Swiych,
15 mins

S011: How to Select a Niche Market for your business – with Segun Abiona

October 05, 2016
Swiych Podcast S010: Why I sell socks at Nicole and Giovanni Segun Abiona

S011: How to Select a Niche Market for your business – with Segun Abiona

In sequel to episode 10, Segun Abiona, CEO/Founder of Nicole and Giovanni Socks, sheds more light on niche marketing in Nigeria and why companies must focus on creating a forte around what they know how to do best.

Episode Takeaways

In this episode, you will learn about the following:

  • what niche marketing is about in simple terms,
  • why it is best to sell to a small range of customers despite your product’s potential appeal to a wider market range,
  • steps to take in selecting a niche market for your business,
  • how to use niche marketing as a strategy for profitability and sustainability, and
  • why he (Segun Abiona) is a die hard fan of Jose Mourinho.

Going Deep Ahead of Going Wide

How do you resist the temptation to do it all and grab all the opportunities you see? Business opportunities are abound in several parts of a sector in Nigeria, and there is always the possibility of trying to solve every problem to expand one’s revenue. Segun Abiona talks about the whole essence of niche marketing in Nigeria’s unique business atmosphere.

In addition, he explains why it is important for business to go deep and focus on strengthening their foothold in markets where they hold the biggest advantages.

How to Select a Niche Market in Nigeria

Furthermore, Segun Abiona shares with entrepreneurs steps that should be taken when deciding on the market to maximize. Using his experience at Nicole and Giovanni Socks Nigeria Ltd, Segun provides insights to help entrepreneurs decide on how to select a niche market in Nigeria

Selecting a niche for your business (Photo credit: www.vecteezy.com)
Selecting a niche for your business (Photo credit: www.vecteezy.com)

Advice on Niche Marketing

A niche market requires companies to develop product features aimed at satisfying specific market needs, as well as price range, production quality and the demographics that is intended to impact, and this considered a small market.  However, Segun Abiona elaborates on why creating a niche is a profitable decision for businesses and advices on how business can make the most of being a mainstay in a specific part of the market.

Segun and Jose Mourinho

On a lighter note, Segun talked about his admiration for Jose’s Mourinho’s philosophy and why he continues to follow him despite the fact that he no longer coaches Chelsea. Moreover, he had a few words for Arsene Wenger too.

 

In Conclusion

Finally, staying ahead in the game requires staying optimum with productivity. In light of this, the former banker talks about tools that help him remain productive and help him manage his tight schedules. He also gives his final words on Niche Marketing in Nigeria, focusing his attention on routes businesses can take to establish themselves in specific niches.

Subscribe to Swiych

iTunes
Stitcher
RSS Feeds

About Swiych

Swiych is Podlobe’s interview based channel focused on bringing you entrepreneurs, business owners, and enthusiasts, whose experience you can learn from. Hosted by Samuel Adeoye (a.k.a Se7en), Swiych is a 10-15 minute weekly podcast show.



Today's Guest

Segun Abiona is the founder and Creative Director of Nicole and Giovanni socks, a business he started from his bedroom.  Nicole and Giovanni Socks is a Nigerian brand that design and produce the best wearing socks for the African man using the highest quality yarn cutting across all men. He was formerly at Barclays Bank, London and then First City Monument Bank in Nigeria. He is passionate about football and a diehard fan of Jose Mourinho

Episode Takeaways

Episode Takeaways

In this episode, you will learn about the following:

  • what niche marketing is about in simple terms,
  • why it is best to sell to a small range of customers despite your product’s potential appeal to a wider market range,
  • steps to take in selecting a niche market for your business,
  • how to use niche marketing as a strategy for profitability and sustainability, and
  • why he (Segun Abiona) is a die hard fan of Jose Mourinho.

Bonus Track

Bonus Tracks are short cuts (1 to 5 mins long) from our interview with guest that are not included in the main podcast. We find them useful, but cannot include them in the main podcast because of our show length policy.

  • Ekundayo Babayeju

    Two important rules… and Don’t exempt GOD.

  • Awwnnnn, thank you so much Chidinma. I want you to know that your kind words are deeply appreciated. And because of people like you, we are striving for the best. God bless.

    Please, don not hesitate to criticize, suggest or advice us. The whole team will make sure it is not taken lightly.

  • IFETAYO

    WoW! Just WoW!
    Samuel, what you and your team are doing is extraordinary!
    Well done!

    • Hello Ifetayo. Hiiii! and you for checking us out. Well, we no go like fall your hand now. Lollll. Anything you think we can do even better?!

  • On a serious note, his advice about not biting more than one can chew is very important. Certainly, many persons have failed not because they were not driven or talented, but because they overstretched their resources. Now on a lighter note, I need to get to a point where I can afford to wear a ₦12,000 (only) socks

    • We use to recite “Cut your coat according to your cloth” (use to be size when we were young, or maybe we got it wrong then) when we were young, only to forget it when we need it the most, when we are now adults!

      Like you said Jonah, that point is really deep. It is as simple (yet difficult to follow by many of us) as “Spend only that which you have”. Only that, in addition, “spend what you have on that one thing that you are sure will succeed”!

  • Omoloro Fasuyi

    I’d be lying if i said I haven’t enjoyed these podcasts. Its all been so educative and i always learn something new. “find out what you can do different, not what you can do better, because someone will always outdo you”.

    • Exactly Omoloro! Those words hit me hard! I had to pause in my mind, and take it in again.

      I have used those words with some of my team mates countless number of times in trying to explain to them that we must be unique in how own way!

      In fact, we turning that into quotable quotes in our compilation. Thank you Omoloro for point this out again!

    • Againn, Awwwwnnnn, it is inspiring you know that these audio content we create are worth the while of our listeners or even more! We will keep striving for a higher standard of excellence!

Scroll to top