As digital business ramps up, niches are starting to get more and more crowded – and this can be the downfall of your venture. According to business commentators Forbes, niche differentiation is absolutely crucial to growing your business, and the standard motivational fare of old will not cut it in an ever-more competitive market. Instead, constructing a focused strategy that looks at highlighting and impressing upon potential customers your best qualities is the way forward. This starts, simply enough, in customer awareness.
Awareness and SEO
According to business mag The Chron, awareness of what your customers needs are and how to demonstrate that you are aware of them is of huge importance. Increasingly, this awareness will be built through SEO, which is a two-way street in awareness; the factors contained within the algorithms that search engines use are designed to benefit customers, and by design, you will be matching their priorities. By matching your digital content to what’s demanded by the Google algorithm, you can net greater traffic to your web page and highlight your qualities to customers. To use the legal industry as an example, when designing SEO for lawyers, a marketer might focus on ticking all accessibility boxes on the Google algorithm, ensuring they cast a wide net for potential clients, and their web page might quickly and easily show where their expertise lies in a manner that’s influenced by all-important research.
Your awareness of customer priorities can largely be built through market research. This is increasingly easier to accomplish through social media and the like. Business Insider highlight some key principles behind it, and the major one to consider is to identify who your customers are and why they bought your products. Surveys can be cumbersome, so it’s more important than ever to have sophisticated social media tools that can scrape data from tweets using keywords to look at why and how people are enjoying your products.
Making the difference
Having this data in hand and applying it to your customers is the absolute key in making the difference. By having well-researched and developed marketing data, you can see exactly what makes customers tick and why they would be attracted to your product in the first place. By this same process, you can define what your company doesn’t represent. This means setting yourself clearly against competitors, and finding highlights as to why you make products and why you market in the manner that you do. Look at the tech giants for guidance: Apple, Amazon, Microsoft, Samsung and Google all have very clear demarcations in their way of operating and for the reasons you’d consider them within their ultra-competitive arena. Find yours, and you’ll be able to get ahead.
Maintaining that lead in a congested niche is a matter of always looking to put distance between you and your competitors. Always research, always stay fresh, and be ready for change. That way you can plot your own course and ensure the onward viability of your business.