1. Find your niche
To create trust, it’s important you prove that you know your stuff. The easiest way to do this as an SMB is to find your niche and focus on what you are good at. If you do something you believe in and feel passionate about, your energy and efforts will pay off and customers will feel inspired.
Focusing on too many products with limited resources and knowledge makes everything more unmanageable and distorts your vision.
"A jack of all trades is a master of none."
Think about the best kind of restaurants — they are always the ones with limited choice on the menu since it’s impossible to produce good-quality without specialization.
Specialize and you will be able to deliver — take too much on and you will most likely hinder productivity and lose against your competition.
With specialization, you can easily create a unique brand personality and win on content marketing by delivering personalized messages which resonate with your target audience.
Source: Bombas — the performance sock specialist
Although Amazon’s momentous success is mainly down to its huge product assortment — even they started off specializing in only books, taking the strategic decision to expand to other products in 2000.
Even though Amazon has the money to make a large product assortment work effectively, customers are still not 100% satisfied. Users are becoming easily frustrated and impatient by having to trawl through so many products and it’s simply leaving them confused as to which product to buy.
Thanks to excellent user-experience, Amazon scored a 13% conversion rate when getting users to the checkout in 2019.