In business, you’ll often hear people stating that industries are becoming saturated and becoming one of the successful companies is getting harder to achieve every day. Although there is some validity to some of this, there are many businesses who are proving themselves to be market leaders within their niches.
Check out this list below if you’re wondering how these companies have reached small business success.
1. Trader Joe’s
Trader Joe’s came on the scene and seemed like it would be in direct competition with the heavy-hitter health market, Whole Foods. However, Trader Joe’s has made its own name in the health food market game by continuously delivering quality products and amazing customer service.
Although there are some healthier markets that have larger selections than Trader Joe’s, the pricing of their organic and all natural-products make up for the size. And, honestly, having a smaller selection of products has seemed to work to their advantage.
And anyone who’s ever walked into a Trader Joe’s at a tighter location knows that the lines can often be long but they tend to only higher the fastest cashiers in the world. Great products, approachable customer services, and quick trips equal a win for them.
Uber came on the scene and disrupted the taxi industry. Now the app has at least 40 million users signed up for their services. Uber won people over by giving them the convenience of calling for a quick ride right from their phone screen. They took it a step further by making sure payments are easily handled prior to riding and tracking the estimated arrival of your drivers via the app’s internal map.
Uber took the frustration of having to chase down a taxi driver on the streets on wait for extended periods of time and turned it into a solution for digital commuters everywhere.
LUSH makes self-care look, smell and feel good. This bath and skin care company was founded in 1995 in the UK but started to take the states by storm within the past decade. LUSH has mastered its branding through unique packaging and products that create an amazing at-home experience for customers.
LUSH also offers great hands-on experiences for customers in stores as well. Sales associates assist customers with understanding the products through live demonstrations and samples of the merchandise. LUSH is turning heads by keeping their marketing image clean. Literally.
4. The Container Store
The Container Store gets straight to the point in their title. But their marketing really hits home for customers. The store prides itself on selling space, not containers. The Container Store has mastered speaking to its audience’s pain point perfectly.
The company has also made themselves appealing to customers by selling something as mundane as storage units in a stylish fashion. Who knew shopping for plastic boxes with lids would ever be satisfying?
5. Grace & Lace
Grace and Lace is an Austin-based sock and leg warmer company. They had average small business success before they snagged a deal on Shark Tank with Barbara Corcoran. Now the company has done well over 14 million dollars in sales since airing on the show.
The niche business idea initially began from the owner’s need to comfort herself in the hospital after a tragic pregnancy resulting in the death of her infant daughter. She began knitting blankets and leg warmers and was asked by others to make these items for them.
Grace and Lace have torpedoed themselves to the top with other successful companies through building a cozy relationship with their audience via social media. They showed the potential in catering to the DIY industry and those who love hand-crafted goods with personalized and original twists. Grace and Lace have now expanded to a full women’s apparel company.
6. Dollar Shave Club
The Dollar Shave Club took a classic business model and turned it into a successful company. The company is structured as a subscription box that primarily caters to men. They send razors and other men’s grooming goods for customers to try a few times out of the year.
This club wins customers by saving time from frequent drugstore visits for shaving tools and making the purchasing process very easy. They give customers free range on the frequency of delivery, preferred products, and contract terms.
7. The Lipbar
The Lipbar was one of the Shark Tank ventures that did not get a deal. The founder, Melissa Butler, was denied by all the investors in the tank and was even insulted by one referring to her business as “colorful cockroaches”. This didn’t stop Butler from building a brand that’s taking social media and retail stores by storm today.
The Lipbar went on to join the list of successful companies by building a following of over 100k Instagram followers and is now carried in multiple big name stores, including Target. This brand wins over customers’ hearts by showcasing their bold, vibrant colors in aesthetically pleasing ways across social media. They’ve tapped into marketing in the name of inclusion, diversity, and self-confidence.
The company also knows how to interact with their customers well and stays current on pop trends to incorporate in their marketing.
8. Industrial Polymer Corporation
Industrial Polymer Corporation has made a way by serving other businesses. They provide solutions for products, manufacturing services, and other services with their in-house industrial polymers. The company has prided itself on being a great resource for a variety of industries, including automotive and military.
The ended up amongst the successful companies because they are helping other businesses succeed while delivering quality services and products in a complex niche business. They show how science can be leveraged by many.
Lululemon is amongst many other successful companies in fitness because of their spot-on marketing to the right audience. The company started as a niche business selling mainly leggings and other fitness wear. Lululemon was able to create a profitable business by incorporating the health and fitness lifestyle in their campaigning. They succeeded by building a strong community around their brand.
10. Blue Apron
Blue Apron is another health company that supports the lifestyle of better living. The company sends ready-to-make meals out to customers with full instructions for recipes and portions. It saves people timely trips to the supermarket and the frustration of figuring out what to eat when they’re trying to stick to a healthier diet.
The company markets itself as a personal chef service and everyone wants a personal chef.
Learn from the Successful Companies
There have been plenty of market leaders to prove that it is possible to run successful companies if customers receive solutions and marketing speaks to the audience appropriately. These companies mentioned are few out of many who have dominated their niche markets.