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Focus on the niche or the people?

Discussion in 'Starting Your Business' started by BrianWiz, Aug 29, 2017.

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  1. BrianWiz

    BrianWiz Member

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    I read a few articles over the last year that say that it is important to focus on your niche. Where your business falls under and who in said niche would be interested in what you have to offer. Other articles actually said the opposite and said to focus mostly on making the consumer feel important and drawing more people in to what you want to sell.

    I am a bit confused by this. I always thought you do both.
     
  2. djbaxter

    djbaxter Administrator Moderator Member

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    They are not different.

    To focus on your niche really means to focus on who is in that niche and who is interested in that niche. Those are your potential consumers and/or networking opportunities.
     
  3. pistachio

    pistachio Member

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    As mentioned, your "niche" is what you sell and who you are marketing it to. I am not sure why some people consider a "niche" to not include the consumer. Makes not sense. You want to focus on the people you know will make use of what you have to offer. I worked in business (not as an owner) for over 15 years.
     
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  4. Colin Forrest

    Colin Forrest Member

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    From a marketing perspective, it does not make sense to target everyone, if that is what is meant by 'the people' - you have a product or service that fits a purpose, therefore it makes sense to fit the purpose to those who are after it - that is your niche.
    If on the other hand you are offering something that really is for everyone, then 'niche' is the wrong word for you and your strategy for attracting customers needs to be much more convoluted. By the sounds of it, you probably have something more specific though and as such you want to know your potential customer market and focus on it.
     
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  5. Gin

    Gin Member

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    One just has to change their perspective. Every 'niche' can be found in a 'specific industry' and there will be 'sub-niches', i.e., pet food - dog accessories, healthcare, training, etc. For each industry there is a 'specific market' to target. Whichever niche YOU choose will include reaching that particular market of consumers.
     
  6. Lauren Brundisteg

    Lauren Brundisteg Member

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    I personally think niche is everything. If you find a niche that has demand, but lack of supply, than go for it. Niche will not be open forever, someone else will find it and do it instead of you.
     
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  7. HouGsp

    HouGsp Member

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    You become more useful to the people if you focus on your niche. Why? Because you become experienced, you know what your doing, and you become good at it. The people in the niche will come to you for knowledge and experience. A customer will get quality work from you and quality service making them feel important and satisfied!
     
  8. Brittney

    Brittney Member

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    I prefer to think of the specified target market as my niche.
     
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  9. Jacob Haney

    Jacob Haney Member

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    Yeah, I agree for what they said. Focusing on your niche - business will make you have a better position to market your services effectively. You’ll have a clearer idea about what you do differently than others in your field, what your expertise is within your field, and who values your services which are your customers.
     
  10. Julia Sta Romana

    Julia Sta Romana Member

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    Your niche and your market are two sides of the same coin. Focusing on one doesn't necessarily mean you're ignoring the other. In fact, you'll need to consider both if you want to do well in business. You can start with either one depending on what type of business you're going into

    Here's a good way of looking at this. Let's say that you're selling minivans, that's your niche in the car market. When you have identified your niche, you then look at the market to see who would be buying these cars. That's when you build a market persona, parents, those living in the suburbs, etc. In this case, by focusing on your niche you've identified your market.

    You can also do it the other way around. Let's say you have a network of acquaintances that you can market too. They're all working men in their 50s. You look at your market, at their interests, to identify a niche that you can build your business around. Do they like sports? DIY?

    You definitely need to do both to stay in business. Make sure that your place in your niche market is protected by providing good value. Protect your market by taking care of your customers and listening to them. Use their feedback to improve your products and services. Continuously improve your business to keep your customers happy.
     
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