Why You Should Niche Down In Your Business
Are you trying to serve everyone in your business but ultimately serving no one?
When I started my marketing agency 17 years ago I thought serving everyone would keep me in a constant stream of business, however, what it actually did was slow my growth because not only was I having to learn about a new industry each time but I also wasn’t attracting a specific type of client and therefore never becoming known as an expert in my field.
I had no idea that clarifying my niche and getting really specific about what I did and who I did it for would actually move me forward!
So What Exactly Is A Niche?
In simple terms, it is a narrow and focused target industry or audience that you serve. It is small and specific. In fact, the smaller and more specific the niche the more successful one can be.
This may seem counterintuitive to most.
How can narrowing the audience I serve help me to be more successful?
Niching down has so many benefits to your business. Here are just a few:
- You will become known as an industry leader and people will associate your name with a specific industry or audience.
- It limits competition. When you become known as the “go-to” person in a specific field it becomes very difficult to compete with.
- When you narrow down the audience you serve your marketing becomes so much easier. You can target your exact ideal customer in the niche that you serve versus trying to market to everyone
- You will improve your online visibility. By focusing on a particular niche your search engine optimization will become easier. You will rank for keywords and show up online as a match for someone who is searching for what you do or sell.
- It will help you establish a network. As you become known as a leader in your industry you will find that colleagues and clients will automatically think of you when asked by a friend or co-worker if they know of someone who does what you do. You will always be top of mind.
- You will build a loyal fan base. When you are good at what you do your customers will be happy and often be repeat buyers. When customers like something they are more likely to share with friends who will then become future customers.
- Marketing & messaging will become easier. When you serve only one type of audience you become very aware of their likes, dislikes, needs, etc and can target your marketing messages directly to that audience. It is so much easier than trying to create content that appeals to everyone.
How To Define Your Business Niche
While niching down can seem difficult, it doesn’t have to be and it can be as simple as asking yourself a few questions and doing a bit of research.
- What are you passionate about? If you have an interest in the field you are working in then it will make your work a lot more fun. Having a passion for what you do will cause you to light up when you work and that passion will shine through in your interactions with customers and clients.
- Is there a certain kind of audience you like to work with such as women, teens, moms, couples, or retired veterans? Narrow down who you enjoy working with.
- Ask yourself is there a demand for what I am selling to this market? Do some research and look to see what the competition is in your proposed niche. If there is some competition that is a good thing. It means there is demand for your product or service.
When I work with clients to niche down in their industry they often question my sanity, lol but once they find their niche and stick with it they see just how much faster they are able to scale their business and see success.
Is nailing your niche something that would help you be more successful in your business?
If you have been struggling to define your niche or narrow the target market you are currently in then check out my signature program The Client Accelerator.
In this group coaching program, we cover everything from choosing a business niche and creating a transformative offer that will have clients lined up to work with you. You can see all of the details here!