5 Benefits of Niching Your Ecommerce Business

Course content (12 lessons)

Welcome to the course! I’m so happy you’re here. In this welcome video you will discover: what is a niche and why it works, how one of the world’s largest companies started as a niche business and the five benefits to niching your business. Let’s get started!

0:02
You are here because you realized that if you focus on a very specific group of people with problem solving products made just for them you will have customers beating down your door to give you their money. That is what a niche will do for your business.
0:22
How do I know this works. It’s the secret sauce to my success. My name is Vivian k and I am a 14 year veteran of the entrepreneur game. I have bootstrapped two businesses from the ground up since 2012. I’ve grown KinkyCurlyYaki a premium textured hair extension
0:42
brand for black women to over $1 million in annual revenue by focusing on niche. With both my businesses I focused on specific groups of people address their pain points and solved their problems. I did this without relying on paid ads.
1:02
As a college dropout and a single mom in this course, I’m going to share with you the Vivian k framework mission or steps to mission your e-commerce business. These are actions you can take today to attract the right customers and grow your sales in a saturated marketplace.
1:24
If you’re a new business or have an existing business and don’t know what really separates your products from your competitors then your customers can’t tell either. In order to stand out in today’s competitive marketplace you need to negotiate by selling niche products and choosing a targeted audience.
1:45
You have a better chance of succeeding. Why Because you’ll know exactly who to target. Instead of selling to an overly saturated general audience. For example today Amazon sells everything but they started out in a narrow niche selling books once they were able to get a foothold in that market.
2:05
They were able to grow wide into a 916 billion dollar company that they are today. But Amazon is the exception not the norm. As a small business owner selling everything to no one specific is a surefire way to failure.
2:29
This is why you need a niche whether you decide to live in the niche or use it as a way to kickstart growth in your business. Here are the five benefits tarnishing your e-commerce business whether you decide to live in the niche or use it as a way to kickstart your growth.
2:50
Here are five benefits to meeting your e-commerce business. No one missing will kickstart your sales by focusing on a narrow niche and audience. It gives your business room to grow wider. Later when you focus on a target audience and a few products
3:10
to address their problems and pain points not only will it kickstart your growth it will give you the runway space to expand in the future like Amazon. Number two: Nielsen gives you less competition in the marketplace. You can probably think of at least two dozen clothing companies that sell women’s clothing.
3:32
But can you name a company that sells 80s retro themed t-shirts to women in their 30s and 40s with high disposable income. If you can name one then you probably can’t name a direct competitor. Narrowing down your niche will automatically reduce the number of direct competitors you’ll have. By the way, I totally made that shop number three
3:56
creating a niche gives you more bang for your marketing bucks marketing costs money when you’re strapped for cash. Missing can help you save money. The more focused your audience and products are the more focused your marketing can be. Number four niche creates raving loyal fans.
4:19
When you solve a customer’s problem address their pain points and create messaging targeted directly to them. I guarantee you will create raving fans raving fans equals great word of mouth marketing which is free. 99 and quite frankly the best type of marketing any business would want.
4:41
And finally, number five missing gives you more overall control over your business. No one started their business to feel overwhelmed and not to be in control of their future by creating an niche and speaking to a targeted audience. You will be better able to set your business goals and have more predictable sales all because you have loyal customers who will support your business. That sense of control is priceless and will give you space to grow your business.

5 Benefits of Niching Your Ecommerce Business

Course content (12 lessons)

Welcome

01 |Overview

02 |How to Find your Niche

03 |Researching & Evaluating your Target Market

04 |Identifying your Target Audience

05 |Next Steps + Conclusion