Importance of Niche in Business Strategy

For the last 3 months, I have chatted with a different leader who is running a HubSpot solutions partner every week. I've asked them the same questions. What do you wish you did earlier? And they all say the same things: "I wish I niched faster." It's odd how it works. Constraints on a business actually "unlocks" rather than restrict. Here is why it works: 1. Expertise Development: Specializing allows a company to develop deep knowledge and skills in a specific area, enhancing the quality and effectiveness of its services. This is a double dose of goodness - because it helps train and attract new talent as well. 2. Targeted Marketing: A niche focus enables more precise marketing efforts, making it easier to connect with and attract the ideal customer base. Don't sleep on this. When you aren't everything to everybody, you get to be someone to somebody. Solve a clear pain and do it well. 3. Reduced Competition: By serving a specific segment, companies face less competition and can dominate smaller markets more effectively. Said another way, be known for 1 thing. Be the best at that 1 thing. 4. Increased Customer Loyalty: Specializing helps in understanding and meeting the unique needs of a particular group, fostering stronger customer relationships and loyalty. You can start building "systems" or "IP" around pain points in your niche. 5. Operational Efficiency: Focusing on a niche streamlines operations and resource allocation, enhancing efficiency and potentially increasing profitability. In other words, you can give more value faster. Now niching isn't just "industry" specific. You can solve function specific or combine the two. Example: 1) Best service company at HubSpot to Salesforce Sync 2) Best service company at HubSpot to Netsuite sync for industrial 3) Best service company for running outbound plays for Saas In Hubspot. 4) Best service company for HubSpot + [enter industry or function] Go all in. You won't regret it. Stay awesome -Matt

In my years as a cosmetic chemist, I've seen indie beauty brands rise and fall. The ones that thrive? They always have one thing in common: niche products. In an industry flooded with options, it’s easy to get lost in the noise. But when you zoom in on a specific problem or need and offer a tailored solution, you stand out. So, why should indie brands lean into niche products? 1. Fewer Competitors, More Opportunities Here’s the thing: big beauty companies can’t afford to focus on a small segment of the market. They want products that appeal to everyone. Indie brands? They have the freedom to specialize. Focusing on a niche means fewer competitors, less clutter, and the chance to become an expert in a particular area. 2. Building a Tribe of Loyal Customers When you target a niche, you’re not just selling products; you're solving real problems. Whether it's a vegan serum for sensitive skin or a probiotic-infused moisturizer, your products speak directly to a community. And this community? They’re loyal. They trust you because you understand their needs and values. 3. Greater Impact with Innovation Niche doesn’t mean small—it means impactful. You can experiment and innovate in ways larger companies can’t. From unique ingredient combinations to specialized delivery systems, the possibilities are endless when you’re focused on solving a specific issue. And guess what? This is where you make a real difference. How to Find Your Niche -Look for Unmet Needs: What’s missing in the market? Whether it’s a new ingredient or a product that simply isn’t being done right, find the gap and fill it. -Be Authentic: Choose a niche that aligns with your values and expertise. It’s easier to connect with customers when you’re passionate about what you’re offering. -Focus on Quality: When you’re catering to a specific group, you need to make sure your product delivers. Customers in niche markets expect performance, so make sure your products live up to the hype. In the ever-changing beauty landscape, niche products are a powerful tool for indie brands. They offer you the chance to create something unique, connect deeply with your audience, and stand out in a crowded market. So, don’t be afraid to sharpen your focus, that’s where the magic happens. If you need help with your formulations, testings, packaging, market research, or navigating regulations, just reach out to me. My team and I are here to guide you every step of the way and help bring your product ideas to life! #IndieBeauty #CosmeticChemistry #NicheMarket #BrandStrategy #FormulationConsulting

I’m a firm believer that the riches are in the niches. B2B service providers: do your prospects understand your niche? Can they immediately tell if your services are right for them just by looking at your website? (Or better yet- can they tell if you are NOT for them?) I’ve looked at thousands of B2B websites in my career. Mediocre sites use headlines like “#1 Global Digital Marketing Agency” or “Work Smarter and Grow Faster with XYZ Company.” But the best B2B websites make it immediately clear whether this is a product or service that is uniquely positioned to help my specific business challenge. If you don’t have a clear ICP and target niche defined for your firm, here are four ways you can better clarify your positioning and stand out from competitors to win more business: 🏭 Industry Expertise 🧑💻 Technical Focus Area 📈 Client Company Size or Growth Stage 🌎 Geographies Served You may fear that by choosing to specialize, you’re limiting your potential reach and client base. But choosing to serve everyone is the same as choosing to serve nobody in particular, and that's never a winning marketing strategy. Companies that define their unique expertise and point of view of how they serve their niche not only attract more of their ideal clients, but they win deals at a much higher rate because they immediately stand out from the consideration set as the "perfect fit." Pro tip: Service providers who select 2 or more and combine these differentiators (think TikTok Influencer Marketing for B2B SaaS Companies, or Wix Web Designer for Local Dentists) have a significantly better track record at building a name for themselves, especially when just starting out. As they begin to work with more clients and scale, then they might drop one of their niches (like social media marketing for B2B rather than just TikTok), or choose another niche to continue to expand into new markets (like Web Design + Local SEO for Dentists). #B2BServices Firms: Have you found success by refining your niche? I'd love to hear what's worked and what hasn't.

Too many businesses make the mistake of trying to appeal to 𝘦𝘷𝘦𝘳𝘺𝘰𝘯𝘦—and end up connecting with 𝘯𝘰 𝘰𝘯𝘦. Businesses that start with a clear niche gain traction faster, build brand authority, and create real momentum before expanding into broader markets. I’ve seen this firsthand in music, tech and cannabis. I am launching a wellness platform for a deeply engaged audience: Gamers. We are aligning with their needs, leveraging existing gaming communities and influencers, and creating packages designed specifically for them. Here’s why this works: ✅ 𝗘𝗻𝗴𝗮𝗴𝗲𝗱 𝗔𝘂𝗱𝗶𝗲𝗻𝗰𝗲𝘀 = 𝗙𝗮𝘀𝘁𝗲𝗿 𝗚𝗿𝗼𝘄𝘁𝗵   Gamers are already online, passionate, and looking for ways to optimize their performance and well-being. By meeting them where they are, we don’t have to fight for their attention—we just have to deliver value. ✅ 𝗟𝗲𝘃𝗲𝗿𝗮𝗴𝗶𝗻𝗴 𝗘𝘀𝘁𝗮𝗯𝗹𝗶𝘀𝗵𝗲𝗱 𝗣𝗹𝗮𝘁𝗳𝗼𝗿𝗺𝘀   Rather than building from scratch, I’m tapping into a 𝗰𝗿𝗲𝗮𝘁𝗼𝗿 𝗽𝗹𝗮𝘁𝗳𝗼𝗿𝗺 𝗮𝗻𝗱 𝗻𝗲𝘁𝘄𝗼𝗿𝗸 𝗼𝗳 𝗴𝗮𝗺𝗶𝗻𝗴 𝗶𝗻𝗳𝗹𝘂𝗲𝗻𝗰𝗲𝗿𝘀. This allows for rapid adoption and organic credibility within the community. ✅ 𝗡𝗶𝗰𝗵𝗲 𝗣𝗼𝘀𝗶𝘁𝗶𝗼𝗻𝗶𝗻𝗴 𝗕𝘂𝗶𝗹𝗱𝘀 𝗕𝗿𝗮𝗻𝗱 𝗔𝘂𝘁𝗵𝗼𝗿𝗶𝘁𝘆   When you solve a specific problem for a defined audience, you become the go-to brand in that space. Master your niche first, and expansion becomes much easier. This is a playbook that works across industries. Whether it’s wellness, tech, or consumer goods, the fastest way to scale is 𝘀𝘁𝗮𝗿𝘁𝗶𝗻𝗴 𝗻𝗮𝗿𝗿𝗼𝘄, 𝘄𝗶𝗻𝗻𝗶𝗻𝗴 𝘁𝗿𝘂𝘀𝘁, 𝗮𝗻𝗱 𝗲𝘅𝗽𝗮𝗻𝗱𝗶𝗻𝗴 𝗼𝘂𝘁𝘄𝗮𝗿𝗱. Who is your niche audience? Are you serving their specific needs—or trying to reach too many people at once? #scalingwellness

Agencies pushing broad, generic end-to-end capabilities are struggling mighty hard if not dying or dead. We’ve entered the era of niche specialization—and it’s the key to stronger growth. Consider that total revenue growth for the 30 largest agency companies worldwide slowed from 5.6% in 2023 to a projected 2-3% in 2024. The five biggest legacy firms saw organic revenue growth plummet from 7.5% in 2022 to just 1.3% in 2023 - an 83% drop in one year. The days of trying to be everything to everyone are over. The market doesn’t want broad, generic agencies or services that check all the boxes but don’t excel in any. What I believe buyers want—what CMOs need—are specialists. Companies that own their space, that have deep expertise in a singular focus and deliver consistent, high-impact results. But here’s the kicker: so many agencies and firms are still chasing the "end-to-end" dream. They’re trying to grow by expanding their capabilities, offering the widest menu possible, thinking it will attract more business. But all it does is dilute their value proposition, and it’s killing growth. The power of niche is real, and it’s redefining what it means to grow in this market. IMHO, here is why you should consider a niche growth strategy: $$ When you’re hyper-focused on what you do best, your clients understand your value immediately. You’re not just another player; you’re the go-to expert. $$ $$ Expertise in one area far outshines shallow capabilities across the board. Specialists get the call when a company wants the best. $$ $$ With a niche focus, your team isn’t stretched thin trying to do everything. They’re building expertise, refining processes, and driving real results in their core space. $$ This isn’t just theory. Clients today are no longer chasing broad solutions—they want the best solution for their specific needs. So, if you’re still trying to grow by being everything to everyone, it’s time to rethink that strategy. Find your niche and own it. That’s where growth is now. That’s where the future is headed. SoulPurposeAdvisory is a partnership-oriented growth advisory helping you achieve your ambitions in a tough market. Hit me up: matt@soulpurposeadvisory.com #newbusiness #nichemarketing #advertising

One of the biggest mistakes I’ve made as an entrepreneur and salesperson? Trying to appeal to everyone. Trying to sell to everyone. Now I go all-in on: 🚀 the riches are in the niches 🔥 When you go niche, you can create unmatched value for your specific audience. When you niche down, the results can be massive. Here are 5 SaaS companies that went super niche and turned their deep niche focus into gold: 1. Shopify Niche: Empowering small and medium-sized e-commerce businesses. Revenue: $5.6 Billion (2023) By focusing on small businesses looking for an easy way to sell online, Shopify became the go-to platform for e-commerce. They started niche and scaled from there. 2. Toast Niche: Restaurants needing POS (Point of Sale) systems. Revenue: $1 Billion+ (2023) Toast didn’t try to cater to every business—they laser-focused on restaurants and built custom features for the food industry. Now they dominate the restaurant tech space. 3. Procore Niche: Construction project management software. Revenue: $720 Million (2023) Procore didn’t chase the broader project management market; they zeroed in on construction firms and solved their unique pain points, building a billion-dollar company. 4. Veeva Systems Niche: Cloud-based solutions for the life sciences industry. Revenue: $2.2 Billion (2023) Instead of competing in the general CRM space, Veeva specialized in pharma and biotech, becoming the dominant player in their niche. 5. ServiceTitan Niche: Home service businesses (plumbers, electricians, HVAC). Revenue: $250 Million+ (2023) By creating software tailored to the unique workflows of home service providers, ServiceTitan became the go-to solution for a traditionally underserved market. The Lesson? The narrower your niche, the deeper your impact. Start by solving one specific problem better than anyone else. Once you own your niche, the opportunities to scale will come. What niche are you targeting? Comment below. I’d love to hear your story. 👇 #sales #entrepreneurship #growth

Still trying to serve everyone? It’s time to narrow your focus. I’ll never forget the story of a client who was struggling to stand out. They were offering “everything” to “everyone.” No clear direction. No identity. They were spreading themselves too thin and not getting the traction they desired. Then, they made a bold move, They narrowed their focus to one specific niche: Coaching high-level executives in tech. The results were nothing short of transformational. Here’s why niching down can be a game-changer: ✅ You become an expert in a specific area. When you specialize, your audience sees you as the go-to person for that particular need. ✅ It builds trust faster. People want to work with experts who understand their unique challenges. A niche helps you connect with them on a deeper level. ✅ It attracts better clients. By honing in on your niche, you attract individuals or businesses who need what you offer and are willing to pay for it. Narrowing your focus doesn’t limit you, It actually opens up new opportunities. When you focus on serving a specific audience, You can give them the best experience and skyrocket your growth. PS. Comment below for my 'Niche Clarity Framework' document! #Entrepreneur #NicheClarity

ARCHITECTS’ REALITY CHECK "When you appeal to anyone, you'll reach no one." I’m currently testing more than 10,000 architecture firm websites, here are the key mistakes I see firms make again and again: • Showcasing every project they've ever done • Websites that read like grocery lists of capabilities • Portfolios that scream "We do it all!" • Generic messaging that could apply to any firm What do successful firms do differently? • They own their specialty or niche • They are seen as experts in solving specific problems • They attract clients who value their expertise • They command higher fees Real example: one of our clients made the choice to focus on a specific target client and range of projects: • They went from 500 “any-queries” per year to about 30 inquiries from great fit prospects • Their close rate skyrocketed • They found more time for family & friends from not chasing so many opportunities Ask yourself this: If you needed heart surgery, would you look for a general practitioner... or a cardiac specialist? And you would expect the specialist to cost much more. Your architecture firm faces a choice: Be everything to everyone, or be THE perfect solution for the right clients. But realize this, specializing isn’t he risky move. The risky move is trying to be competitive with all of the other firms in the "we do everything" space. What's your firm's specialty? Or what could it be? Share in the comments below. And DM me if you need help defining your niche. #ArchitectureBusiness #NicheMarketing #ArchitectureMarketing #BusinessStrategy

Let's explore a crucial distinction: the battle between generalists and specialists. It's time to unravel the secret behind why specialists tend to earn more than their generalist counterparts, with a shining example from the medical industry. So, buckle up and prepare to discover why, in the realm of business, "the riches are in the niches." Let's talk numbers, shall we? According to a plethora of data, specialists in various fields, including medicine, consistently earn higher incomes than generalists. Take the medical industry, for instance. Doctors who choose to specialize in a specific area of medicine, like neurology or cardiology, often find themselves in high demand, commanding hefty salaries. These specialists invest significant time and effort honing their skills and knowledge, ultimately becoming masters of their chosen niche. But why exactly do specialists earn more? Well, it all comes down to supply and demand, my friends. When you become a specialist, you position yourself as an expert in a particular domain, setting yourself apart from the generalists who offer a broader range of services. This specialization grants you a unique advantage—scarce expertise in a specific area. And guess what? Scarcity breeds demand, and demand, my friends, breeds higher compensation. In the business world, this phenomenon holds true across various sectors. Whether you're in tech, finance, or even the arts, the principle remains the same. Think about it—let's say you're a business consultant. As a generalist, you may offer advice on a wide range of business topics, but you're competing against countless other generalists in the market. Now, let's flip the script. If you specialize in a niche area, such as marketing strategies for e-commerce businesses targeting Generation Z, suddenly, you become a coveted resource. Companies seeking precisely that expertise will be willing to pay a premium for your services. In the immortal words of the legendary entrepreneur and investor, Warren Buffett, "Find your niche, and you can get rich." And he's absolutely right. When you focus your energy on a specialized area, you become the go-to person—the authority. So, the bottom line is this: in the vast and ever-evolving world of business, specialists have a significant advantage over generalists. By narrowing their focus, acquiring in-depth knowledge, and becoming the masters of their chosen niches, specialists position themselves for greater success and higher financial rewards. So, if you're aiming to make it big, remember, the riches truly are in the niches.

Niching down will change the way your business does almost everything. Start by narrowing your focus onto one specific industry or vertical (even job title) — not widening it. (Ok ok, for those of you with customers in 5+ industries, just shift your NEW CUSTOMER ACQUISITION strategy at a minimum - every 6 mos, you can replicate a working growth system to another industry) Vern Harnish (Author of Scaling Up -- HIGHLY RECOMMEND) calls it hyper-specialization. It’s how scaling companies pull away from the pack. When you niche down, these things start happening across your org: - Positioning and messaging finally resonate — because it’s laser-focused. - Your ads and content investments zero in on the exact people you want to attract. - Your costly events are in that space and ONLY in that space. - Reps stop guessing and start sounding like insiders. They speak the language. They know the pain points. - Your case studies and logos actually mean something to buyers because they are just like them. - Your product roadmap and delivery team sharpen — because they’re solving for one clear type of customer and set of needs over and over. - Playbooks, objection handling, discovery questions — all tailored. - Battlecards and comparison actually help buyers decide — because they highlight differences that matter in their market. (Just think about it: competitors are different in each market!) The results? - There's less convincing that has to be done. CAC drops and velocity increases. ROI jumps. - Deal size increases through targeted upsells. - Margin increases - your delivery teams aren't stretched thin, they're getting better every time. - You can charge more — because you’re building for them, not just anyone. - Sales, marketing, and ops all get simpler and more effective — because you’re not stretching across five buyer types. - Feedback loops get tighter, enablement gets easier, and your whole team works smarter. Niching down isn’t a constraint. It’s a growth lever. And it’s one of the first moves Swivel helps teams make. #salesenablement #sales #b2b