When creating their small business marketing strategies, many entrepreneurs have a really hard time finding their niche. First of all, they are often reluctant to target a specific niche because they’re afraid of turning away business. They also struggle with how to go about finding a niche. The secret to finding your niche is understanding what a niche is, and why finding your ideal niche begins with YOU — not your target market.
Niche Definition There are many definitions of niche and target market, and the two are often used interchangeably. But there is an important distinction.
A target market is the group of people most likely to buy your product or service. They are the people to whom your product is being marketed
A niche adds another dimension. A niche combines your target market (WHO) with the solution you are providing or the goal you are helping them achieve (WHAT).
When you combine your “what” with your “who”, you have your niche.
How to Find Your Niche
Remember that people don’t buy a service or product, they buy a solution. And deciding what solution you will provide begins with understanding what you have to offer.
You can’t be great at everything, but there is an area in which you have something special to offer — a unique skill or perspective or approach. What is unique about you and what you have to offer? What are your passions, skills, interests and expertise?
Once you have identified that, think about who could most benefit by what you have to offer. Who do you naturally attract? Who do you enjoy working with? Who are you passionate about helping? Those answers will lead you to your target market.
Remember, there is only one YOU, and you will ultimately attract those who find you compelling. Be true to yourself and you have the ability to help other people in ways that nobody else can.
Did you find this post helpful? If you have any questions or feedback, please leave a comment below? And be sure to click on the Facebook and/or Twitter icons above to help others find their niche. Thank you!
”When creating their small business marketing strategies, many entrepreneurs have a really hard time finding their niche. First of all, they are often reluctant to target a specific niche because they’re afraid of turning away business.”
This is so very true especially in today’s economic times, but after a business defines their niche they have a good start at branding their business. Once this is accomplished people will then associate or “brand” their business with their product or service as we now associate Google with search engine or Hersey’s with candy bars.
Great point Alan! Your niche is actually at the heart of your brand. The way I describe it is:
Niche = Who (target market) + What (solution you provide)
Brand = Who (target market) + What (solution) + Why (why you do what you do and why people should work with you)
Too often we think of our brand as our logo, tagline, etc.. but the truth is that is the “packaging”. Even more essential to your brand as a solo professional is YOU. Your values, personality, vision, etc…