Niche markets almost always develop out of an unmet need. You start by finding people’s pain points — either in their personal or professional lives — then dream up ways to solve those problems.
That’s exactly what HotelTonight did when it saw the need for last-minute hotel bookings via mobile devices. In three taps, users can find deals and book rooms anywhere at any time. The whole process takes 10 seconds. And as a mobile-only platform, hotels can offer exclusive deals that aren’t available online.
But filling an unmet need isn’t the only lesson niche marketplaces can lend the business world.