Niche Marketing Begins With YOU
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Many entrepreneurs think that selling to the widest possible market is the likeliest path to success. They are afraid to pursue a niche because they fear they'll lose business by turning away customers. But this 'take all comers' approach is not very effective. It's hard to stand out when you market your business without a distinctive set of prospects in mind.
Benefits of Niche Marketing
There are many benefits of niche marketing, including the following:
- Easier to become an expert. By focusing on a niche, you become an expert at providing your service or product.
- Focus your marketing resources. In knowing your niche, you understand their buying habits and how to reach them. Clients are easier to find and stay in front of.
- Tailor your services. When you serve a particular niche, you can offer products and services that meet their specific needs and what they are motivated to buy.
- Speak their language. When you understand the needs and the language of your niche, you can communicate better with them and speak directly to their unique situation.
- Differentiate yourself. In targeting a niche, you can significantly reduce your competition and create a distinctive personal brand.
- Earn more money. As an expert, you can command higher fees, and leverage your efforts into multiple income streams.
Niche Market Versus Target Market
There are many definitions of niche market and target market, and the two are often used interchangeably. But there is an important distinction.
A target market is the group of people most likely to buy your product or service. They are the people to whom your product is being marketed
A niche adds another dimension. A niche combines your target market with what you are helping them with.
Niche = target market (who) combined with the problem you are solving/need you are fulfilling (what)
Your “who” is your target market. When you combine your “what” with your “who”, you have your niche.
For instance, say you are a network marketer and you sell non-toxic cleaning products. Your target market could be people with asthma, while your niche is people with asthma who are looking for natural solutions to improve their health.
The key to understanding niche marketing is realizing that people don’t buy a service or product, they buy a solution. That solution can help them solve a problem or achieve a goal. Being a solution provider is critical for good relationship marketing. When you become the solution provider for your target market, you are a winner.
Where Do You Start?
So where do you start first? With your “who” or your “what”?
You might start by looking at yourself. What are you great at? What do you enjoy doing? What kind of experiences have you had that you’re most proud of? Then do some research to figure out what target market needs you can meet.
Or you can go the other way.
Who do you like to work with? Who is your ideal client? Now what can you offer that ideal client that is special and different?
If you look at it like that, which approach do you think will be more successful?
You really can go either way but I think it is best to start with YOU.
You can’t be great at everything, but there is an area in which you have something special to offer -- a unique skill or perspective or approach. Now, you just have to figure out who wants what you have to offer.
And are they willing to pay for it? There is no sense in going after a niche if they aren’t willing to pay money for what you have to offer.
Keep in mind that you can’t be all things to all people. In fact, you don't want to.
What is unique about you and what you have to offer? Before you get intimidated, remember two key things:
- What you have to offer doesn’t have to be revolutionary, but it has to be compelling.
- Your unique offering doesn’t have to be compelling to everyone, it just has to be compelling to your target market.
There has to be synchronicity between what you have to offer and what your target market wants. When you find that connection, you can identify your niche.
Remember, there is only one YOU, and you will ultimately attract those who find you compelling. Be true to yourself and you have the ability to help other people in ways that nobody else can.
Cindy Schulson is a small business and attraction marketing coach. She helps entrepreneurs identify and attract their ideal niche so they can market themselves more effectively and authentically. Get your free copy of her report "Ten Steps to Finding and Attracting Your Ideal Niche".
As a member of the International Coach Academy and Coaching Cognition, Cindy brings both coaching expertise and over 20 years of business experience to help you build a successful business.
About the Author: Cindy Schulson
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Primary Web Site: http://www.attractyourniche.com
Your Niche
Hi Cindy,
Thanks for an informative article on niche marketing.It just makes sense to market to the people who want what you have. It can save lots of time and energy. What a nice feeling to be able to serve people who are really interested in what you have to offer--and have the time to really focus on your area to really excel.
Niche Marketing is the Easiest
Until people can define their niche - marketing is very hard and hit-n-miss. Getting in tune with your niche will not only make life easier but you will make more money and work fewer hours. Just what we all need!
People are looking for Solutions
Cindy
You are so right when you say people don't buy a product or service, they buy a solution. They want to buy this solution from someone that knows and understand their problem and can really help them. They are most likely to buy from a person they see as an expert in the field.
The job of the business owner is to become that expert and market yourself accordingly. They can do this by finding their niche using the methods you describe and developing the expertise through study and work.
It is often difficult for business owners to understand that with the millions of people searching the internet today for those solutions, you have the best chance of success by finding a niche you're comfortable with, becoming an expert in it, and marketing yourself.
You have done a great job of explaining this. Good work.
Niche versus Target Marketing
Hi Cindy,
I like how you define each of these. Target marketing is the "who" and niche marketing is the "what". It certainly is much easier to focus on what you already know and are good at, that to try to be all things to all people. Putting your focus on providing solutions for people is the best use of your time and energy.
Thanks for sharing.
Niche What?
It wasn't until I had had some really good marketing online training that I understood the importance of marketing to a targeted audience.
You are so right, Cindy, many marketers thinks they will lose customers if they narrow their search.
This can happen if the target market is too narrow and good niche research will identify just that.
But if a marketer implements your steps, getting the right people who want what you have will not be a problem.
Solving Peoples Problems
It's been time tested that if you can solve peoples problems you're almost always guaranteed success.
I like to think of niche marketing like trade magazines, you can find a trade magazine on just about any niche from noodling to rock hunting.
And if you target a specific niche by again providing solutions for people within that niche that's where the payoff begins.
Finding the Niche
Cindy you have explained this very well and it is an area that does get mixed together. I know that in the beginning I was merely targeting people it wasn't until I began to dig deeper into the target market that I found what they were really wanting, finding my niche and how I could better serve them better.
The process of finding a niche and having enough people interested in it can take some time but it is well worth the effort.
Niche: a Buzz word that everyone should understand
Cindy, your Niche knowledge is very timely. So many people are wandering around the Internet like nomads because they have failed to realize the importance of finding a niche and providing solutions to their target market.
I know you coach on that subject and help people identify the niche that leads them to success. I absorbed the definitions, thanks!
Great Post
Thanks for the article, it just gave me an idea! Really, thanks!
Finding Yourself Before You Find Your Niche
Great article, Cindy.
In additiona to talking the talk, I see you’re walking the walk.
Of course, there are many benefits to niche marketing, and I like the emphasis you place on the marketer herself.
Of course, we must start with ourselves. We always have to include ourselves in the equation. Whatever niche you decide to pursue, you must always remember that it is YOU who are pursuing the niche.
You mention that people are looking for solutions. I agree. I would add that people also choose the people they want to work with. So, again it comes back to who you are as a person.
Fantastic insight, Cindy.
Angela Arnold
Stories?
HI Cindy,
Great article. Certainly pinned down (thinking of your post it graphic) why you would want to ID your niche.
Something I'd appreciate hearing are stories and real life examples from people that you have coached (with their approval of course) as I often learn more from an example/story than I do from the practicalities.
Best
Darag
Listen to the expert
Cindy- Well written article from an obviously seasoned professional. Thank you.
Barbara Nugent, Apriori
Be Unique
Hey, Cindy. Great advice! Target Market vs Your Niche & Discovering You. It is about what you have to offer that would be of VALUE to others. This is the learning part of Business. This is the journey.
Thanks for your wisdom, Cindy.
Examples of niche marketing success
Many thanks for the feedback. I truly appreciate your insights. Stephen, I'm excited this article inspired an idea for you. I'd love to know more!
Darag, thanks for asking for some examples. I'll share the outlines of a few here, and don't hesitate to contact me directly if you would like to know more.
One example is of a network marketer who works with a wellness company. He is very knowledgable about spirituality and he is now targeting people interested in spiritual health. Another is a woman working with an MLM in the financial sector. She is an RVer and is targeting fellow RVers who want the financial freedom to make money on the road, as well as the financial support to help them retire. A third example is a wellness coach who is going through a divorce and has narrowed her niche to help people stay healthy while dealing with the stresses of a divorce.
I'll give you a last example which is myself. My niche is helping solo entrepreneurs identify, understand and connect with their unique niche so they can market themselves effectively and authentically.
I arrived at that niche by following a system I created and now coach others on. When I was in the corporate world, I helped companies develop strategic communications programs aimed at their target markets. Despite my background, I didn't give much thought to niche marketing when I started building a business online. I thought I might target work from home moms, but I had no idea if it was a viable target market or how I could differentiate myself. As it turned out, I wasn't attracting work from home moms so much as I was boomers, both men and women.
That led me on the path to learning everything I could about niche marketing, and developing a step-by-step system to help myself and others.
Thanks for allowing me to share my story.
Best wishes,
Cindy
Niche= Who + What
Cindy,
Once again your writing is a great educational piece. I like that you also, include "relationship" in the mix.
All marketers can identify to whom they may focus their marketing to. In presenting a solution to their markets they provide the "what" to meet the need. This is a very important strategy.
However, more service is provided by relationship building. It is this marketing skill that makes all the difference.
Niche
Cindy Thankyou for your interesting and informative article. This has helped me alot, not only reading your article but also your comment and hearing some examples.
I am in the process of working on a niche and so your article has some really good tips for me.
Thank you
Thanks Rosemary
Thanks for that feedback Rosemary. That's wonderful. Anyone who wants to share other examples of their niche, please join in the discussion!
best wishes,
Cindy
Niche vs. Target Market
Thank you, Cindy....for clarifying the difference in the niche and target market. I get asked this question quite frequently and you have explained it very simply and eloquently. I keep a notebook and like to jot down little snippets of information and this is definitely one snippet that I've jotted down.
Informative piece and thank you for sharing!
Niche
Thanks for the wonderful info on this topic, for which I know more of now. Opened up my thinking. Thanks so much again.
Niche Marketing Begins With YOU
Cindy,thank you for this great information.This is very helpful for my team.
Thanks again Hollis
Illuminate...
Cindy,
What a great article! You explain target marketing and niche marketing perfectly.
Its all about discovering the target market and then fine tuning it. Which in turns illuminate the niche market.
Thanks Again Cindy, for a great article.
Donna Wells
Free coaching call
Many thanks Donna, Anthony and Hollis. I'm so glad you found this article helpful.
Please know that I offer a free getting-to-know-you coaching session if you would like to discuss more about niche marketing. Just send me a message or skype me at cindyschulson and we'll set something up.
Best wishes,
Cindy
Your key to success
Thanks for a great article that clearly defines niche and target market. Getting this right early on is very important to be successful in business.
By trying to talk to everyone, you talk to no one. Important words to remember.
Getting to know Niche Marketing!
Hello Cindy! This one took awhile, Theirs so many comments! Your good!and very well known, Don't know much about niche marketing, Have never studied about it, In fact I feel that this is something i need help in, Very good point! I learned something on this post, But I think that I'm still looking for my niche networking and maybe you can help with that, THANK YOU For the FREE lessen.
Timothy Willan
twweagle@yahoo.com
Knowing the Needs of Your Niche Market.
Hi Cindy,
Outstanding article. I really liked the distinction you drew between a target and niche market.
I feel that it is so important to know the needs and wants of your niche market. You can have the greatest products on the planet. But if your niche market doesn't need them, you will not get many sales.
Cindy, I know you do a great job coaching on this subject. This is such an important factor in our marketing success. We can all use your guidance in this area.
Free Book"Ten Steps to Finding and Attracting Your Ideal Niche"
Many thanks for all the wonderful feedback. Timothy, I sent you a personal email.
I wanted to let you all know that my free report, "Ten Steps to Finding and Attracting Your Ideal Niche" is now available at http://www.cindyschulson.com. thanks!