THE SECRET TO SUCCESS IN BUSINESS LIES WITHIN HOW WELL YOU KNOW YOUR NICHE MARKET.
Discovering, finding, refining and marketing to your niche market is a process. Once you do discover the people who will genuinely love your business… your true customers, it will make your entrepreneurial service much easier. This is yet another way to help restore some balance in your life!
Let’s break down the 6 step process to discover your niche market.
Step 1 – Determine: Who are you going to serve?
If you have an existing business, this is much easier to determine. A simple browse through your website analytics or social media followers lists will do the trick. If you don’t have a business, or have not had it for long, things can become a little tricky. What to do, then? Think of the people in which you would love to sell a product. Think of a specific person in your life or on social media who embodies this type of person. Create a client profile based off this person. Where do they shop now? Who do they follow on social media? What pushes them to complete a purchase? What is their daily routine? What are their struggles?
Step 2 – Determine: How are you going to serve?
This boils down to one thing; your specialty. How you will be serving your clients and/or customers? Do you have an education, apprenticeship experience or special knowledge that may be quite unique? Even good ol’ life experience counts! Apply this to your business idea! You will be amazed at how this addition to your offer or products can give you the credibility of an expert… because you are!
Step 3 – Determine: How are you unique?
Think about what you catch yourself doing for fun. What are your hobbies? Use this by applying it to your business for a unique twist only you can provide.Write down your favorite things to do getting it on paper helps your mind filter your true passions. You must learn to sub niche. Once you find your niche, you can incorporate all those topics you once loved but didn’t make it to the top priority list of what your blog niche is about and blog about them through the lens of your blog niche. Example you love fashion but you chose body image empowerment as a blog niche… Blog about how finding the right clothes for your body type will boost your body image. It’s still relevant while you fulfill your love for many things. First you must realize You’re a creative.. You see a topic and realize hey I could make something of that let me design, invent something around that topic. Your heart and mind are big enough to accommodate love for many topics and niches. This means you have amazing qualities
Step 4 – Determine: Does your niche market need it?
There is one of two paths we can take when it comes to discovering your niche market’s true needs. The first path involves asking your potential customer, “what is your struggle?” and evolve an offer around that. Second being, doing something generic that everyone else seems to be doing, A.K.A. business coaching. There are thousands of ‘business coaches’. What makes you different? I’d rather work with someone who can talk to birds than a generic ‘business coach’. Please never be ambiguous. Talk to one type of person on your website, on your social media posts, newsletters. I promise you, there will be many people who will connect to your brand and will eagerly buy from you… but only if you talk right to them. (Remember to complete the client profile I talked about in step 1!)
REAL TALK – I am sure all of us have given a speech or presentation before. You know that if the audience was not engaged with your topic, they tune out. There will be a lot of eye-rolling, zoning out and napping with their eyes open. How about now? In the era where we can create a large online presence, that same zoning out is synonymous with opting out, clicking off and tapping the ‘back‘ button. Have your refined the affect you have on your audience?
Your audience needs to immediately connect with you and what you’re offering.
You do this by talking about their pain points and how you help them overcome it.
Step 5 – Determine: Is the business worth marketing?
If your business is too “niched” there will not be enough customers who will want your offer. However, I’ve heard of people making money by simply talking about tomatoes on YouTube. I’m certain nothing can be “over-niched” if you market it correctly.
It is all a balancing act. Start with becoming known for one thing and branch off onto other related things based on your customers’ interest.
If you’re not getting much a response in your business, don’t scrap and start over immediately. You have to give it some time. It is true that marketing to less people will make you more money. Do market research and experiment to see what types of posts or email marketing encourages the most engagement.
If you go as far as building a mini course test the waters create a landing page collect emails and do some research by asking those who took your course specific questions. FYI, folks love a good survey!
Step 6 – Testing, testing, 1,2,3
I cannot stress this enough. Highly successful brands and businesses have learned to evolve. They test everything and if it does not work out, they tweak it. They might tweak their signature colors and fonts, some even change up their business vision and goals entirely… and that is okay. If we are close-minded towards change, we become stagnant. Stubborn and stagnant businesses fail. Successful brands have learned to test new offers by surveying their niche market, collecting analytics data and observing audience reaction on social media. They have learned to listen to their niche market because those are the only people they can afford to be concerned about when it comes to business.
Successful businesses know this, we should too.
However, as with everything, there’s a balance to the game. If you tweak everything too much and too often, your brand will become unrecognizable and you will loose the customer or client real quick. That’s the importance of creating with a strong brand from the start… another topic for another blog post on a Wednesday at 6am!
If you’re a visual person like me, you’re in for a treat!
NARROW YOUR NICHE – Check out the Narrow Your Niche Diagram.
Discovering your niche market is just that… discovery. It will not happen overnight but when you do determine who your ideal customer is, a part of the crazy hustle of entrepreneurship turns into a clear vision of your brand’s direction.
Be sure to comment with your thoughts.
HOW ARE YOU GOING TO DISCOVER YOUR NICHE MARKET? COMMENT BELOW!
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References – Entrepreneur.com