When you market to a specific niche, you can focus your marketing resources.
You understand the needs and language of your niche, so you can communicate better with them and speak directly to their situation.
By focusing on a niche, you become an expert at providing your service or product. And as an expert, you command higher fees and leverage your efforts to create multiple streams of income.
Above all, when you target a niche, you can differentiate yourself. You significantly reduce your competition and create a distinctive personal brand.
There are many definitions of niche and target market, and the two are often used interchangeably. But there is an important distinction.
A target market is the group of people most likely to buy your product or service. They are the people to whom your product is being marketed
A niche adds another dimension. A niche combines your target market (WHO) with the solution you are providing (WHAT). When you combine your “what” with your “who”, you have your niche.
Niche = target market (who) + the problem you are solving/need you are fulfilling (what)
The key to understanding niche marketing is realizing that people don’t buy a service or product, they buy a solution. That solution can help them solve a problem or achieve a goal. Being a solution provider is critical for good relationship marketing. When you become the solution provider for your target market, you are a winner.
How to Find Your Niche
To identify your niche, is it best to start with your “who” or your “what”?
You can go either way, but in many cases, it is best to start with YOU.
You can’t be great at everything, but there is an area in which you have something special to offer — a unique skill or perspective or approach. What is unique about you and what you have to offer? What are your passions, skills, interests and expertise?
Once you have identified that, think about who wants what you have to offer. There has to be synchronicity between what you have to offer and what your target market wants.When you find that connection, you can identify your niche.
Remember, there is only one YOU, and you will ultimately attract those who find you compelling. Be true to yourself and you have the ability to help other people in ways that nobody else can.
About the author:
Cindy Schulson simplifies marketing for coaches and other solopreneurs so they can attract their favorite clients, earn more and market less. Cindy uses an artful combination of her analytical skills and intuition to help her clients focus, share and package their unique gifts. Cindy has worked in strategic communications for such companies as Coca-Cola and Visa, and has spoken at various events around the country.
Cindy’s Niche Success Kit has helped thousands of solo professionals understand what a niche is all about and guide them on the road to finding their own niche. Cindy’s Niche Breakthrough System
Certified Business Coach, Intuitive Strategist ~ As a Social Media Manager and Coach, I do the work for you and/or train corporations and small businesses how to set up their blog and a Social Media Marketing Plan around their blog/website as their business hub. As a Social Media Marketing Expert, I teach Relationship Marketing and Social Media Mastery, consulting and speaking services for corporate, business owners, and conscious entrepreneurs around the globe!
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