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Boutique Chat

Five Minute Friday: The Riches are in The Niches

Boutique Chat

Ashley Alderson

Business, Marketing, Retail, Boutiquetips, Fashionindustry, Fashionbusiness, Entrepreneurship, Businessstrategy

5853 Ratings

🗓️ 3 May 2024

⏱️ 5 minutes

🧾️ Download transcript

Summary

What is the secret to setting your business apart? Figure out your niche and connect with those people! Listen in learn how to speak—and stand out—to your ideal customer.

Resources:

Join The Boutique Hub Community

Transcript

Click on a timestamp to play from that location

0:00.0

Business can be a lonely game, but it doesn't have to be.

0:09.0

Welcome to Boutique Chat, where we explore community over competition and how to scale your company with the balance and the happiness that we all seek.

0:16.0

We'll hear from product-based businesses of all types, retailers, e-commerce, and wholesale brands,

0:21.7

along with industry experts shaping the future of our industry.

0:25.0

I'm your host, Ashley Alderson from the boutique hub, and I can't wait to chat.

0:33.7

Hey, guys, welcome back to Five Minute Friday.

0:36.5

And I am so passionate about today's topic, and

0:40.8

that is that the riches are in the niches. And I feel like I've learned this firsthand, even

0:46.2

from our business at the boutique hub. It's a very specific industry and a very specific customer.

0:52.6

And as I look across the boutique and retail industry, specialty retail as a whole, I see

0:58.2

the same opportunity and the same success stories from you and your businesses.

1:03.3

The businesses that are most successful have truly identified who their customer is and

1:08.1

the very specific niche that they serve. Is it niche? Is it niche?

1:12.8

How do you say it? I feel like the verdict's out. Let's run an Instagram poll. We're going to find

1:16.4

out what you guys think. Regardless, what I mean by this is when I look across the industry and I

1:21.7

see someone telling me that they're an online trendy, affordable boutique, an online trendy affordable boutique.

1:27.4

Well, so is Sheen and so is

1:30.1

T-Mu. And so if that's who you want to be, it's very broad, it's very general, and you're going to be

1:35.8

competing with some of the largest websites in the world for that audience. And so how could you

1:41.6

really set yourself apart? How do you make sure that you are reaching into the

1:45.4

niches that you serve to set yourself apart and to be different? Well, you've got to dig into who

1:50.4

is your customer and what is your customer's biggest problem? What's the biggest migraine headache

...

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