How to Define a Niche

A niche or niche market is a segment within your target audience where you will spend the most time marketing your product or service. Why? Because this niche is going to help differentiate you from the competition. And it is going to save you money. Lets face the facts and realize that you are not the only person who is offering a product or service like yours. In fact, in most cases, there are probably 3 to 5 other businesses doing exactly what you are doing. If you are marketing online, there could be thousands. Your customers are being swarmed with marketing messages every day. They are confused by whom they should do business with, and choosing a niche will help you break through that confusion.

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A niche will help you position yourself within the target audience you have chosen and will allow you to compete more effectively for their business. Lets look at a real life example. In the fast-food industry, there are a couple of major players who are aiming at the "sandwich eater" target audience. The big two in my area are Subway, and Quiznos. These companies have chosen that audience to allow them to compete in the fast-food market without having to go up against companies like Taco Bell, McDonalds and Pizza Hut. Now in the Sandwich Eaters target audience, each of them has chosen a particular niche to target. Subways niche is people looking for low fat sandwiches. Quiznos niche are people who like hot toasted bread.

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Both of them are aiming at the same target audience but each of them has chosen a different niche to concentrate on. This allows each to compete effectively against the other. Subway owned the sandwich market for a very long time, but Quiznos found a way to get into the business without competing directly with the leader. Now, lets say you opened a new sandwich shop - Small Town Hero. It is not doing very well. Why? I cannot figure out why I would buy my sandwiches from you instead of from the other guys. You have chosen a target audience, sandwich eaters, but instead of marketing to a niche, you are marketing to everyone. Needless to say, your sandwich shop want stay open very long. Not choosing a niche and marketing specifically to it, will kill your ability to compete.

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Your niche is the specific area in your target audience where you will position yourself as the expert. Choosing a niche allows you to focus on a specific piece of the target audience and make it your own. And this is the best way to compete against your competition. Small businesses have a definite advantage in niche marketing. Small business can survive; in fact thrive, in niches too small for big business to take seriously. HP would never think of building computers aimed specifically at females who are microbiologists, but you could and be successful. That is, if there were enough female microbiologists who needed computers in your area!

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