5 Keys to finding your niche market

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The difference between one case and the other is that the first has focused on the product and the second on its market niche.

It's that simple.

It is not about adapting your product to the customer, but rather creating it with them in mind, and that is why the first step in any business venture should be to choose a good market niche.

Focusing your strategy on niche markets will allow you to specialise and become at&t email database a benchmark in a sector, which makes it the best strategy for SMEs. Because, let's face it, matching the investment in advertising and marketing of large companies, whether we like it or not, is complicated.

Instead, focusing your product and your message on a very specific audience will give you a competitive advantage, since you will solve the problems of that group like no one else and, since it is such a small part of the market, it will be easier for you to study and understand them.

This is how lean startups do it , and this is how Jobs did it to create his empire.

And, hey, it seems like he didn't do too badly, don't you think?

Market niche: definition and characteristics
When we talk about niches we refer to a portion of the market that shares similar characteristics, needs and desires.

Although they are similar, they should not be confused with market segments. Niches are much more specific.

For example, one market segment could be marketing agencies, and a niche market could be agencies that offer digital strategies based on the inbound methodology for brands that want to do things differently.

Look, these are some of the characteristics that a good market niche should have:

Be specific and solve the problem of a specific audience, in our case brands that want to do things differently.
Fill a demand. Make sure your niche members are actively looking for solutions to their problems, because if they are, they will be more willing to pay for them when they find them. If you want to get an estimate of the potential demand for your niche, you can use tools like Google Trends or the Google Keyword Planner .
Not being over-exploited. If a niche has competition, it confirms that there is demand and, possibly, that the niche is profitable, but if it is too saturated, it will be difficult to position yourself.
It should not be based on passing fads. In that case we run the risk of not recovering the investment or of it becoming 'bread for today and hunger for tomorrow'.
The more you know your potential customers, the better you will be able to solve their problems, and so on and so forth.

Another thing you should know is that this microsegmentation allows you to be more precise in your messages and that greatly increases conversion.

Be careful with micro-niches, though, because if the niche you are targeting is too small, it may not be profitable (unless it is a high-ticket market).