You have probably heard the term “niche” thrown around a lot in the digital marketing space. It’s something that successful entrepreneurs and business owners acknowledge for their success, yet no one’s really giving you the information you need to know. So, you’re left still wondering what a niche is, and how you can apply It to your business.
You know that saying ‘a big fish in a little pond?’ When it comes to business success, that’s exactly who you want to be—your business is the big fish and that little pond? That’s your niche.
With your sales strategy in mind, think of it this way—the easier you are for potential customers to find and grab, the better it will be for your conversion rates and future lead generation. The less you have to go out looking for sales, the better! When you’re attracting customers TO YOU, you’re saving yourself valuable time and energy and still getting the sales number that you want to see.
So, how do you go about finding your niche? Your business will likely be able to fit under one big umbrella; maybe you’re in the tech industry, the fitness industry, the wellness industry, etc. What is key, though, is narrowing in your focus so that your business falls under a paper-cocktail-sized umbrella—one so small that there are very few other businesses who can fit under there with you.
It’s no secret that most markets are incredibly saturated. Still, that doesn’t mean you can’t find success. It’s just further proof that you need a niche. Let’s say you’re in the wellness industry, along with millions of other entrepreneurs. Hone in on your unique specialty. Are you gluten-free, vegan, living the mom-life, and helping to teach people to live a non-toxic lifestyle? Every time you can focus on those defining elements of your business, you can hone in closer and closer on your niche and target-market. This helps you understand better who you’re serving, and who you should be trying to engage with through your marketing and sales efforts.
You need to stop trying to cater to everyone. In theory, you might think that the wider you cast your net, the more likely you are to catch a good number of potential clients. It’s actually the opposite, though. If you are currently going after ANY and EVERY possible client because you want to help everyone and don’t want to leave anyone out, you will for sure end up making little money and helping very few people (if any).
If you’re still struggling to find your niche, ask yourself these questions:
- What is my closest competitor focusing in on?
- Who is my ideal client? (Get specific! Identify the type of person who needs and wants what your business offers. Write down their approximate age, gender, style, personality, likes/dislikes, current income, comfort level with investing in themselves, etc.)
- Where within my business is there an untapped market, or an unmet or underserved need?
Do you have questions about how to find your niche? I cover topics like this in my Secret Posse! Join today!