A microniche is a business proposition that is very specific. You may also come across the term sub-niche to describe these laser focused products or services. Micronic niches drill down into niches that are already separated from a larger market.
Here are a few brief examples to illustrate the difference between a market, a niche, and a microniche:
- Market, Outdoor equipment; Niche, Camping supplies; Micro niche, High-end mountaineering tents
- Market, Technology; niche, Social media platforms; Micro niche, social platforms geared towards specific interests, like Ravelry for knitters
- Market, Beauty articles; Niche, Cosmetics; Micro niche, vegan organic cosmetics
Micronic niches generally have more adjectives (not just “Food Truck”, but “Artisan Grilled Cheese Truck with cheese and bread from the region”) and a highly specific audience (people who love grilled cheese with unusual additions).
Would your company benefit from a micro niche?
One of the biggest advantages of micronic niches is that they pre-qualify clients and customers early in the marketing funnel. People looking for outdoor gear may be looking for everything from hiking boots to fly fishing rods to climbing harnesses. People who are specifically looking for camping equipment can, however, also have completely different “wishes”. You can prioritize:
- user friendliness
- Environmentally friendly production
- Better, best quality glamping
- Robustness ready for the mountains
There is often an overlap in preferred grades. However, if your niche is producing and selling high quality mountaineering tents, you don't have to worry about attracting the attention of thrifty families or people who want a luxurious camping experience.
The other advantages of a micronic niche branch out from there. They include:
- A passionate customer community. People who are interested in high-quality tents are often interested in clear subject areas related to your offer. This makes it easier to create a content strategy for organic traffic. There are less guesses as to what your customers will appeal to. People who want tents of exceptional quality for hiking already know their way around. You would likely be interested in a blog or podcast that offers specific, knowledgeable, or off the beaten path advice and recommendations.
- Less competition. In broad markets and even niche markets, gaining visibility and brand awareness can be challenging. In a microniche, it's easier to earn attention and differentiate yourself because you have fewer competitors. You still need to state your unique worth in the room and make that clear to your discerning audience.
- Brand loyalty. While this is not something that can be taken for granted and requires meeting the demands of your audience. However, a subniche can fuel long-term interest. That's because micronic niches are based on expertise, passion and customization. It's harder to personalize broad markets
Businesses can start with a single micron niche. For example, Bite offers sustainable toothpaste tablets known as "bits", mouthwash bits, dental floss and toothbrushes through a subscription. Her focus is on waste-free, plastic-free, vegan and cruelty-free production.
Drybar is another microniche company that has built a customer base in the hair salon industry. The "need" they took advantage of were people interested in a "just-from-the-salon" look between full haircuts and colors.
Alternatively, companies can add a microniche after establishing their brand in a larger niche market. The mattress company Casper has expanded its niche range to include dog beds. Mattresses are large and infrequent purchases for most of us. Although dog beds are far less expensive, dog owners will likely replace them more often. Offering dog beds is also a way of attracting new audiences to the entire Casper brand and the quality of their craftsmanship.
How to discover the best micronic niches for your company
1. Identify your strengths.
To discover a micronic niche worth developing, first look at your strengths – either as an individual, as a team, or as a company. You are more likely to achieve sustainable success in areas that excite you and your team.
Imagine a company that helps companies recruit employees. Perhaps your team excels at executive recruiting or mid-career support for switchers? This could trigger a B2B offer in a microniche, e.g. B. Middle-level leadership development services or executive compensation consulting.
2. Focus on the problem.
What problems need to be solved in your industry or in your life? Think of the times when you thought, "If only we had _____" to help with a common problem in our daily life, work, or leisure activity. Fill in this void for a promising micronic business idea. Problems that you face are likely to be common to other problems as well. Think of different problems and creative solutions and find out which one excites you and trusted colleagues the most.
3. Do your micronic market research.
You want to make sure your microniche has a customer base. Here are some areas you can focus your research on:
- Informal and formal market research. Talk to friends and family about consumer ideas or speak to industry peers about business service needs. If you have the budget, send email or social media surveys on the topic to measure interest.
- Google Trends. This tool allows you to discover micronic niches in larger niches and the general interest in your micronic niche. Find different terms related to your subniche, then explore the related topics and questions. You can also find out regional differences in interest.
- Social media and industry organizations. Discover hashtags on social media related to your subniche or industry. Find out more about associations, professional groups and organizations in your target industry. What are you discussing or happy about? Do you notice an emerging subject? Do you notice a missing link in the discussion that could be an opportunity?
For example, a search for "mountain tent" reveals strong (and unsurprising) regional interest in Colorado and Idaho. It should also be noted that “Hyperlite Mountain Gear” is a related topic that can guide your product development and future marketing content.
4. Look at the competition.
It is possible that you have a Eureka moment and land on an untapped idea. For the most part, however, you will find that your skills and interests lead you micronic with existing businesses. Now you need to go back to Research and Brainstorm mode. Here's what you need to find out:
- Is the market big enough for two, four, or 15 of you?
- How can you stand out from the competition? With white glove service? With a lower or higher price?
- Where do they fall short?
- How can you do better
5. Test the water.
You don't have to dive right in. It is wise to test the water with a single product offering first. The clothing company Bombas started in 2013 with a single product: comfortable performance socks. It has been expanded to other garments, but socks remain at the heart of the brand.
Another way to test your idea is with a landing page. This is a simple process using drag-and-drop tools like HubSpot's Landing Page Builder. Once you have a personalized landing page, start promoting your product or service with paid search and social media ads. Your proof-of-concept is in the pudding – when the pudding is constant data traffic, filled out email forms, in-depth sales calls and product pre-orders.
Use keywords on the landing page and in your ads that clearly define your offer. In this way, you draw people into your micronic niche with genuine interest or purchase intent.
6. Trust your instincts.
If you come up with a product or service idea that in your opinion has not yet been implemented or not implemented very well, you should trust your gut.
- Untuckit was founded on the simple premise that men wanted button-facing shirts that looked neat, not hidden, and were hard to find.
- Lefty & # 39; s e-commerce store sells common kitchen, garden, school and work equipment specially designed for left-handers.
- Olive & June is a nail polish company that sells kits that make manicuring at home easy and fun. The kits come with a holder for your phone so you can watch a video while your polish dries.
These microniche companies often have one thing in common: when they hit the market, people often wonder why the product or service was not available before. Find your microniche and follow these steps to bring your business to life.