We’ve previously explored how developing a niche marketing strategy can help drive growth, but what are micro niches – and do you need one?
Micro niches are very specific, targeted business offerings. They are even narrower than niches, which are sub-sections of a larger market. For example, in the beauty supply market, a niche marketing strategy might focus on cosmetics. A micro niche marketing strategy would promote organic vegan cosmetics.
Micro niches have a very specific audience in mind.
Would your business benefit from a micro niche?
A major benefit of micro niches is that they pre-qualify customers and clients early on in the marketing funnel. Targeting a smaller market also usually means less competition, meaning more visibility for your brand, although you’ll still need to define what makes your brand unique and better than your competitors.
Pursuing a micro niche also increases the opportunity to build a community of loyal customers. Micro niches are built on expertise, passion and the personal touch. Serve one well, and you’ll be rewarded with customers that choose your business time and time again. A narrower focus makes it easier to create a clear content strategy to drive organic traffic. You’ll be more certain what topic areas will appeal to your target audience, and your already-knowledgeable customers will find value in the content you offer that provides specific, expert advice and recommendations.
How to target a micro niche
Many companies are created to target a single micro niche. Others add micro niches after they have already established their brand in a larger niche market.
To discover the best micro niche or niches for your business, it is important to first identify your strengths. In what areas does your business excel? What excites you and your team?
Next, think about the issues you face at work and in your home life. These issues will likely be problems that other people face as well. Brainstorm creative solutions your business could offer to help solve different problems, and see which one most appeals as a business idea.
Once you have decided what you might offer, you need to make sure that your micro niche has a customer base you can sell to. Talk to family and friends about your ideas, reach out to colleagues in your industry to gauge interest, or send out email or social media surveys. Use the Google Trends software to track regional interest, search terms related to your sub-niche, and explore related topics and queries. Explore hashtags on social media related to your industry and sub-niche. Look at professional associations and other organisations within your target industry. What are they discussing? Can you find a missing link that provides you with an opportunity?
Once you’ve established there are customers out there ready and willing to buy from your micro niche, the next thing to do is to check out the competition. We all dream of landing on that perfect, scalable idea that no one else has thought of already, but in reality you are unlikely to be the only player in your marketplace. Find out how many competitors you will have, and ask yourself honestly if the market is going to be big enough for you all to have a slice of the pie. Think about how you will differentiate your business from the others – will you offer a premium product or service, or cut-price deals? Does the current offering fall short in any way? Can you position yourself as doing something more or better?
Now you have an idea that you think will work, it’s time to test the waters. Depending on how your business works, you could offer a single new product, and see how it fares. Alternatively, a personalised landing page, which can be created quickly and simply using a tool like HubSpot’s Landing Page Builder, will enable you to begin advertising your micro-niche offering through paid search and social media adverts. In everything, make sure to use specific and relevant keywords to ensure you’re attracting the right audience. When you see a steady flow of web traffic, completed email forms, inbound sales calls and product pre-orders, you know you’re onto something.
Micro-niche companies that provide innovative new or better products or services tend to have one thing in common; when they came to market people wondered why the idea hadn’t been thought of sooner. So, trust your instincts. If you think you’re onto a winner, you might just be!