Better to go deep with a narrow focus than to go wide with a shallow focus.
In other words, if it were a hole, it would be better to be 1 inch wide and 5 miles deep, than to have 5 square miles 1 inch deep.
That is the theory of niche marketing anyway.
For MOST small businesses this will usually be true simply because most people are competing for the first inch of customers, so they travel far and wide to get it.
But what do you do in a highly competitive market…where even the niches are crowded with competition?
Try going for the niche “leftovers” or using Counter-Target Marketing.
Long before she was the Queen of Twerking, Miley Cyrus’ 2008 Best of Both Worlds (Hannah Montana) Concert Tour grossed $54 Million. The concert tickets sold out in about 24 seconds in multiple arenas around the country, including Tampa, Florida. Even some cheap-seat tickets sold for several hundred dollars each.
Why? How? The target audience (tween girls) were not spending hundreds of dollars. The counter-target (i.e. their mothers) were the ones who spent up to $500 per child on tickets, concessions and merchandise to appease their little princesses.
For every industry, if there is a niche, you can bet there is a counter-niche left as a result.
New and expecting mothers is a very large and very profitable niche. Many brands are trying to win their favor. The oft overlooked counter-target would be the new and expecting DADS. Not many brands consider or go after them, even though they are almost 100% equal in number.
Counter-Targets and Counter-Niche are not the same as Anti-Targets and Anti-Niches, which are also super profitable ways to focus your marketing.
Either way, always remember the basic law of physics: for every action, there is an equal and opposite reaction.
So if you find your niche a bit too crowded for your tastes, discover who is being impacted as a side or tertiary result of the primary group’s actions. Then go get ’em!
Dream. Hustle. Win!