Can narrowing your focus really create more opportunity? The term “niche” has become common lingo in online marketing, but surprisingly many business owners still resist, thinking, if I get too specific I’ll turn people away. So to debunk myths around niching, I brought in business growth strategist for female consultant coaches and service providers, Jessica Osborn.
In this episode we’ll help you navigate how to make a huge shift in how you approach the “niche” conversation. She’ll break down the three specific parts of what makes a great niche, and help you avoid the pitfalls of not inching down.
I couldn’t think of a better way to start the new year. So if you want to get clearer and be more specific with your marketing strategy while serving your people best and want to niche down in the right way, this is the episode for you!
Episode Highlights:
- What is a niche and why is it important?
- What happens if you don’t define a niche? And what can happen when you do get specific?
- At what stage of your business should you start niching down
- The 3 elements that make up your niche (which most people don’t realize, and this is why they struggle.)
Episode Show Notes
What exactly is a niche and what does it mean to niche down?
There’s a huge amount of fear surrounding niche but to put it simply, it’s like you’re part of the market. There’s a whole market then there are segments and your niche is actually a part of it.
Niche is the space that you defined and you’re playing in.
Imagine that you’re in a market standing in the corner and just trying to speak to the masses telling them this is what you sell and hoping that someone walking past is going to buy your product, you have to think again. Most people will just walk straight past you and won’t bother to stop at all.
For you to be successful, you need to talk to the individual and having a focus or niche helps you achieve this.
Niching down is defining who it is you serve.
The more specific you get, the clearer you’re going to be and know what is the main problem of your customers, what are the mistakes that they’re making, what they need to do for them to be more successful. You’re going to be able to relate to them so much more because you’re really clear about what they’re doing.
What happens if you don’t define your niche?
There’s a difference between what you do and what you market. And if you’re trying to market whatever it is that you really do like and everything is included all in there, it just becomes really garbled, unclear messaging.
Whereas if you pull out the thing that you want to be known for, the clearer and more specific you can be in your marketing, the better you’ll be able to attract the right people.
Your niches and everything you do, it’s not defining your business. It’s defining your marketing—how you talk about things and how other people talk about you. It’s making it more clear.
When is the right time to start exploring niching down?
You need to think about it from the beginning but keep in mind it is a process. It’s like pieces of jigsaw puzzles. You need to keep on working to find the right piece.
And when you’re starting out, know that you’re going to make the best choice you can without knowing. Just get as far as you can get and start talking to people and you’ll realize who you don’t want to work with. This will help you start defining what you want.
The 3 elements that make up your niche
1. What
We’re talking about what it is that you do. What is that space that you’re playing in (ie, your specialization)?
If you’re not being specialized in how you’re selling, then you’re not standing out because you’re not the right fit for them and what it is it they’re trying to solve.
2. Who
This is your target audience. Every market has an opportunity and there’s more than enough to go around but remember that you’re not here to serve everyone, and not all would be a good fit for you.
You need to think about what kind of entrepreneur you’d love to serve? What sort of area are they in? Don’t be scared to narrow down industries or types of business. The closer you can get down to who’s the best fit for you then you get incredible results.
3. Why you
Think about what it is that you actually do really well. You might have the same what and who as someone else, but you’re never going to have the same way. That’s what makes you “you”, what makes you unique and what makes people want to work with you over somebody else.
About my guest, Jessica Osborn
Jessica Osborn is a business growth strategist for female consultants, coaches and service professionals who want to achieve a profitable business that affords them the flexible lifestyle they want for their families. She’s passionate about supporting other professional mums to achieve their vision and make more impact in the world, without the shackles of the 9-5 job.
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