How To Approach Niche B2B Selling

Businesses that specialize in niche products have become increasingly more common thanks to the advancement of online commerce. While certain products may only sell to a smaller dedicated portion of the marketplace these customers are often quite valuable due to their specific product needs and customer loyalty. This is not only true of private buyers but also other businesses.

For example, Moromin.it specializes in metal accessories such as buckles, rivets, studs, snaps, and other such products. These metal accessories don’t see their true value until they are added to another product such as clothing, shoes, or accessories. They fit the definition of a niche product, however, and are very valuable to companies that need them to complete the assembly of their own more ‘common’ products. In that respect, B2B sales in niche categories can be variable but due to their nature as a specialized product, it can be hard knowing where to begin. Here is a brief overview of how to approach niche B2B sales.

How Niche Is Too Niche?

A common concern in traditional niche businesses is appealing to too small of a market segment. While niche customers are often loyal you need to have a large enough customer base to sell to. Luckily this is far less of an issue when dealing with B2B niche products. As a B2B niche seller, you can easily sustain your business on a handful of consistent clients who themselves have a steady flow of business.

In fact, depending on the size of your client businesses it is entirely possible to sustain yourself on one client provided they are large enough. One such example is a multinational company with a large client base. The key area to concern yourself with is product quality and expertise. Being an expert in your niche will allow you to do business with far larger global companies.

Being An Expert Is Valuable

Larger companies often have to concern themselves with several interconnecting factors and have a lot of different variables to keep track of. This means they lack a certain amount agility when compared to a smaller niche manufacturer or service provider. While a multinational may not have the ability to develop the niche products (or services) that go into their supply chain you do.

Something as simple as being an expert at developing a specific type of wiring can be very valuable to a company that needs that part in their finished product. Many companies do quite well supplying specific parts or services to larger clients that lack the expertise to do so in-house.

Know Your Clientele

Depending on your niche area your clientele pool may not be very large. This is not necessarily a bad thing. A client pool of only 30 companies is far easier to develop for than a pool of 30,000. By having a very specific clientele with very specific needs it becomes far easier to develop a product that meets their qualifications. Also, having a specific client pool makes it far easier to develop products due to a smaller amount of variables. This also makes research less stressful as having to keep track of the needs of 10 clients requires far less time or effort than a much larger customer base.

Focus On Quality

Lastly, when focusing on B2B niche products remember quality is your absolute focus. Remember, businesses are coming to you for that one specific product they can’t find anywhere else and need you to provide it. By presenting high-quality work you can guarantee future sales for years to come and become a known industry expert.

Published by Kidal Delonix (1198 Posts)

Kidal Delonix is a contributor to Mr. Hoffman's blog. The views and opinions are entirely his/her own and may not reflect Mr Hoffman's views.