“Niche for the win” is my mantra. A niche approach is not a brick wall closing you in and shutting out the rest of the world it is a powerful approach to become a bigger fish in your chosen pond. Surely that is a much better gig than talking to your whole world and hoping to catch a few bites.
Looking at your whole world and carving it up into different niches or segments to focus on which are small enough to reach but big enough to serve you is the way to go. What do you do then? Simple, you go and become the expert in that niche. You find everything out about that segment (s) you have picked so you can almost write down the conversation that your client is having in their head. You show you understand where they are at so that by nature of the fact that you understand their problem it stands to reason that they assume you know the solution. Voila, you now have the opportunity to show them what they need. Here are some of the benefits of nailing your niche:
- Standing for something and being different helps avoid the whole no go area of competing on price which is what happens when you remain comparable. What do you replace that whole price competition with? Your extra value propositions, your knowledge, trust, connectedness, expertise, ability to save client money.
- Ultimately it will banish the dreaded question of “tell me how you compare with XYZ (insert competitor here)” or if a potential client insists on asking it you will have plenty of reasons for showing how different and world beating you are.
- To aim for 1% of a huge market is not a niche or even a recommended strategy. It is winging it as you are still have to use huge amount of energy to communicate with the whole market in order to grab a tiny bit of it. You don’t need everyone to want you or know about you just need enough business’ in your segment to want you. Why does this work? It changes things from you being a small fish in a huge pond to you being a small fish in a small pond of your own making and you can soon look like a much bigger fish.
- It takes work but niche means finding difference – where there is no difference price becomes a major factor. It accelerates your ability to grow your authority and expertise. There is nothing worse than being thought of as totally comparable with your competitors. You have to be different and stand for something to stand out
- Standing for something will sky rocket your success and bring better attention to the whole of your business. Energy goes to where you focus on. Its far easier to expand outwards as you grow.
- As a specialist you become much easier to recommend and refer as people understand what you do and the problems you solve which in turn brings you ready to buy leads who are already well on the way to knowing, liking and trusting you.
- Who do you pay more for a specialist or a generalist? Once you have discovered the super power of working in niches you will never go back to being a generalist.
- Showing specialism creates expertise which can demand higher prices.
- There isn’t a single downside to getting closer to those you want to serve – whoever gets closest to the customer wins. That moves your marketing from the old school of persuading and convincing (and chest beating) to understanding and helping people solve problems. The niche approach helps you make that shift.
If you need any help working through nailing or niche or indeed getting consistent and competent marketing work done for your business I would love to chat with you to see if I am the guide and help you need. I set up my business Your Lead Generation to offer the plug in marketing woman of action I was looking for over the 20 years when I was building and running our family business. I offer “Done For You” retained marketing contracts and also my one-off £99 Nail Your Niche calls are a great kick-starter if getting into action is what you need. I come highly recommended: “Laura is a pleasure to work with. She exudes enthusiasm for her work, is very astute and commercially minded and is quite to spot an opportunity.”
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