Many small business owners resist finding their niche because they want to serve everyone.
That’s mistake number one for a small business owner who doesn’t have a multi-million dollar budget!
Niching enables you to successfully target and test segments of a market on a smaller budget or with less recources if you're doing content marketing.
If you have an unlimited resources for marketing campaigns then sure you can go after everyone if you have a product that suits many people but most of us don’t so get over it!
Even if you own a computer shop you’ll have different types of customers who respond to different marketing messages.
Do you work with a clientele who are ready to lovingly cough up for a Macbook Pro or do you attract students on a budget who are looking for the cheapest computer that will do the job?
Whatever way you look at it niche is always in the marketing equation somewhere.
So wherever you’re at now with your business it’s important to constantly be aware of your niche and here’s the proven niche success formula:
“Your target audience or ‘perfect who’ + what you offer + why you appeal to this audience”
Here’s my 5 Top Tips to Get You On the Right Track:
1) Know Your Niche. Use the above formula and apply it to YOUR business. Don’t skip this as it’s the backbone of your marketing success. Do the research and collate your findings in an online notepad. This may change as your business develops so if you did it a while ago it’s still worth doing it again now.
2) Map out your business model so it’s online or semi-online. The digital mobile economy is NOW. Billions of dollars are exchanging hands online now so get your products, services and content creation plan in place with your unique marketing funnel so your ‘perfect who’ see you as the obvious expert solution.
3) Put in the 10,000 hours. Malcolm Gladwell talks about the 10,000 hour rule in his inspiring book, Outliers. It takes about 10 years if you practice your craft for 20 hours per week. There is no short cut to becoming an expert but the sooner you plant your flag, claim your niche and get cracking, the sooner you can become world class if that’s your goal.
4) Work on your mindset. There are millions of professionals out there who could with a bit of vision and self-belief position themselves or their company online as the expert solution. The trouble is many are too timid to believe they are ‘worthy’ of the title ‘expert.’ If you’ve been in real estate or worked as an estate agent as we say in the UK for 10 years is it not reasonable to say you’re an expert? The difference is in the mindset and positioning.
5) Get the help and training you need to tap into the digital economy. Set up your website and purposeful platform so it’s mobile friendly, easy to promote with multi-channel or cross channel marketing and embrace the new rules and tools of the internet or risk being trampled by the cyber foot.
So this week’s challenge is for you to think how you can apply these tips to get into action right now. If you’re falling behind with your online skills and think Facebook is just for chatting with friends and a podcast is something connected to peas, you’re missing out on the biggest shift the world has seen since the industrial revolution.
I don’t want that for you…
If you liked this post please like and share it on the buttons below and leave a comment to let me know what you think and/or what action you’re going to take or have taken to become an expert both with your skill set and in the eyes of your niche market.
To go deeper on how to position yourself in a profitable niche check out my interview by Rob Brown of Networking Giants. You can listen to it at the blog or on our new apple podcast channel: