Many professionals are afraid to niche. They fear they will leave potential customers out of their marketing and thus, leave money on the table.
The truth is that the best way to dramatically increase your sales and thus, income, is to have a well-defined, specific niche.
Gaining 90-100% of a niche market is more possible AND more profitable than gaining just 5% of the total market.
The only way we stand a chance of getting attention in this day and age is to provide content that is highly relevant and clearly useful to their unique needs.
So, what is a niche? A specific group of people. That’s it. The key word is SPECIFIC. The more specific the better.
For example: People who want to lose weight (general group)
What are some ways we could get more specific?
- People over 40
- People with over 100 pounds to lose
- People who have Type 2 Diabetes and want to lose weight
- People who have had knee replacements and want to lose weight
- Full-time working moms who want to lose weight
FEAR: I can help any of those people? Why would I limit myself?!?!?!
Let’s pretend you are that working mom who wants to lose weight. You look for someone to help you. You find two people:
- Person A: I help people lose weight!
- Person B: I help busy, working moms lose weight without taking time away from their families or adding more hours to their days.
Who would get your business?
Ok, but still. What about all the OTHER people I can help? Why can’t I market to everyone???
There are approximately 1 gazillion people who provide services related to weight loss. Give or take.
Would you rather compete with 3 gazillion? Or a small handful?
You can really hone your expertise, target your marketing, and be more likely to help people achieve great success because you are truly a focused expert in what you do. By working with a small niche market all the time, you will quickly become THE go-to provider for people in that niche who want amazing results. YOU CAN ALSO CHARGE MORE!
You can OWN your niche the way you could never OWN the entire population.
A few potential Benefits/Outcomes:
- Less wasted time and money on ineffective marketing
- Higher open rates or conversions for marketing pieces
- Prospects and Customers who are pre-qualified and ready to buy
- Better SEO and recognition from search engines
- Can charge higher fees due to expertise
Want some guidance? Set up a NICHEFit consultation.