Last updated on May 25th, 2021. Posted in Find Your Business Niche.
For your online business, it's very important to narrow down your focus and zero in on the target audience you want to serve -- the market sub-set that you'll directly seek to attract to whatever it is that you do. Need some examples?
Here are links and resources mentioned in today's video. Enjoy!
Here's a goofy one: I really like science fiction. But that's a very broad genre. Sci-fi includes space opera, soft sci-fi, hard sci-fi, space adventure, retro-future...and then there's all the punks: cyberpunk, steampunk, dieselpunk, and more.
And let's not forget all the cross-over stuff, like sci-fi/horror, sci-fi/comedy, sci-fi/action, and a million others -- and each one is a unique and distinct sub-market.
And you know what's interesting? As a sci-fi fan, I dislike most of these sub-groups! Instead, I'm very much in tune with what I really like...and what I don't. Said another way, I'm a member of just a few very narrow sub-genres. Are you, too?
Or how about fitness? There's strength training, endurance training, cardio, flexibility, body composition, sports training, and more. And these easily break down into smaller and smaller sub-categories. Once again, one very tightly defined sub-category appeals to me and I ignore all the others.
The point here is that you can take any market, any topic, any area of interest, and break it down into smaller and smaller sub-categories. These are often called niches, but I usually just call them sub-markets, sub-categories, or target markets.
The important thing here is to start thinking about a specific sub-market you want to serve in your online business. And what's great is, as mentioned, it doesn't necessarily have to be a very big market. That's because rather than a big audience, what you really need is an engaged audience!