I am building a broad niche marketplace and it is about 90% completed but now I am having a difficult time deciding if I will still make it a broad niche or targeted niche.
I need your help.
I will go with Targeted Niche if you ask me because Marketing to a niche is much easier than appealing to a broad market, since a niche has much more in common in terms of needs, wants, or preferences. Selling handbags is a huge market, for example, and there are many niches with many different uses for a handbag within it. You might have new moms who want a handbag that can be used as a diaper bag, you might have college students who need a bag to hold their books, single women in need of an evening bag to hold their phone, keys, and credit cards, vacationing moms who want a large beach bag to hold their family’s gear, and many more. But understanding the different needs of each niche makes it possible to speak directly to them in your marketing – you will have a greater chance of attracting a buyer’s attention and winning their business by making it clear that your product is for them specifically.
On the other hand, when target segments are broadly defined, prospects are easier to find and target with scalable marketing channels and tactics, but there will be a significant level of variation of needs and buying behaviour within each market segment. Prospects will not react consistently to your content and messaging, making it hard for your team to optimize your marketing mix and implement fully targeted campaigns.
Besides if you do have any questions give me a call: https://clarity.fm/joy-brotonath
