Many agencies are faced with this dilemma at some point in their career. On one hand, they want to define their target audience clearly, but on the other, they fear hurting their long-term growth prospectus by limiting the total addressable market.
Therefore, finding the sweet spot often entails finding niches that encourage repeat business and scale. A great way to do this is by identifying trendy emerging niches that have no signs of slowing down and directing your messaging toward that market. This can help the agency stand out from the competition, and fetch high-quality customers that are willing to pay a premium price.
As 2023 unfolds, the following are ten promising areas that agencies should consider tapping into to score new clients.
Personal Finance
All over the world, households felt the sting of increasing inflation in 2022. Less than half of Americans (45%), in the last quarter, reported having at least $1,000 in savings. More than a third (36%) reported having no savings at all, in a State of Personal Finance 2022 report.
Agencies that can effectively design mobile app solutions, websites, and platforms for personal finance companies could make recurring income with such clients. Check out brands like Acorns, a platform that lets you invest your spare change; Greenlight, a service that offers automatic allowances, budgeting, chore tracking, debit cars, and charitable giving for kids; Current, which started as an early bank account for teens; MoCaFi, a mobile-first banking platform designed for Hispanic and Black communities that have historically had less access to banking; and Klarna, a pioneer of buy now pay later.
Sustainable fashion
As consumers continue becoming more environmentally conscious, sustainable fashion is becoming a hot topic. Some of the niches include accessories and clothes produced ethically and made from eco-friendly materials. Agencies could build long-lasting relationships with brands by providing social media marketing, web design, and creative services.
Some great brands in this niche include Sotela, Pact, ETÉREA, and Dzukou. If you want to build a powerful brand for a sustainable fashion company, consider using Wix for eCommerce.
Mental health and wellness
The Covid-19 pandemic has put a spotlight on the importance of mental health and wellness. An agency that is dedicated to areas in this space, such as virtual yoga classes and online therapy sessions, is well poised for success in 2023 and beyond.
It’s worth noting that people nowadays can easily spot “fake wellness” a mile away. Ensure that you are authentically committing to the space by including mental health initiatives even within your agency, be well-versed in the lingo, understand the landscape through competitive research, and help clients become more specific with the target demographics to service their unique pain points and other needs.
Online course creators and business coaches
According to Forbes, business coaching is one rapidly expanding niche for freelancers. According to a recent survey done by Upcoach.com, 75% of all clients find their business coaches online.
An agency that designs websites for coaches offering thought leadership, blogging, social media marketing, and publishing online courses should perform better in 2023. Focusing on the individual may require a different approach compared to selling services to B2B companies. As such, you need to consider how much you need to charge every client to remain viable.
Consider going through Wix’s Online Program to create your multi-step online courses and sell them effectively.
Outdoors and travel
As the world recovers from the pandemic, consumers are eager to reconnect with nature and take on new adventures. Higher demand for activities like hiking, camping, rock climbing, and travel adventures to remote destinations has tipped tours and travel brands to shift their focus towards sustainable and authentic experiences.
While many people are still struggling to fork out the cash needed to go on such adventures, Gen Z is leading in the travel category. According to data from Trndsttrs media, more than half of Gen Z already have an international trip planned for 2023.
65% say that traveling is their most important way of spending their money. Additionally, Forbes reports that the digital nomad lifestyle has been on the rise since the start of the pandemic, which highlights the idea of servicing them with long-term Airbnb accommodations.
CBD
Still a hugely growing industry as we are seeing more liberalization of the market, CBD is a great niche to specialize in and can truly help you find a great niche to base your agency on.
CBD is very SEO heavy due to the fact advertising on social media and other forms of paid adverts is very limited. This means CBD link building can be a very lucrative business to get into and is a great idea for agencies.
Private medical practices and telehealth
The pandemic also heavily impacted hospitals and medical practices. Many ended up embracing telehealth where possible. According to an AMA Digital Health study in 2022, the number of physicians that use telehealth for virtual visits rose from 14% in 2016 to 80% in 2022.
Creative agencies can offer a wide range of services for telehealth brands, including visual identity designs, logos, and color schemes that convey the brand’s values and message. They can also develop clever advertising and marketing campaigns aimed at raising awareness of telehealth services, educating potential patients about its benefits, and helping create educational infographics, videos, and social media content to reach the target audience.
Accessibility
With the rapid rise of eCommerce and remote work, there’s a growing need for web design services aimed at users with disabilities. The Web Content Accessibility Guidelines (WCAG) and the Americans with Disabilities Act (ADA) set a standard for user accessibility on websites, and more companies are now working to ensure their sites are accessible for all users.
Website design agencies could conduct audits, implement user accessibility features, and offer guidance on how to make sites more accessible. This will make them better placed at taking advantage of this growing market.
Thanks for reading!
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