You may have heard the saying:
The money is in the niche
And it is never truer than in 2016, when the internet is getting ever more crowded, and standing out is harder than ever.
Although focusing on a very tight niche is very counter-intuitive, it has a huge benefit attached to it. By focusing on one product, one group or one idea, you are targeting your customers very closely.
So instead of using the old spray and pray method, where everyone is your customer, you are now focused on a specific type of person.
That means that you can adapt your messaging, your website content and your marketing in general to address the problems and needs of this specific audience.
Now that is a great idea, right?
So in this post, we want to highlight some companies that are doing a great job of focusing in on a tight niche in their industry and succeeding as a result.
Concourse Hosting – Blackbaud Software Hosting
As we all know, the internet is flooded with hosting companies that are undercutting each other to get the next hosting dollar from us and their competition.
But rather than focus on a broad niche and offer software hosting for every man and his dog, Concourse has decided to niche down and go for hosting specific software – Blackbaud Software like Raisers Edge and Tableau to be exact.
This means that they have discovered an untapped niche that is currently only being served by the software supplier and perhaps a couple of other players in the field.
The result: a niche-based hosting company that is very successful and does not have to fight with 50 other competitors.
WPEngine Hosting – Secure WordPress Hosting
While we are on the topic of hosting, it is worth taking a look at some of the niche players in the WordPress hosting space. It is one of the most popular hosting arenas in the world, so you would think that getting a market share would be tough.
There are the likes of web hosting companies GoDaddy, Bluehost and Hostgator, many of which now have a bad name as a result of their consolidation and cost cutting. So companies like WPEngine have decided to offer more premium hosting and only for WordPress. They are focused on helping WordPress website owners have a more reliable and secure environment with a bunch of features that the other players are not offering.
So in this case, they are also going niche but in a competitive market. However, by offering a product to a premium segment of the marketing, they have won a successful post in the industry.
Freitag – Recycled Bags and Clothes
Frietag, based in Zurich Switzerland, had a great idea of reusing truck canvases to make bags of all shapes and sizes, but at a premium price.
Sure you have the likes of Louis Vitton already dominating the bag market, and even dozens of other players in the mid-range, but by producing a very niche product using a material no-one else was even thinking of, Freitag at first found themselves with a niche, but loving audience.
As time passed, and their product range expanded, so did their audience. And they now not only are a huge brand with stores worldwide, but they are insanely successful. Especially when you consider their product certainly should, or would not appeal to everyone.
Another lesson in niche marketing, go narrow, then go broad!
FurnaceMFG – CD and Vinyl Pressing
Our last example is one that is quite interesting. This kind of idea comes up all the time, but we often ignore it: servicing a niche that seems to be dead.
Despite the fact that many things are no longer popular or used, does not mean there is not a market for it. So if you take old toys, old games, old ideas, you can always (especially with the internet at hand) find a niche market to supply.
Furnace MFG did this with Vinyl and CD pressing, as it was getting harder and harder to get either of this in an ever-growing digital world.
What a great idea right? Serve the true fans. The ones who are going to love you forever!
Niches are not as hard to discover as you think, all you need to do is be creative.
And certainly don’t be scared of going too narrow, as you are more likely to find your true customers that way.
So when you are next starting a business, or improving an existing or dying one, go narrow or go home!