market is makes marketing your business much easier. But what if you don’t know who your niche market is?

Here are five steps to finding your own niche market.

Do what you do best

Start with the easiest thing first. What is it you do best? Pick one thing and specialize in it. You don’t need to pick one product, but you do need to focus. If you knit, you might choose to make scarves and cowls, not scarves, cowls, sweaters, hats, mittens, and booties. If you’re a seamstress and you love making pantsuits, do it! Make 5 different versions in different colors and fabrics, but rock the pantsuit.

It’s much easier to be known for making one kick-ass, stand out thing and offering a few variations than doing a little of everything.

Be who you already are

What is the talent or skill that you’ve chosen to build your business around? If you’re any good at what you do you’ve most likely developed a style, approach or perspective that is all your own. Maybe you’re a master crocheter who does amazing lace work, but you just can’t abide by the standard white and off-white of lace. Rock a bright, bold palette of purple, red, green and blue instead.

Doing something unexpected or with a little twist is the easiest way to be remembered. So follow your gut and let your freak flag fly.

Solve a problem

Every time you wear those flowy, but fitted pants you made do people always ask where you got them? Do you often hear your friends say if only I could find... Make it happen. Chances are more people are out there looking for that same solution and you know just how to solve it.

Design the perfect stylish, but useful messenger bag for the young career woman who rides a bike, I know I’m still looking for one.

Don’t try to be something you’re not

Or sell to someone you don’t understand. Just because feathers are all the rage right now doesn’t mean you need to use them. And even though everyone on Etsy seems to be selling to ironic, young hipsters, you don’t have to.

By sticking to what you know and like and a market you understand you can communicate in a more authentic way and give your customers what they really want.

Be aware of who’s already buying

Take note if you suddenly see a surge in purchases from the mid-west. It might mean you got coverage in a popular local blog, but it also might mean you’ve tapped into a group of young girls dreaming of a California lifestyle and your breezy beach inspired glass and shell necklaces make them feel one step closer.

Tap into what’s already working to define your niche even further and give them exactly what they love.

Who is this person?

Now that you’ve taken the time to really define and narrow your offering ask yourself who is the person that wants this and why. There’s your niche market. Do they love your brightly colored dollies because they have a thing for grandmas and all things turquoise? Or do they own one of each of your pantsuits because they are a lazy fashionista?

The more you know about why your customers buy your product the easier it will be to more people who need exactly what you’re selling.

How do you describe your niche market?

Tuesday
Nov222011

The Power of Niche

found on pinterestWe talk a lot about target market, being able to define who they are, how to connect with them, and where to find them. It’s one of the most important parts of creating a successful business. But I want to plead my case a little further to make sure you understand why.

First if you’ve never read “1,000 True Fans” by Kevin Kelly do so. You might also want to read a recent post I wrote for the SF Etsy blog talking about how his premise applies to a business model. These might give you a few things to think about over the holiday weekend.

Our Premise

We believe that a small, independent business can’t and shouldn’t appeal to the masses. Too much effort and not enough pay off. You most likely don’t have the manpower or the budget to do so and unless you are in a position to be an iconic brand it also tends to mean that your popularity fades quickly if you receive any at all.

The general market place is crowded; there are numerous choices for anything you choose to spend your money one. So to stand out in this overly crowded marketplace you need to be different and quirky.

Why Different Matters

You survive and flourish by finding the people who get what you do and why you do it. When you talk directly to your customer’s problems and needs they hear you loud and clear. When you give them exactly what they’re looking for and solve their specific pain, they support you in any way possible.

You don’t water down your message by appealing to as many people as possible. Instead you embrace that your ideal customer is a cutting edge fashionista, always looking to stand out, addicted to vintage, and with very little disposable income (that means every piece counts, not that she’s cheap).

When you know who your true fan is then you can confidently talk about the little details knowing they’ll “get it” and really care. You can geek out over the history of a piece of fabric you’re using, you can list the designers that inspire you without needing to explain who they are, and you’ll make sure to tell her how versatile the piece is because you know that’s her first thought.

If you can make your customers feel like you’re talking directly to them, like you made each piece with them in mind (in a way you did), they’ll not only keep coming back they’ll tell others like them exactly why you’re the greatest at what you do.

Now doesn’t that sound like a better way to go about your business?

What niche market have you discovered you appeal to?