consider your business niche

Anyone reading this into BTS?

Anyone reading this know they are one of the biggest teen bands in the world right now?

Nope me neither.

They have generated a staggering, 27 billion streams on Spotify, so how can you not of heard of them?!?!

Because the product is not designed with you in mind.

These guys talk in a different language to you, look differently to you, hang out in different places to you and sing about things that just aren’t relevant to you.

Sorry grandma, you’re not on the wall chart.

Yet they speak to their niche market with complete ease, understanding and acceptance.

And they transact together commercially again and again.

The product creators, the record label, do this purposefully. They know full well they are isolating the band from billions of other music consumers. Why? Because they stand more chance of getting it right if they tackle a smaller yet still lucrative niche. They have more control of the outcome.

And they know taking on the whole market can be a long, drawn out, expensive “hit or miss” affair. There are just to many factors to consider, endless in fact.

But this is a massive risk surely? Turning your back on a total market?!

Not if you do your homework.

And the music industry is particularly adroit at this.

They have been making, designing and aiming their “products” at niche markets for years. Waiting for the next global, market flattening, wunderkind is unpredictable, takes time and doesn’t look good on a forecast. Plus, they generally don’t do as they’re told.

So they prefer to do their research and build with a very specific end consumer in mind.

As we consider this “boy band” example it feels merciless. Young people are being manipulated at both ends of the business cycle. It just ain’t cool. It’s cold and exploitative.

It seems less so if we use the same principle for every single consumer product available. Yours in particular.

Why wouldn’t you double down on exactly who your niche market is? The answers come quicker when you have less to consider on the road to success.

Plus, it’s bloody hard work being everything to everyone, less so being something to someone.

Ask yourself the question “who is our niche?.” and see where the answer leads.

Give me a shout if you need someone to thrash it out with.