When I first mention niching to my clients or to owners of young or adolescent businesses their faces stare back at me with mistrust and I can hear them thinking “but you don’t understand, I want more business you fool”
Let me first say that I think it’s great not to niche straight away. At the beginning I think it’s important to follow the opportunities that arise, trust your instincts and let your strategy be an emergent one.
But once you have gotten over the feast and famine cycle and are starting to stabilise and know your market, niching can notch you up a level so that you can THRIVE not just survive.
5 reasons why niching is so important.
1. Specific sells, more specific sells for more.
We are all someone’s customers, and we all know that when we select a generic business, we expect a generic price. When we opt for a specialist product or service we expect a specialist price tag. If you need your kitchen refitted do you opt for the general builder or the kitchen specialist?
Oh, and in case you need reminding money is what makes this a business and not a hobby.
2. You get to be an Expert in your field.
When we are picking a product or service we want to buy from people who know their onions. We want someone who knows the solution to our problem inside out and back to front! We want to hire someone who knows all that there is to know about the thing we don’t know about. I want to hire people who know all the new and shiny things there are to know about their area of expertise…
As a niched business owner you have time to learn and develop and be an expert in the area that you choose. Trying to be good at everything is time consuming and exhausting.
Spreading yourself too thin may be the key to survival, but it is not the way to thriving!
We want to work smart not hard!
By trying to appeal to everyone, you may very well appeal to no one, whilst working yourself to the point of burnout.
3. Self selection – means less selling, more gelling.
When you use language that appeals to your niche and makes it clear who your product or service is for. Your target market is then able to self select. By allowing them to self select, you negate the need to SELL anything. Which is awesome. So many of you heartful business owners are adverse to ‘selling’ –It is so much more fun when you just get enquiries from people who get you!
When you are clear about who you are, what you do, and who you do it for, there is no need to sell anything, the clarity sells itself.
4. You are making life easier for everyone.
Everyone wants ease.
Marketing is easier when you have a niche.
Delivering a clear, consistent and memorable message is easier when you have a niche.
Which means buying from you is easier.
Delivering great products and services is easier when you’ve simplified it all, and getting referrals is easier because when your message is clear and concise your existing clients and customers can refer you to their friends with ease.
5. You get repeat business as you deliver awesomeness!
As you get better and better at delivering the thing you do, for the people you do it for your clients love you and keep coming back. You earn loyalty. These loyal clients are your ambassadors, your evangelists, your friends even!!
Life is good when you are appreciated, your confidence soars, you are abundant and happy, and so are your people.
WIN, WIN, WIN!!