Finding a niche is typically the first order of business when trying to outdo competitors. After all, what better way to get ahead than in a space where you won’t find them?
In reality though, finding a niche is more than just trying to create an accurate, innovative lead generation strategy. It’s about establishing your hold on that niche before your competitors do. The niche is like a game. It won’t be long before your competitors start playing it too!
There are many variations of maximizing a niche. You have niche keywords in SEO, niche product categories, and you also have the niches you make yourself with new products. Still, variations don’t count for much once your competitors get a wind of what you’re doing. And then, the invasion begins.
Knowing this, what’s the first thing you’d feel like doing? Would you prepare for this invasion? You haven’t even explored the whole niche yet. Would you keep on exploring? You may be unaware of the warships already on the way. Would you strengthen the rapport you have with customers? Your competitors might tell them something you won’t.
The good news is that you’re not necessarily caught between a rock and a hard place. Amazon was thought to be a pioneer of cloud-based technology but it’s certainly well aware that rivals such as Microsoft are charging right in. Responses don’t just have to start at the core of your business. Marketers can work on the fortifications by:
- Preparing with what you’ve learned – By stepping the gas on your market research, you save yourself from competitors who learn things before you. Outsource telephone surveys and take closer looks at generated feedback. Leave no stone unturned and use those stones to start building your fort.
- Have all eyes open – Expand your capacity to hear news. If you’re already an established authority in the niche, maintain that position by always having up-to-date information. Watch out for any attempts your competitors might make at playing your game. Your R&D department can’t act if they don’t know what they’re responding to.
- Be transparent and champion converts – Some of your customers might have in fact migrated with you into the new niche. This comes with being open about what you’re trying to do, what obstacles you have, and what new measures you’re taking. In other words, it’s from being transparent. Customers trust you because you show a sincere desire to give them something other competitors don’t have.
Being the first play still has the perks of knowing more about the field. But like any perk, it’s not good by itself unless you invest in it more. Don’t just keep playing until you realize five more players have jumped in to challenge you. Start playing better now!