If you want a case study in defining your niche, look no further than Oxygen. It’s a FinTech company targeting freelancers and gig workers underserved by other financial institutions. Every piece of their marketing makes it clear – we serve non-traditional workers.
If you want to grow, your credit union or community bank needs to copy Oxygen and refine your niches.
But niches are complex – complex to narrow down, complex to understand and complex to expand. Where do you even start? Let’s walk through the essentials of refining and defining your niche.
Narrow Down Your Niches
When targeting consumers, it’s tempting to go more wide than deep. That means you target everyone rather than mining a couple exclusive demographics. The logic behind this strategy makes enough sense – everyone needs loans, so why not market to everyone?
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