**Comparative Table: General Niches vs Specific Niches** Below is the HTML code for a comparative table that contrasts **General (Broad) Niches** with **Specific (Narrow) Niches**, based on the information from the article. The table highlights differences in marketing costs, customer engagement, competition level, and more. ```html
Aspect | General (Broad) Niches | Specific (Narrow) Niches |
---|---|---|
Marketing Costs | Higher marketing costs due to a broad target audience. | Up to 50% lower marketing costs by targeting a specific audience. |
Customer Engagement | Lower customer engagement rates. | Increase customer engagement by 70%. |
Competition Level | High competition in saturated markets. | Less competition, facing up to 70% less competition. |
Customer Loyalty | Lower customer loyalty due to lack of specialization. | Boost customer loyalty by 60% through specialization. |
Market Positioning | Positioned as a generalist trying to appeal to everyone. | Positioned as an expert in a specific area. |
Examples | General e-commerce, social media platforms. | "Yoga for Lower Back Pain", "Plant-Based Nutrition". |
Growth Potential | Slower growth due to market saturation. | High growth potential in emerging sectors (e.g., fintech projected to grow by 23% by 2025). |
Authenticity and Passion | Harder to convey authenticity; may lead to burnout. | Aligns with personal expertise; 45% of successful entrepreneurs are passionate about their niche. |
Market Saturation | Highly saturated; difficult to stand out among 24 million e-commerce websites. | Emerging markets less saturated; opportunities to become a market leader. |
Advertising Spend | Requires more advertising spend to reach a broad audience. | More efficient ad spend by targeting niche audiences. |