Image source: http://www.pitterpattertinyfeet.co.uk/wp-content/uploads/2016/01/niche-market-image.jpg
A niche by definition, is a focused and targeted group that your products or services caters to. The mistake that many businesses make is mistaking a broad category for a niche. For example, "Women" is not a niche. "Children" is not a niche. "Women who need...." is a niche. "Children who need..." is a niche. With that in mind,can you see how much more effective it is to have a specific niche? You can speak directly to their exact wants and needs. You can describe their pain., You know them. You get them. You go directly to what's keeping them up at night. How irresistible is that?
Here's another example. Let's say that think your your niche is athletes. That's really not a niche. That's a category! What kind of sports are you offering solutions for? You can't use the same product to solve a bad golf swing and a poor batting average or a weak tennis backhand. So your niche is going to be, in this case, golfers, or baseball players or tennis enthusiasts - but not all of them! They have different pain points, needing different solutions. Speak to their specific pain,offer them specific solutions and you have their business.
Finding that niche is challenging. But once found, it is the gift that keeps on giving, Here's why.
Business is all about providing solutions. In other words, all businesses are in the "business" of pain relief for their clients. We solve their problems - the things that keep them up at night - the issues, that without us, seem insoluble. We take away their pain, their worry and get them unstuck so they can move forward, perhaps even live happily ever after.
Sometimes your niche finds you and you aren't paying attention. Go back over your list of clients and see what they mostly have in common. You might be surprised to find that you already have a niche. A client of mine who has an answering service business went back over his list and realized that a large percentage of his clients were dentists! When he began targeting dentists, specifically identifying their pain points (because he already knew what they were), he increased his business by 30%. Remember that marketing is all about the following:
1. Identify their need
2. Describe their pain
3. Offer a solution
4. Call to Action
Don't be afraid to narrow your niche. Remember, although it may seem counter intuitive, the truth is, the narrower your niche, the more money you will make. That's "niche craft", wicked niche craft, at its best.
