Niche market definition | Niche market examples

niche market definition | niche market examplesNiche market definition, let’s be clear. Think about it. Is there something you know perfectly and are you a point of reference for your friends about? Something that you are passionate about and that others may consider a bit strange but that you like so much that you have become an expert in it? An influencer in your own small way? It could be the English TV series, the cultivation of aloe, education for dogs with a certain type of behavioural problem, books for children with dyslexia, vegan pastry and so on. There are as many examples as there are people and their interests. These are all potential market niches – the ones we talk about so much – on which to intervene and on which to create an interesting business if well exploited.

Niche market definition

The niche is a market segment that affects a small number of people with common needs and characteristics, different from the generic market that includes many people with diverse interests. In a niche, people therefore share a sense of belonging that makes them feel like a sort of family in which to exchange help and advice among people who “know” about it. After all, if you have a problem with your latest iPad, for example, you’ll have it fixed by a retailer who specialises in Apple products and not by a general appliance store, right? You trust people who specialize in one skill more than people who know a bit of everything. Of course .

Using the niche to succeed

A blog, e-commerce or website can exploit market niches to intercept a specific target to which to turn with precision. Having a niche involves Choosing keywords and defining topics to produce quality content that brings value because it solves a problem and responds to a need. Well-structured content will lead to a Site that receives targeted traffic, is indexed and SEO friendly. A specific niche is equivalent to specific traffic which can in turn lead to a higher conversion rate. The more you specialize, the more successful you can be, always because of the mechanism by which you trust those who seem to you to be experts in a certain topic that interests you.

Betting on existing niches or creating one?

Surely there are niches not yet explored to be used well but also niches already on the market with potential not fully exploited. Do you think finding a new niche is very difficult? Ok is not a piece of cake and even choosing a niche too small can be a risk but sometimes just curiosity, ability to look around and ask questions to find the right niche. You can then think of macro areas of success (travel, pregnancy, cooking, computer, etc..) divide them into more specialized and special areas or rely on specific tools such as Google Trend that allow you to identify current trends and emerging market niches. Choosing a specific topic to focus on can be very advantageous in terms of marketing. The market niche can therefore be a great ally of your web activity. Do you already exploit it?

Niche market examples

Once the competitive strategy is stable, it is important for a company to determine what competitive position it wants to take on the market. A distinction can be made between four positions: market leader (company with a leadership role in the market), market follower (companies that follow, imitate the market leader), market challenger (the most dangerous for the market leader, is the one who has the opportunity or is trying to erode the market leader’s market share), market niche (niche strategy). The market leader has a dominant position in a business with a significant market share compared to its competitors. The leader tends to set the pace of innovation and the modalities of competition. He sets price standards, the intensity of promotional campaigns and the quality of distribution. It can be the first comer or someone who has had the strength to become the leader. It is an important role that offers opportunities that must be seized but it is risky because it is better not to expose too much of its competitive advantages and must be careful to the market challenger. It is a benchmark for others. The leader can be a company, a brand or a product line.

The market leader

Will be responsible for developing the market; with his dominant position he can expand the market thinking of new uses or increase the intensity of use of a certain product. It can increase market share, defend it through an effective marketing mix. It is necessary to identify and defend oneself against challengers through continuous innovation, widening the range of products (considering the possibility of imitation) or conquering spaces in distribution. They invest to stabilize demand (or try to increase it) and maintain customer loyalty. Beware that the advertising that the company does can also benefit competitors. The leader can do these actions because he has experience and ability, the public authority tends to support him because it has a significant employment impact (too big to fail), has resources to enter new businesses.

Market challenger

Is the position of a company that attacks leaders in order to snatch their market shares. The threat is enough that it is possible (credible) to alert the leader. Is it convenient to launch the attack? It may be cheaper to invest to improve efficiency. To be a challenger you are already the person who could potentially become the leader, because he already has the knowledge and has already made the investments that have allowed him to get this position. The risk of the market challenger is higher the faster the change (innovation) in the business is. It’s difficult because the leader defends himself by raising barriers so the challenger has to consider sustaining losses in the short term. To be successful the challenger must have advanced technologies and knowledge.

Market follower

Is the position of companies that try to give stability to their market share by imitating the strategies of others (prices, distribution, promotion, etc.). It often happens that the follower, precisely because he is not exposed to risks, underestimates them. He does not have the possibility to change his market position and therefore adapts, imitates and avoids direct comparison. A different position is for those who try to survive by accepting to apply low prices without competing on quality or in any distinctive element. A recession can easily eliminate it. It does not adopt a competitive behavior but survives.

Market niche

Is a business (typically small in size but can be global niches therefore with a relevant demand) that specializes in niches without seeking comparison with the dominant enterprises, it does not even imitate. It differentiates and focuses on a niche. You choose to work in a very small segment offering a product with high quality and often high price. The key to success is consistency between the needs of niche customers and the strengths of the company. Implementing a niche strategy does not simply mean concentrating on one or a few small market segments; small size is a typical feature of niches, but it is not enough for a small market segment to be a niche. A niche is a niche if it is formed by a group of customers with very special needs, different from the general needs of the market, and who are obviously willing to pay adequately to see their specific needs met. For consumer goods, the best known niches are fashion designer markets, whose customers identify with a certain style and not with others, but niche markets go far beyond the fashion world, ranging from those who have a particular hobby to lovers of a certain regional food, from fans willing to spend considerable sums on a high quality audio/video player to lovers of alternative holidays, etc.. A niche strategy has two major advantages: high profitability and relatively little competition. Companies operating in a niche can easily reach a large market share.

The difference between blog and site

There is actually no real difference because the blog is a type of website. But there are different perspectives than the static nature of a portal or an online shop window. The point is just that: the blog represents the movement, the continuous evolution. There are two fundamental characteristics of the blog that then trace the difference with other sites: the perpetual change of the home page and interaction. If you go to the home page of X site and every day (more or less) you find a different content, this Google appreciates it, and even people recognize its value. Having fresh, or recently updated, articles dedicated to a topic means being able to address the topic in the best possible way. And working on two different paths: to satisfy Google and satisfy users. This is also inbound marketing.

The strengths of the blog

Not to mention that each content is an open door to bring potential customers on your favorite landing pages. Not to mention the readers who can interact and leave comments. Can you do this with a traditional website? No, it’s not possible. With the blog, however, opens an interactive phase of the relationship between the writer and the reader. The differences are clear: evolution of the contents and comparison with the reader. Now We want to deepen the question: what is a blog? It depends above all on you, on how you want to use it, on the perspective you have chosen.

What is a niche blog?

The niche blog is a tool that is inserted into a web marketing strategy to gain benefits. How? In the easiest way possible for you. Thanks to the publication of quality content that meets your needs: through the blog you intercept informational searches, the majority of queries.

What are the most important researches?

People want information. And you have to give the answer. You have to be the best solution. What is a niche blog? A medium, a tool to shorten the distances between those who seek and those who offer. You do it by offering your skills at no cost. In this way you are found. The niche blog is an investment. In this case I insert the activity of the freelancer, of those who want to use the blog to promote their business. I repeat, the blog is an investment. Not an expense, not a cost but a way to earn more in the long run.

What is a personal blog

The personal blog is something different from the niche universe. You don’t have structures to hold you back. You are free to expose your thoughts to let the words run on the sheet of paper. The personal blog is a spectacular way to give voice to creativity. And to make people read your work. This way you can expose your talent, you can make sure that there is feedback from the public. Every form of creativity needs confrontation. I want to know if what I’ve written is worthwhile and successful. But not only that. The blog is also introspection. It’s a way to look inside you.You have to find a way to write without a master. Only for yourself, to satisfy your expressive desire. What is a personal blog? A valve of venting, a way to express your being. To deepen your knowledge you have to find out what to write on a personal blog.

How to write a blog

Given these differences the question is clear: how do you write a blog? Do personal and niche projects have the same dynamics? No, there are differences to evaluate. The reason is simple: the niche blog must be at the service of the activity. It must follow an editorial plan. But, above all, it must achieve objectives. The articles must be designed to answer the questions of the people that and provide a solution for that. A personal blog, on the other hand, can be approached with greater freedom. There are no limits, you can write as you like. You don’t have to have an editorial calendar to respect, you can turn the blog into an extension of your world. All this becomes exiting when you decide to turn your amateur activity into an income. Monetizing means moving towards an entrepreneurial vision of the blog, you have to make compromises. You have to give the public what they want to get organic traffic, and earn with the niche blog. Without compromise.