“Business Niche” is a term that gets thrown around a lot these days. You would have probably heard this term before, and you may even already have a defined niche without having even consciously thought about it.
If you are launching a business, it can be a good idea to spend a bit of time thinking about what your niche is going to be. Having a niche has an array of benefits. Let me talk you through them!
1 – It is easier to become an expert within a niche
Once you define your niche, you can become a true expert in that area. It can be difficult to become an expert in a whole industry, but it is much more achievable to become an expert within a niche.
You can spend time learning and training to become the best of the best in your area of expertise. The pay off from this is that you can charge premium fees. Customers are willing to pay more money for expert services.
2 – Your marketing can be more targeted
There are heaps of businesses out there. The Internet is a busy, noisy place, and it can be difficult to stand out. Defining your niche will make it possible to be more specific with your marketing, making it easier to connect with the right people.
Once you know who your ideal customer is, you can use the right language, design, and colours to appeal to your target audience. For example, if you were a photographer specialising in corporate headshots, you would need a more formal style and tone of voice. If your niche is family photography, you would use a totally different colour palette, language, and design elements to create the right vibe and appeal to your clientele.
3 – Increase conversions
Knowing your niche will help convert the people that come across your business. When the right customer finds you, they are more likely to use your service if they feel engaged and understood.
Think of this example: You are planning your dream beach wedding in The Coromandel and are looking for a photographer. You do a Google search and check out a handful of photographers in the area. Who are you more likely to contact? The one that specialises in beach weddings or a photographer that does a bit of everything? Who would you trust to deliver on your special day?
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