3 Reasons Why Niche Marketing is the Best Thing You Can do for Your Digital Planner Business
There are over 30 million small businesses in the United States alone, so what makes your business different? The best thing I've done for my digital planner business is niche down. It has allowed me to get to know my customers even better, create solution-based products, and sell products to returning customers. Personally, niching down to a specific target audience is one of the best marketing strategies I've employed to build a successful online business. Let's talk about how niching down can help you start a business the right way to grow and succeed without burning out from all the trial and error most of us have experienced before succeeding.
When I first started my business, all I had was a vague idea and a lot of ambition. I created a bunch of products and started my Etsy shop without a clear idea of who my ideal customer was and where they were hanging out. After all this experimenting, I finally chose who I would focus on with my products, and that's when I really saw my business take off.
Niching down helps you to stay true to yourself, your values, and empathize with your clients on a personal level. When you have experienced the same struggles they are dealing with right now, you can position yourself as an expert with products that solve the exact problems they're dealing with right now. It will help them see that a transformation is possible and you can help them bridge the gap between where they are now and where they want to be in the future.
Reason 1: You Get to Know Your Customers
When you get to know your customers, you're able to sympathize, speak to them personally, and form genuine relationships. Business is personal, and it's one of the biggest trends that influence purchasing decisions today. As a matter of fact, "80% of consumers are more likely to make a purchase when brands offer personalized experiences" (source).
Some people argue against niching down as a business owner because it limits you to new experiences and opportunities to expand your customer base. However, the numbers indicate that niche markets are equally successful. Think about brands like Lamborghini - they specifically don't market their products on television because they know their specific target audience is not sitting around watching TV.
Similarly, when you have a specific niche audience, you are able to customize your entire brand presence to these customers. For example, you'll know that your customers aren't hanging out on Facebook, are attracted to light-colored and minimalistic brands, and that they are family-oriented women. This impacts both the products you sell but also how you present them to the purchaser, helping you to increase sales and revenue. And who doesn't want that?!
Reason 2: You Can Create Solution-Based Products
The Pink Ink framework centers around solution-based products. We focus on taking the biggest problem our target audience is struggling with and create a product that will soothe their struggles. When you niche down, you can clearly create a list of pain points that are troubling your audience. Instead of reinventing the wheel every time you want to launch a new product or collection, you have a list of pain points to fall back on that you know will help improve the lives of those in your target market.
Sometimes it can feel overwhelming to come up with new product ideas and as if everyone out there has already created the ideas you have. However, creating solution-based products will help you create products with a never-before-seen approach to digital planning. Not only will you create visually appealing planners, but they will be completely functional!
Let's expand a bit more on the idea of creating collections. This is where you release a line of products with the same underlying theme. For example, perhaps you target service-based businesses with your digital planner business. You could have a collection for virtual assistants, another one for designers, and yet another for copywriters.
Creating collections and solution-based products are two of the biggest things I teach in my signature course, Digital Planner Academy. Learn more about the course here!
Reason 3: You Can Sell Products to Returning Customers
When you niche down, get to know your customers, and create solution-based products, you're setting yourself up to retain loyal customers who want to purchase from your online business again and again. Not to mention, collections are also a great way to create returning customers! Retaining customers is also a great way to run a holistic and sustainable business that doesn't sap up all your energy. Most companies agree here that retention is much cheaper than acquisition. When you know your audience and map out their customer journey ahead of time, they’ll be more likely to come back to grab your next product that solves their next problem!
One of the best (and inexpensive) ways you can do this is through email marketing. In The Pink Ink signature online course, you'll learn all about using email marketing in your business and receive the exact templates I use in my business to reach out to potential customers and retain past customers to increase sales. You can check out all the fun bonuses that come with Digital Planner Academy by clicking here!
Need Some Niche Ideas?
I have a quick and easy quiz that will help you decide on a niche for your digital planner business. Take this quick quiz to uncover the perfect planner business niche that resonates with your personality and zone of genius! You’ll finally have the clarity to stand out and launch your business to a niche that aligns with your own values.
Not only have I created a quiz to help you, but here is a list of various niches that will be perfect when starting a new business...
Service-based businesses
Mothers and/or parents
Coaches
Nutritions and dietitians
Teachers and/or students
Content creators
Travelers and/or digital nomads
Product-based businesses
Now comes the tricky part, marketing your online business and getting it in front of potential customers! You'll learn how to design an attractive planner and market your business in my course, Digital Planner Academy! This is the best self-paced online program for aspiring digital planner business owners who want to fast-track their business journey with a proven roadmap that supports you every step of the way so you never have to second-guess your strategy, product range, or designs again. Learn more here!
