Niche markets have existed in the United States since the beginning of consumerism however it was not officially documented until 1940 when “Pepsi launched a targeted Campaign” that yielded valuable results. Many small businesses have grown and prospered within niches. As a point of information small business in America is defined as those employing less than 500; many of us spend our entire careers in this area. The niches that I am speaking of are much smaller and more like the offerings of the five and dimes and mail order catalogs of years ago. It is without doubt that e-commerce has affected traditional Brick and Mortar establishments. Those of us who would peruse the isles of five and dimes or the pages of specialty catalogers can search the internet to satisfy our needs. Those consumers who were never exposed to five and dimes or catalogers naturally embrace the internet whatever their need.
With that in mind let’s look at this from another side; you’re an entrepreneur with a new or unique item you are no longer limited by location. You can offer your very special item to a targeted group; you don’t need a physical store or any other product to lure shoppers in. If you happen to have established a niche business in a traditional format you can explore new horizons by tapping into e-commerce. All business’s rely on need or want to create the sale; and availability of product, delivery, customer service and retention for them to succeed. Developing a niche business cuts your available customer base tremendously from a general market promoter, be careful to satisfy and grow the needs of that niche to maximize your sales opportunities. Never stop looking for new products, applications, and industry developments. Many niches have a short lifespan take advantage of them as you would a short-term investment. Discovering a niche is like a prospector finding gold, remember there are always claim jumpers out there so protect your claim and work it.
Consumerism has been part of America’s lifestyle since the early 1800’s; the beginnings of e-commerce In the 1970’s, Pea pod 1989, Yahoo 1994, Amazon 1995, Google 1998, PayPal 1998, e-bay 1999, iTunes 2003, PCI security standards 2004, YouTube 2005, I Phone 2007 have led to the explosion of e-commerce and the merging of social media, traditional media, into the omni-channel marketing of today.
Case study: In 2008 Cow Performance Company was born and from deep within its barn doors came two niche product lines; three aerosol products and three sizes of magnetic assembly mats. The target audience was the RC car hobbyist. The company was started with minimal investment, it focused on good business practices, used social media, event sponsorship as its promotional tools. Today Cow Performance is the go to for magnetic assembly mats and RC maintenance. Over one hundred product offerings are in-stock and the orders are shipped next day throughout the entire United States. In 2015 this niche business became the full-time endeavor of its owner. “I have been involved with this company since inception and as an advertising and marketing professional can say with confidence this could not have been accomplished in the marketplace that existed before 2008 ”.
If you are a sales professional interested in developing new markets please contact: alan b. meschkow, Cow performance Company VP of Operations & New Market Development email@example.com or firstname.lastname@example.org me on: