Niche it down: Finding a target market.
If you are new in business, you’ve probably heard about finding your niche. If the thought of narrowing down who will give you money makes you a little resistant, or if you get a little nauseous, I want to calm your fears and your desire to run out of the room (or click off this post).
Let’s go over some myths you may be thinking:
You can’t sell outside your target market.
Listen, no one is telling you that you can’t sell to people outside your target market. Take any money that comes your way. Target market is about marketing. Sales is what you do when you connect.
If I focus on one group, I’ll be leaving some out.
OK. This isn’t really a myth. You will leave some people out. That’s a good thing though. When you try to speak to everyone, you end up not speaking to anyone. If your message is so general that you become an one-size-fits-all solution. There are tons of those out there. When people have a problem they want solved, they don’t want something that fixes everyone, they want a solution that really knows their problem and how to solve it. Speak directly to their problems or challenges and how your product addresses those. You can only do that if you niche it down. The more specific, the better.
I might have less followers or subscribers if I only focus on one group.
Again, you’re right! You very likely will have less people – especially if you are choosy about your target market. However, they will actually be interested and engaged. When it comes to email and social media, quality followers are more important than numbers. If you think people aren’t signing up because they don’t see a ton of followers, I want you to try to focus on the content you are providing. Speak directly to their struggles.
I promise that niching it down will help. I hear your aversion, I hear your thoughts, and every marketing consultant and every business coach knows that target marketing works. It is the best way to control the budget spent on marketing because you are zeroed in on people who are most likely to BUY – not just follow.
Want to learn more?
Tune into this webcast I did with Business Coach Ingrid Gonzalez about the three biggest mistakes entrepreneurs make with target markets to learn more.
Have questions? Ask me! Email me now.