Defining Your Niche

Defining your niche is the first step to corporate success and building a successful brand that stands out in the marketplace. Any company can easily accomplish this goal by following our simple yet crucial plan. Define your niche for corporate success.

Define your Niche with our 7 Step Approach

The road to discovery is often marked by ability to navigate the journey using the most direct path. Exploration opens to new opportunities when you identify your market niche. You create the map by examining details.

Follow our approach to define your niche:

1. Develop your corporate mission statement.
How is it (or how can it be) unique in the marketplace?
What does the product do, what problem does it solve?

2. What is the company name?
Does it immediately identify your business?
Is it easy to remember, spell, and unique?

3. Define the reason why the company exists. 
Discover your purpose and goals as a corporation.
Beyond making money, who does your company help?
What is your area of industry?
Where does your company fit into the current market landscape?

4. Who do you serve?
Think in specifics to find your target audience.
Who is most likely to purchase your product or service?
Are other companies likely to be customers?

5. What do you hope to achieve?
How do you wish to be perceived and interact with your audience.
Where will your brand stand out in the market?
Be specific - are you helpful, friendly? (Ace Hardware)
or, is your company giving back in a specific way? (Rare Beauty)

6. What areas of your audience are under served?
Where is there room for growth, in physical areas and expansion of audience. Think in terms of gender, location, customer wealth, or other specifics. Think of your audience, then take it apart into smaller groups to find the answer.

7. What are your strengths compared to most competition?
Explain how you are uniquely suited to succeed in your business aims. Other companies may be well established, well liked, or much larger. How do you compare? Is it a goal to compete with these companies, or do your strengths emerge in being smaller, lean, local, emerging, specific to a niche audience?

What the Results Reveal

Your niche is the special segment of the market that you uniquely provide solutions for. Ask questions to determine your target customer. Address your interactions with the customer to promote this unique position. Your "niche" or market positioning defines your marketing angle in areas best suited to encourage corporate growth. Promote your niche for continued success.