There’s a lot of misinformation out there when it comes to finding your unique “business niche” — so I figured we’d clear it all up on the blog today!
You probably already know that picking a niche is important when it comes to growing a successful, highly recognised business. The reason for this is because it’s very hard for you to find the right customers (and for them to find you) if you don’t have a specialty you’re known for.
But before we dive more into how you can discover your unique niche, let’s clear up one of the biggest misconceptions out there — the idea that your niche and your industry are the same thing. There’s actually a clear difference between the two.
Your industry is the field you work in — like beauty, fitness, or marketing. Your niche takes that a step deeper and helps you hone in on the specific person you help and the specific way you help them.
To find your niche, think about the three following steps:
The person you aim to help is your target customer — like working mums, millennial women, or small business owners. The more specific you can be about your target client, the better.
- Do you help working mums, or do you help mums who are starting their first business?
- Do you help millennial women, or do you help millennial women who are passionate about the environment?
- Do you help small business owners, or do you help female solopreneurs specialising in marketing?
Narrowing down who you serve will make finding your niche much easier.
What problem do you help your target client solve? Whatever it is you do, you need to tie it into a problem your ideal customer is actually facing. If you aren’t sure what kinds of problems your target client might be dealing with, it’s a sign you need to do a little market research to figure out where there’s a gap in the market. If you DO know what problem your ideal client needs solving, and are confident that your business can provide the solution to that problem, your next job is figuring out how you can clearly and confidently communicate that to your target audience. Ask yourself: “Why does my ideal client need my product or service?” and go from there.
After your customer does business with you, what kind of success can they expect to experience?
- See increased revenue and sales?
- Attract more ideal clients organically through their marketing materials?
- Create major brand recognition and become a household name?
- Spend more time with their family?
Whatever it is that you promise, be sure to paint a picture of your customer’s success so they can really envision themselves doing business with you and having great results.
You now are equipped with the three things you need to know in order to develop your niche. All you need to do is combine them! It should look a little something like this:
- I help working mums of young children start their own business so they can leave their 9-5 job.
Just plug in your own ideal client, problem you solve, and guarantee — your niche will soon follow!
If you need more help identifying your singular niche, my strategy session is the perfect opportunity to further explore and understand the corner of the market your business occupies. Learn more about booking a strategy call with me!