Picking the right niche for your product or service plays a huge role in determining your success. If your niche is too broad and competitive you are likely to get lost in the sea of competition and your message will be unheard. If your market is already saturated your ads costs will be high, particularly if you are trying to compete against big players.
This is where ‘niching down’ comes in. You need to get more specific in your market just to get seen. If you are laser focused, you will be able to target and attract the right people and create a loyal customer base.
Here are some of our top tips for picking your niche!
1. Keep it super niche and super specific.
The newer and more unknown you are and the more crowded the market is - the more specific you need to get, to be noticed. For example, social media is a very saturated market. So you need to pick a speciality e.g Instagram Stories; IGTV to grow your business; How to start Facebook group; Facebook video ads etc. Pick one area that you can specialise in and deep dive in.
2. Your niche doesn’t define your business.
You need a specialised niche to cut through the noise and attract customers into your business. But once they are in your eco-system, you can be anything end everything. You can then create more offers and services that reflect your broader market.
3. Validate your niche.
Before you start thinking about building your website or creating your business cards, make sure you have validated your niche.
Do some market research - get involved with Facebook groups.
Offer to help a handful of people for free!
Get these people on the phone and find out what they need help with, what their biggest challenges are.
4. Always focus on the client.
Don’t get consumed by what other people are doing in your market. Yes - model their best practices, but you should ultimately focus on your one dream customer and how you can best serve them. This will help you create an edge, that only you can offer.
5. Remember your Customer Avatar is not your Niche.
They are two very different things. Your Niche is the anchor to help you connect to the person you are trying to attract. Your Customer Avatar is the specifics of the person you are trying to attract - this is used specifically for your messaging and product design.Niche == >> I help small business owners systemise their their businesses to leverage their time and create systems that generate sales while they sleep.
Avatar ==>> Female late 30s married with children. She has an online business, it has been doing fairly well but she has come to a standstill. She wants to take it to the next level but she doesn’t know how. She doubts her ability but really wants to succeed.
6. Make sure you can find your audience online.
The best marketers only pick audiences that are already there online and easy to find! Are your ideal customers on YouTube and in Facebook Groups? Do they listen to Podcasts? Use the search boxes to find out. See how many views are coming up for videos in your Niche. See how many Facebook groups are active and the levels of membership. If the numbers are all low, you need to reconsider your niche.
7. Don’t give up!
The first time you launch your product or service, it may flop. If it does this is normal. Don’t give up at this point, go back and refine your niche; try and get even more specific. It may sound counter intuitive but the more specific you get the more money you will make. It’s not about trying to hit a huge market, it’s about making sure you are actually seen and can offer the specialist help that people are already looking for to help serve their business.
For some people picking their niche is obvious, but if you are starting out in business and aren’t exactly sure what you want to do - this can be one of the hardest challenges to overcome. But work at it, because if you get this right you will find it easier to create successful ad campaigns, manful offers and products and services that your customers want.
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