Market niche analysis

Do you have an exciting business idea, and are you confident in the success of your business? Then, you can get great results if you conduct a market analysis for your niche. The specialists of iPapus Agency will help you determine both the capacity and the volume of the market for new companies or organizations planning to work in a new direction.

Thanks to the research conducted by our experts, it will be possible to get answers to the following questions:

• how many customers are ready to buy the product or order the service;
• how much product is needed for one-time consumption;
• how often members of the target audience make a purchase.

All this will allow you to organize a profitable business and reduce the likelihood of loss at the initial stage.

Every business owner is confident in the chosen development strategy and expects a significant profit. But according to statistics, about 50% suffer losses due to underestimating the target audience and lack of preliminary analysis of the chosen niche. It is almost impossible to implement a business idea without primary market research.

However, studying the market’s capacity is not always enough to develop a successful marketing strategy. A comprehensive niche analysis and competitors, taking into account the market structure, price dynamics, and level of competition, allows you to get good results in the future.

To get the complete picture, you can investigate the following aspects:

• market segments (different groups of the target audience with similar characteristics and attributes);
• product demand model (how and when people make a purchase or order a service);
• competition (which companies are already working in the selected niche);
• economic conditions for development in the chosen business area.

Studying all these characteristics allows you to work out the most effective development strategy in the chosen industry.

Niche marketing

Today’s market is oversaturated with products and services. To stand out and build a profitable business, choosing your niche with a narrowly defined target audience is essential to stand out and do a good company. Our experts will help you work out a portrait of your customer, considering their behavior on the Internet and their use of specific social networks, messengers, sites, and forums.

Market niche analysis will be conducted in several stages

1. Identifying the needs of the target audience. The product must first and foremost be helpful to the customer. After determining the portrait of the target customer, it is essential to find out what problems he has to face. What is his “pain point”?
2. Identification of the depth of the market for a given target audience and its pain points. You should analyze how many people face the same problem. If there are many of them, it makes sense to promote a product. That would be a great solution.
3. Selection of tools, strategies, and user path choices to meet the target audience’s challenges. Perhaps the problem is not new and has been bothering the target group of people for a long time. It is necessary to study what solution has been used before. It is crucial to think about how the business owner can be helpful to customers at this stage and how his answer will be better than the one used before.
4. Determining the frequency of the target audience’s queries and the market’s ability to grow.It is essential to find out if there will be a need for a solution in the long term. It does not make sense to develop an area that will no longer be of interest to target customers in a few years.

The niche analysis is performed by our specialists using modern online services. In addition, we study 5-10 competitors’ sites, their pricing policy, target audience, and how to attract customers. We pay special attention to the advertising companies of our competitors. We study what audience the advertising is aimed at and what format causes the most significant interest among potential buyers.

Studying reviews on competitors’ sites is another critical step in analyzing a niche site. Accurate comments allow you to determine the strengths and weaknesses of the business area and those of the competitors. In addition, reviews show what direction you need to move to make the product more customer-oriented.

Order a niche analysis now! We will do the job with a guaranteed result – in any language for any region and subject matter. So leave a request for a free consultation now and take a step towards a profitable business!