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Finding a niche in a crowded market of copy-cat, me-too products and services continues as one of the fastest growing untapped demands. Most businesses dedicate over half their time and resources in finding ways to separate themselves from the competition. In addition that figure is expected to grow. That’s why one of the fastest growing demands for more companies and even non-profit organizations is for niche consulting. This is one of the fastest growing untapped markets, according to a University of California research study. Those who get in now will reap huge rewards in the future according to the report.
Everyone knows the importance of having a business plan. But as more people discover the importance of having a “niche” marketing plan, consultants will continue to grow in demand. Why? Because niches stand at the foundation of every successful product, service or business in today’s crowded and competitive markets. They create jobs, profits and business growth. In addition, today’s savvy consumers have more targeted needs and people with targeted needs pay more for targeted products and services. That’s what a niche represents.
Helping companies find a niche and develop a niche marketing plan is the basic duty of consultants. Most companies realize the importance of finding a niche, but few know how to keep their niches effective and tuned up. That’s why more companies see having a consultant as a wise investment, whether a company is looking to find a niche or already have a solid one.
Prospective customers exist that most businesses have never seen, that’s where a consultant comes in. The customers and profits wait for the business who finds the niche product, service or market in their industry before the competition does.. That’s the value more people find in hiring a niche consultant.
Another area more businesses find valuable about having a niche consultant is improving on a niche they already have. One fact remains, the business at the top of their market or industry has everyone below them gunning for their niche market. That’s why it’s essential to finding new ways to improve niche product or service if you already have one. For example, finding news ways to improve the quality, the benefits, the features, how it’s marketed and sold and a host of other elements.
A business who takes the time to focus on new target market niches to fill or improve on could put themselves ahead of the competition. Or if their a small business they could get help that will help put them on a level playing field with larger competitors.
Small businesses continue to discover they can increase profits and market share by focusing on smaller segments of their market. That’s what marketing professionals call the bow and arrow approach instead of the shotgun approach many business failures try to do. In addition, many business soon discover trying to be all things to all people carries the most risk and require the most money to pull off.
These are examples, benefits and solid values a niche consultant can bring to any business, whether it’s a fortune 500, spare bedroom or kitchen table. This skill continues to grow in demand as the marketplace gets more crowded. The demand for niche consultants is an untapped market.
The person who can show a person or business how to create, find or improve a niche will have a high demand skill. Why? Because as the marketplace fills with more me-too copycat products, services and businesses, savvy business owners will seek ways to separate themselves from the crowd. That’s where prepared niche consultants could reap huge profits, states the revealing research report.
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