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The Secrets Behind Marketing To Niches For Solo Entrepreneurs

By Mark Davis

For any business that has a product or service to sell, the ideal market would of course be one with a strong demand for that product, but without a lot of competitors. Especially if you have a small business, it’s virtually useless to try and compete with the chain stores purely on the basis of price. You will be much better off targeting a subsection of the bigger market for which the large stores are not catering and for which your products are ideally suited. This is commonly referred to as a niche market and coming up with new niche marketing ideas should be of prime importance to every business owner.

Where do you begin to start a business based on a niche market? If you plan a new business, the best would be to take some time, sit down and make a list of your product ideas, your experience, technical knowledge and interests. Starting a business in an industry that you know something about is simply so much easier than venturing into something that you have no knowledge about.

Let’s just as an example say that you’re a housewife with an urgent need to make some money for the family, but you don’t want to leave the children alone to work full-time. A home-based business is the ideal solution for you. Start off by making a list of all your hobbies, work experience, interests and talents. Write down everything, even if you initially think it’s insignificant.

In our modern era of mass production, there’s always a demand for homemade products. If you are known to make the best jam in your community, why not turn this into a lucrative business? Don’t for example market the product to the end consumer, but package it very attractively, in a jar with an old-fashioned label that says ‘home made’ and market it to people who buy it as presents for other people. If you keep the product and packaging very upmarket, you can charge more for it than the store because the buyer wants something that looks classy.

The same principle can be applied to any other product you manufacture at home. Package it differently than the competition. Aim at a different market segment. Add free gifts with the product; make it stand out. This way you are in fact creating a new product and selling it to a niche market.

Another way in which to exploit a niche market is to take an existing product and add value to it. Let’s say you have a website hosting business. The fact of the matter is that you are in an extremely competitive market. You are selling a product that is basically similar to that of thousands of other service providers.

You can start off by adding value to your hosting accounts. Something that your competitors don’t have. There is a large group of small business owners who would like to do their own websites, but they don’t have the skills. So add an easy visual website builder to your hosting deals, something that even a novice can use to build a website. Give away a free domain name with each hosting account. In this way you are creating a new package deal that appeals to a specific niche market.

Finding niche marketing ideas is not easy. But once you have found one you will quickly realize the power of this concept. Your customers will soon be returning again and again, because they can’t find the exact product or service that you are selling anywhere else.

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Article Citation
MLA Style Citation:
Davis, Mark "The Secrets Behind Marketing To Niches For Solo Entrepreneurs." The Secrets Behind Marketing To Niches For Solo Entrepreneurs. 3 Jul. 2010. uberarticles.com. 4 Feb 2016 <http://uberarticles.com/business/advertising/the-secrets-behind-marketing-to-niches-for-solo-entrepreneurs/>.

APA Style Citation:
Davis, M (2010, July 3). The Secrets Behind Marketing To Niches For Solo Entrepreneurs. Retrieved February 4, 2016, from http://uberarticles.com/business/advertising/the-secrets-behind-marketing-to-niches-for-solo-entrepreneurs/

Chicago Style Citation:
Davis, Mark "The Secrets Behind Marketing To Niches For Solo Entrepreneurs" uberarticles.com. http://uberarticles.com/business/advertising/the-secrets-behind-marketing-to-niches-for-solo-entrepreneurs/


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