Narrowing Your Brand's Niche
One of the main reasons why people struggle with sales with their new business is because your niche is too large. It is basically impossible to attract everybody.
When you are starting out, you need to create a narrow niche.
What is a niche?
A niche is the group of people you want your brand to attract.
"an area or position that is exactly suitable for a small group of the same type."
For instance, if your company sells luxury dog collars. You want your niche to be dog owners that have the means to spend extra money on their pets. You don't want to market towards bird or fish owners because they won't buy a dog collar, and it would just be a waste of your marketing budget.
How to determine your niche:
Identify what problems you are solving.
Every brand or company should know what problem they are solving or how they giving value to people. Then find the consumers that are having that problem, or looking for that value that you are providing.
2. Determine your own values, interests, and skills.
You want to be able to relate to your customer. What want to be able to understand and know what they want. Identify key things about yourself and your brand.
3. Create a brand persona.
Start by writing down a list of characteristics that you'd consider your dream client or customer. Create a Pinterest board with how you picture your customer to look. You want to get as specific as possible.
A brand persona is the personification of your company. Give your brand persona a name. What does she/he enjoy to do on the weekends? What do they eat? What do they wear? Where do they work? What income class are they?
Kate Spade created their brand persona perfectly and sales grew because of it.
After you determine your exact target market, you can start marketing towards them.
You can direct your branding towards your ideal customers.