On my last post we’ve got into building your strategy and today I want to talk about core foundation of it, which is the product itself and finding your niche.
Knowing what product we are selling, we can determine how to promote it later. But why am I talking about this when you already have your products? Because sometimes it’s worth thinking about finding a niche, i.e. a narrow audience, an area where there is not much competition and thus there is the potential to sell products at a higher price – it’s a bit of economics theory ?.
Some of you already have a nice niche. Keep it up and develop the assortment as part of these niche.
Niche does not mean that we are limited to one product – on the contrary, we can add further products supplementing the offer for this particular customer group or expanding versions of our base product.
For those who have a wide range of products from completely different types of crafts, I also have good news. You don’t have to give up to any of them – maybe you just like doing different works and that’s good too (then be sure to write about your versatility in information about yourself).
And in this case you can still think about a specific recipient of your products. Maybe it will be babies, children or maybe just men? (by the way, going through everyone’s offers, I don’t see many products for gentlemen and it might be a pretty good idea, because of small competition, and usually ladies buy for gentlemen anyway).
Another idea could be various accessories in some style (boho, traditional, rustic…)? Someone who will check even one of your products, then will see a whole range of other products, which will also be his ′′ style ′′ and thus buy more from you. If you add a discount promotion to this when buying over X euro or free shipping over X euro, there is a high possibility that you will increase your turnover per customer.
If we still have a lot of competition in our niche, we are looking for the unique value of our product. For those who are not quite convinced what I’m writing about yet, I’ll give you an example of macrame, because I’ve seen a lot of them lately. The product has become popular and it is good that there is competition. But all look similar (for a client, i.e. the average person who doesn’t know how to create them), and you start to have a price fight, which will not benefit your businesses. So how to get out of the crowd? Find your distinction – unique product value. It could be some kind of element, style, or complementary product added to the main macrame. You can also offer free shipping from some amount or the guarantees mentioned previously (′′ delight ′′ ?), but it’s more of a product service.
I hope you enjoyed!
Have a nice day,
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