Is there value in targeting a ‘niche’ instead of ‘anyone and everyone’?

Well, if a 2008 college drop-out can start a firm that caters to ‘moms’ who want / need financial advice and last month raised $19 million to help it launch a round of new products, then . . . YES!  Yes, finding a niche seems like a damned good if not a great idea.

Started by Alexa von Tobel, LearnVest is an online site that caters to the unique needs of women to learn and practice financial principles for the good of their family and themselves.

Alexa’s choice of a well-defined, geographically-diverse and significantly-sized market segment is brilliant.  The fact that many companies and financial planners are not already targeting this rather significant group of household decision-makers is rather surprising!

Providing an easily accessed, women-centric version of financial education through a variety of highly interactive tutorials, checklists and other tools in a ‘cozy yet professional’ website seems to have been a smart way to differentiate LearnVest from the myriad groups of planners who all seem rather vanilla to most of us.

KEY POINT:
Finding a niche that needs what you offer and others aren’t = Ka-Ching!