1# Get Attention
The bigger the group of people you go after, the harder it is to:
A) connect with their specific needs, desires and problems
B) stand out from the rest of your competitors who are also grappling for that group’s attention
C) reach them
The odds of dominating a niche & being chosen by a client are simply much higher
Get Attention!
2# Differentiates You
By specialising, you are no longer seen as a generalist. This alone can create “top of mind” status attracting the right clients and the right opportunities.
3# “Hyper” Market Awareness
A speciality and a target audience will shift your focus away from yourself and your preoccupation with your services & products and onto the marketplace / prospects / clients. A keen focus will help your “buyer persona” come alive in terms of words and phrases that they like to use. By checking-in regularly with your target market, you evolve with your marketplace over time.
4# Helps You Communicate It The Best
When a prospect doesn’t grasp all the issues surrounding a need they have, our ability to influence him or her is at its peak. Helping them best frame their needs/problems gives us influence and lays the foundation for a long-term sustainable relationship.
5#A More Compelling Marketing Message
It is easier to match their preferred means of communication (media) with a message or promise that best resonates with them. A compelling marketing message PULLS ideal clients in to you by addressing their very specific problems, issues, needs and wants – better than anyone else.
6#A More Compelling Offer
The better you know them, the better you can position your irresistible offer.
7# Respect
People place a high value on niche specific expertise, because people want to be understood and they want to find a solution that fits their unique needs (even if the solutions you provide could fit almost anyone, people still value that you’ve taken the time to focus on and address their unique situation).
Gain Respect
8# Trust
Simply by addressing people as the individuals that they are and empathizing with their unique circumstances instantly builds huge levels of trust and desire to buy your products and services (especially if you’re one of the first people to do it). You score major points just by recognizing them and the specific problems they’re dealing with.
9#Helps You Get REALLY Good At It
A specific niche speciality allows you to concentrate your efforts. This focuses you on getting REALLY good in that area. You will enjoy increased recognition for producing tangible results. This increases your earning potential and maximises word of mouth marketing: A program tailored to XYZ to help them XXX in less time.
10#Helps You Get Known For It (Reputation)
Far from limiting you, it also helps position and brand you, as the GO-to expert in that area. Leadership = authority + credibility. You are more able to develop targeted materials that speak directly and convincingly to your ideal client. Now someone can easily describe what you do and with whom, which will bring in more referrals. Note: You can always expand on “your offer” once you have their attention and trust inside your marketing funnel.
11#More Strategic Partners
Your competitors are better able to decide if you complement supplement or directly compete with them. This will assist you in gaining specific targeted referrals and running joint promotions.
12# Professional Development
You have core coaching material to reuse. Getting picked up by PR is more likely. Through understanding specific needs and wants you’ll spot patterns and opportunities and be able to respond quickly to them.
13# Market Less
Spend less time marketing and more time focusing on your passions. Quickly find a large number of people chasing you down (instead of the other way around) because you’re one of the few coaches really speaking to them. That means you won’t have to work nearly as hard or spend nearly as much time to generate a steady stream of customers and clients! People like to work with the best. And the people at the top always get to charge the most and naturally attract more and more success.
14# Multiple Vertical Markets
Niches do not require you to work only within one niche market. You can target and dominate many vertical niche markets to create lucrative streams of revenue. You simply need a system. A step-by-step blueprint that can be systematically, quickly and easily applied to several related niche markets.
15# The Answer to Overwhelm
There’s only one marketing genius and it’s not you, or me; it’s your “ideal” or “typical” client. If you listen, they will tell you all you need to know, to build a thriving business around them.
A clear, focused target market will guide and regulate your efforts.
Choices – Choices – Choices … !
Get the hint? You’ve got to find a way to “specialise” and “serve” even if you strongly dislike the concept of a “niche”
Ask Yourself:
With what types of clients have you developed a strong track record & results?
With whom do you enjoy working?
What unmet opportunities are there?
Because not only will a well-defined Niche attract the right kind of business, you also won’t have to work so hard to get them.
Use the power of positioning, today, to make you and your business distinct, meaningful and indispensable.
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You’ve made some great points here Noel. It’s so true that when you focus on a specific market the process of building your business and your client base gets SO much easier.
Hannah
P.S. I posted a video on this topic a few days ago at http://getmoreclientstips.com/find-your-niche/
Spot on Noel!
If only this type of info was around when I first started my biz all those years ago. It would’ve saved me training clients that weren’t the right fit.
Now I pick who I train and I get better results – plus I don’t have any of “those dreaded clients” days.
Have to agree with you, really great post quite long but I was hooked and read it till the end….thanks for the tips.
It’s certainly worked for you Dan! Christina, it’s part of a Market Strategy Module I wrote for my Lyons Den, but I published the Niche part here because it’s important people realise it’s but ONE part of positioning yourself and finding a real and sustainable competitive advantage. But ALL businesses start with knowing who you want to work with. Noel.