5 methods to search out what you are promoting area of interest and dominate it

Define the niche

Spotting a gap in the market is really about identifying unmet needs or finding under-served customers. This often comes from knowing the industry well and discovering an unsatisfied segment. Some of the more lucrative niches are in areas where bigger players cannot meet more complex customer needs because they either don’t have the specialist knowledge or haven’t set up their business to accommodate these types of clients.

For example, being in the mortgage game allowed me to see that self-employed applicants weren’t being well served by mainstream lenders. So I focused on developing and marketing products suited to that specific group, which meant we were no longer competing with banks because they didn’t have the capacity to maintain specialised documentation offerings. We were suddenly in a field with only a handful of other, much smaller, players which meant we could be competitive.

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