How to Find Your Niche

How to Find Your Niche

One of the most important things to do when creating your business plan is knowing or having an idea of who the main consumers of your product, service, or content will be. Many new business owners may understand that they need a target market, yet many don't understand the difference between a Target Audience and a Niche.

Target Audience vs Niche

Target audience refers to the group of people that you are providing your product, service, or content. They are the group of people whose problems your product solves and who are most likely to make a purchase. A Niche is a target group within your identified audience. A good way of identifying your niche within your target market is to simply create an A/B testing plan wherein you split your audience and determine which groups respond better to your product offerings.

Defining your customer base a bit further can take you into creating an Ideal Customer Profile. An ideal customer profile is a hypothetical description of the type of individual or company that would gain the most value from your product or solution.

Here's an example:

  • Target audience; Men living in Manchester who are between ages 25 and 50, earning a minimum of 70k per month.
  • Niche; Single men in Manchester between ages 25 and 50, earning a minimum of 70k per month with no children and are vegetarians.
  • Ideal customer profile; Single men in Manchester between ages 25 and 50, earning a minimum of 70k per month with no children, are vegetarians and work from home.

Here's another strategy for you:

A key part of a brand is its authentic story. Another way to attract your niche is to find creative ways to tell your true story. This way, you can easily make a connection by capturing and keeping their interests. The emotional appeal in marketing is like a carpenter's hammer, it can either secure or break the reputation of your brand.

Ask yourself:

  • Whose attention do you want?
  • How do you want them to feel?
  • What do you want them to do?

This will specify the purpose of your marketing or advertising goals as well as it will serve as a guide to help you measure your success.

Look at it from Abraham Maslow's perspective. Maslow is the creator of the hierarchy of needs, a marketing theory that breaks down human needs and desires. According to Maslow, humans have physiological, social, esteem, and safety needs along with self-actualization. ​

Knowing the needs of your target and niche markets is the key to having influence. Though these needs may change or evolve at any time, you can always be one step ahead by simply building a community and keeping it active and engaging. Use Maslow's theory to build your brand story and better understand your niche.

By: Keefa Burke