By Craig Johns
WHAT CAN YOUR COnsumers NOT DO WITHOUT?
No company or organisation can be everything to everyone, no matter how big or small. Being able to narrow the focus of your target market, known as creating a ‘niche’, is key to success. By understanding what your consumers can’t do without and servicing that requirement, you will be a step ahead of the competition.
WHAT IS YOUR PLACE IN THE INDUSTRY?
Niches do not exist, but are created by identifying needs, wants and requirements that are limited in the marketplace, and can be satisfied by developing, delivering and implementing products, programs and services that satisfy them. Having a strong identity and a clear understanding of who you are to the consumers, is very important.
WHAT IS YOUR MARKET?
Knowing what market you providing for allows you to specifically tailor content and services that connect with your consumers. People like to have exclusivity and know they are receiving special service. They want to feel cared about and being able to specifically make a connection with them should be a priority. If you don’t know whom you want to do business with, you can’t make contact.
WHAT MAKES IT DIFFERENT?
Do you know why your market stands out from the rest and what are the behavioural characteristics of your consumers? Understanding what makes it different allows you to create a stronger brand and identity to ensure you recruit and retain your consumers effectively.
STEPS TO SUCCESS
- Create a list of who you want to attract and work with.
- Focus on what products, programs and services you are going to provide, based on your skill-sets, achievements, lessons learnt and style.
- Determine how your consumers see, understand and interact with their world.
- Synthesize your niche through ensuring it fits your long-term vision, it is desirable to your consumers, it is carefully planned, it’s one of a kind and has evolutionary elements
- Look at whether you niche meets the criteria of all aspects in step four and evaluate its viability.
- The one step that is most often forgotten or misunderstood is testing the niche with the market.
- Unleash the niche, into the market place.
THE PRESSURE TEST
Once you have effectively implemented your niche and established your identity it’s important to regularly check its relevance in the marketplace. By asking key questions, you will be able to do a temperature test on whether it’s still ‘hot property’ or not.
- Are your target consumers who you thought they were?
- Do you stand up to the pressure test with your consumers?
- Is it constantly evolving and moving ahead of the competition?
- Are you offering what the consumers really want?
- Do you have a connection, passion and focused energy with regards your niche?
Be one step ahead!