Picture a photography enthusiast on a safari. Suddenly their jeep bounces unexpectedly, and they drop their expensive 120mm lens for their Nikon camera. It shatters. But as an enthusiast, this person is an informed customer. When a customer knows what they want and they want it fast, niche e-businesses thrive.
E-commerce is more than just taking an existing business and plopping it on the web. A truly dynamic e-business leverages the advantages of being online. When you’ve identified niche, doing business in the online space is a core strength.
Specialized storefronts may be hard to find locally. Rent can get to be a bit pricey when the business only serves a limited geographic area with a niche product. Niche e-businesses, on the other hand, are able to offer specialized products, like specific lenses, to people all around the world. An e-business may also tailor specific aspects of the shopping process (such as shipping) to the specific products offered.
Specific products also tend to come with all sorts of accessories as well. Cameras have lenses and tripods and filters and all sorts of gizmos. When a niche e-business carries these accessories, cross-selling leads to increased revenues. These peripheral items are often items that consumers need, whether the business serves passionate hobbyists or specialized B2B clients.
Enthusiast customers or people in specialized fields also like dealing with companies that know the product. For the lens example, a customer wants someone that knows the difference between a 120mm lens and a tripod. This knowledge and expertise instills confidence in the customer.
Niche e-businesses hold up well against the big boys. Finding the correct lens at an Amazon or eBay could be a crapshoot, and they’re certainly not going to offer the expertise and specialization that can come with being a master of their domain. If a customer wants a specific lens, they probably want a store that deals confidently with camera equipment all the time. They want a store that knows a scratched lens is a valid reason for return or that has downloadable PDF instruction manuals for each camera.
E-commerce also gives the niche business a perfect opportunity to flaunt their expertise with content marketing. In addition to downloadable PDF instruction manuals, blogs, whitepapers, case studies, videos, and other types of content draw in your target market. These customers are those that use search engines to find, specifically, information that is presented in your content.
Providing a specific, knowledgeable store is where niche businesses thrive in e-commerce. Without having to risk appealing to a limited market in a single shopping center, a niche business online has the reach of a thousand tiny storefronts.