Niche Craft: Finding Your Market Niche

Niche Craft: Finding Your Market Niche

Niche Craft: Finding Your Market Niche

Common sense would tell us that casting a broad net when marketing our products or services would provide the most customers. And we would be dead wrong. That thinking will keep you struggling for years to find your market - perhaps never finding it at all. Just like with fishing, casting too broad a net is going to yield you a lot of fish you are going to have to throw back - wasting time and effort.The truth is that the narrower the niche, the more money you will make. This is the fine art of niche craft. Just like a song, it works magic for your business success.A niche can be defined as a focused and targeted group that your products and services cater to. Many businesses make the mistake of confusing a broad category for a niche. For example, "Women" is not a niche. "Children" is not a niche. "Women who need...." is a niche. "Children who need..." is a niche. With that in mind,can you see how much more effective it is to have a specific niche? You can speak directly to their exact wants and needs. You can describe their pain., You know them. You get them. You go directly to what's keeping them up at night. How irresistible is that?Here's another example. Let's consider that you think your niche is "athletes". That's really not a niche. That's a category! What kind of sports are you offering solutions for? Your solutions for a bad gold swing and a poor batting average or a weak backhand are not going to be the same. So your niche is going to be, in this case, golfers, or baseball players or tennis enthusiasts - but not all of them! They have different pain points, needing different solutions. Speak to their specific pain,offer them specific solutions and you have their business.Identifying that niche can be challenging. But once found, it is the gift that keeps on giving, Here's why.Business is all about providing solutions. In other words, all businesses are in the "business" of pain relief for their clients. We solve their problems - the worries that keep them up at night - the issues, that without us, seem insoluble. We take away their pain, their worry and get them unstuck so they can move forward, perhaps even live happily ever after.Sometimes your niche finds you and you aren't paying attention. Go back over your list of clients and see what they mostly have in common. You might be surprised to find that you already have a niche. A client of mine who has an answering service business went back over his list and realized that a large percentage of his clients were dentists! When he began targeting dentists, specifically identifying their pain points (because he already knew what they were), he increased his business by 30%. Remember that marketing is a strategy:1. Identify their need2. Describe their pain3. Offer a solution4. Call to ActionDon't be afraid to narrow your niche. Remember, although it may seem counter intuitive, the truth is, the narrower your niche, the more money you will make. That's "niche craft", wicked niche craft, at its best.

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