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Online Marketplace: Broad niche or Targeted niche which way to go?
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Ashleigh Hansberger, Co-founder and Chief of Strategy at Motto answered:

Don't make the mistake of thinking that casting a wide net will increase the probability of success. This is so not true. “Everyone" is not a target market. Having a niche vs. mass strategy is really important, more efficient and more profitable. In fact, anything other than getting super narrow with what you do and who you do if for isn’t a strategy at all. Serving a niche allows you to focus on meeting the needs of a smaller group of people without risking your chance to increase the appeal to a broader market as you grow. When you go narrow, you get a deep understanding of your customer and their needs. Your message is more focused, your efforts are more fruitful, and overall you have a more effective brand strategy.

Hope that helps! Would be happy to have a call with you to discuss further.

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