This process is simple and can make a big difference in your marketing efforts.
A niche is simply a specialized market. By that I mean a specific market. Let’s consider the legal profession for a second.
If a Lawyer practices law, but specializes in Family Law, that is his specialty. Go one step further and say that he specializes in representing children in the Foster Care System. That is your niche. You could have stopped and claimed family law as the niche, but always reducing it to the lowest common denominator you can.
A real estate agent may sell houses, but when he specializes in townhouses and condominiums,
That is your market niche!
You may also be involved in sports or a hobby that happens to be a good match for what you have.
A Network Marketer can recruit prospects, but when they choose to recruit stay at home moms, that is their niche.
You can now choose a niche based on your interest in a specific demographic of people like the stay-at-home mom above, or you can base it on your business background or life experiences.
An easy way to figure out what niche you’d like to pursue is to write a list of all the things you’ve done in your life. Maybe he has made money with them and maybe not.
Now, decide which one you have a particular interest in. Maybe you know an industry inside and out or worked for an industry that is notorious for not offering the benefit it does to its employees.
Whatever it is, narrow it down and then target that niche. When considering your niche, ask yourself if you’re interested in that part of that industry or not. Even if you like it, it’s critical to make sure that what you have is something they need. Don’t waste time on a niche that requires convincing. Are they known to need or want what you have? If the answer is “No”, go ahead!
It is easier to focus on a field of interest that you have already experienced. once I pointed
Child care centers and nursing homes, because he knew that more often than not, this industry did not offer substantial health benefits and at the time, that was exactly what he was marketing.
You do not need to be employed by or affiliated in any way with that profession. You may find that they have a need for what you have. Learn as much as you can about that industry and how it works and then identify the reasons why what you have is perfect for it!
That’s it, clean and simple.
Don’t feel like you’re forced into just one niche, but be careful not to take on too many at once!
It’s best to spend concentrated energy identifying and exposing your service or product to one niche at a time so you’re not juggling dishes on a stick.
It can be a lot of fun to work in a niche that you know well and can talk about from your own frame of reference. It makes a great connection with the decision maker.
Because you know your industry, you’ll be able to tailor your presentation to your particular needs. It can be very binding and a platform to build a mutual long-term relationship that could open the door for future products or services.