Jeff Ber Shares Seven Strategies for Figuring out Your Business’s Niche

Before you start your new business, it is best to define your niche. Concentrating on a specific segment of the population will enable you to focus your offerings and marketing.

Business leader Jeff Ber from Calgary, Alberta, shares seven ways to determine the right niche for your business and how this can help you cement your position.

1. Examine Your Skills and Passions

To be successful in business, you should be familiar with your strengths and weaknesses. What specific talents do you have that could be converted into a business? You should choose a business area you are passionate about because this will make your job easier and give you a reason to start work every morning.

Think about which fields you have studied, what knowledge or skills you have gained through your work, and which personal qualities can lead you to success in the business world.

For example, you may be passionate about fashion. If you have a deep interest in your area of business, you will be more likely to create a dynamic, popular business idea.

2. Identify Customer Pain Points

One of the best ways to find your niche is to identify the customer’s pain points. What problem or issue does your customer need to solve? This can help you discover which customers will find your business’s products and services useful.

For example, your ideal customer may be so busy that they do not have time to prepare healthy meals for their family. You may see an opening for a custom meal preparation business that brings together fresh and healthy ingredients that require a minimum effort to serve.

3. Market Research

Before you throw all of your efforts into starting your new business, make sure there is a market for your niche. Unless there is a need in the market for your particular niche, you will not grow your business past a hobby or a side hustle.

One of the easiest ways to start market research is to use the Google Keyword Planner. You can gauge the level of interest in your selected keywords in an online environment. This is helpful for e-commerce businesses and brick-and-mortar operations, since most people search online for product and business information before becoming a customer.

You should also perform a demographic analysis of your prospective customers. Think of the ideal profile of your customer, from their age and income to their interests and physical location. Use this information to create a demographic search. You can use data from StatCan or contract with a service provider to receive professional market research.

4. Refine Your Niche

After you have done some research on the possible market for your business, you may be able to narrow down your niche even further. For example, you may see a void in the community for a clothing shop aimed at mothers with small children. Do everything you can to target your marketing efforts toward your specific niche, from your website to paid advertising and social media.

5. Examine the Competition

No matter what business idea you choose to pursue, likely, another company is already operating with a similar plan. This is especially true online. Take a close look at your competition and judge their strengths and weaknesses. If you can outcompete them in a particular area, focus your efforts there. Your new business will thrive if you give your customers a reason to choose it over any alternatives.

6. Position Yourself As an Authority

According to Jeff Ber, content marketing can help you establish your business as an authority in your field. For example, if you run a specialty food store, you may want to post articles about how your products can be used in novel and exciting recipes. You may wish to post informational articles about the origins of your best products and give insights into how they are made.

7. Make Your Marketing Effective

One of the best ways to market effectively is to listen to your consumers. Consumers are likely to connect with brands that mesh with their desires and needs. You need to share messages that address their pain points as well.

Another way to discover your niche is to create buyer personas. A buyer persona is the representation of your ideal customer. Do all you can to research how these customers shop and how they react to specific marketing techniques.

Targeting Your Niche

Following these seven tips from Jeff Ber, you should be able to refine your business’s niche and decide where to focus your efforts. Above all, make sure that your business reflects your passions, skills, and special talents. If you choose a new business model simply because you feel it will be profitable, you will be unfulfilled by your work, and your customers will sense your lack of enthusiasm.

Refining your niche can also be done when your business has already been in operation for some time. If you find that sales are lackluster and you are having trouble competing with others in your field of business, spending time targeting a specific niche could be helpful.