3 Ways To Find The Right Business Niche

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Finding the right business niche is the first step to effectively defining your bold new brand. If you don’t understand how to position your business in the marketplace or know what you’re selling and why you are selling it, then you won’t be able to effectively market your business. It’s important to find your business niche so you can: 

• Differentiate yourself from your competitors; 
• Optimize your website for the right keywords; 
• Have a clear message on all marketing materials; 
• Develop new ideas or products that appeal to your target market. 

Here are 3 ways to make finding your business niche easier: 

1. Narrow Your Focus 

You’ve heard the saying “Go big or go home?” Not in this case. To stand out from the competition and attract more visitors to your website, you need to be very specific about what you offer. For example, eVision Media offers a variety of marketing services. However, we wouldn’t get very far if we only used the keyword “marketing services” on our website or put that term on our business cards. 

Instead, we promote a number of different services on our website, marketing materials and in the real world such as Marketing Consulting, Website Development and SEO. Get focused and you’ll find your business niche or niches. 

2. Define The Target Market 

You’ll hear this again and again in marketing advice: finding the right audience to target is crucial. Many business owners make the mistake of trying to be everything to everybody, or launch a website filled with content that doesn’t speak clearly to the people they want to reach. Think about who wants what you’re selling. Is it entrepreneurs? HR professionals? Stay at home dads? Tech-savvy millennials? Social media consuming techies? Once you’re come up with your target audience, you can narrow down and define your business niche even more. Plus, you’ll be able to craft search engine-optimized content that will engage and inform exactly who you want to be buying your products or services. 

3. Know Your Business Competition 

It’s essential to know what kind of competition you’re up against when you’re defining your business niche. Start with Google. Search the keywords people might use to find your business. If you see pages and pages of results, countless social media pages, and a lot of PPC ads (those are the paid ads that appear to the right and sometimes above the organic results), competition is high for that keyword or keywords. You’ll probably want to narrow down your niche even further, or find another niche to target. 

For example, if your niche is corporate fitness training but there’s a lot of competition, brainstorm some other keywords to optimize your site for – maybe in-office corporate training, executive fitness training and corporate weight training. The trick is to find the balance between low-competition keywords that have a decent search volume. If you’re the only one using a specific keyword but nobody is searching for it, you’re not going to get the results you want. 

Once you have defined your business niche, you’ll be able to market your products or services more effectively. You’ll know your focus, target market and competition, which will make differentiating your brand and defining your unique selling proposition (USP) much simpler. 

A good brand strategy takes time, and ideally some professional help to ensure you’ve got everything you need for a clear, concise and compelling brand message.

Guest Author: Susan Friesen, founder of the award-winning web development and digital marketing firm eVision Media, is a Web Specialist, Business & Marketing Consultant, and Social Media Advisor. She works with entrepreneurs who struggle with having the lack of knowledge, skill and support needed to create their online business presence. Article updated and expanded from Articles Factory.

I hope you enjoyed this article about the tops ways to find the right business niche for your new company.

Interested in reading more articles about building a business? 

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