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The Importance of Defining Your Niche Market
I know it sounds so “old school,” but defining your niche market when running an online business is SO FREAKIN IMPORTANT. Another common term online coaches use when referring to “niche market” is “ideal client.” For the sake of this blog post, we’re going to use those terms interchangeably.
So What IS a Niche Market Definition?
According to businessdictionary.com
“Concentrating all marketing efforts on a small but specific and well defined segment of the population. Niches do not ‘exist' but are ‘created' by identifying needs, wants, and requirements that are being addressed poorly or not at all by other firms, and developing and delivering goods or services to satisfy them. As a strategy, niche marketing is aimed at being a big fish in a small pond instead of being a small fish in a big pond. Also called micromarketing.
In “simpler” terms, defining your niche market means you’re narrowing down your ideal client, or the specific type of person you are wanting to talk to with your messaging. WHO are you helping? WHO’S problem are you solving? WHO are you helping reach specific goals?
Why is defining your niche market important?
Because if you try to speak to EVERYONE you’ll end up speaking to NO ONE. Cliche, but so true. It’s important to really get super clear on who you’re talking to and then talk to THAT person in every blog post, social media post, email, live video, etc. You want your audience to feel like you’re speaking directly to THEM, that ONE PERSON. And the more CLEAR you get with who you’re targeting, the more CLEAR your message will be.
Will you repel some people by niching down? For sure. You might even lose followers, and that’s OKAY! You will repel AND attract the people you TRULY want to help.
Vanilla messaging, or “vague” messaging isn’t helping anyone. It’s keeping you safe and not bringing you clients or helping you change lives.
So the more clear you are on who you’re helping, the more clear your messaging will be, and the more you’ll attract your niche market or ideal client.
Niche Market Examples
A broad example of a niche might be “women who want to lose weight.” Even that niche is way better than just saying “anyone who wants to lose weight.” If we want to narrow it down, some niche market examples could be…
Women with PCOS who want to lose weight
Women with Endometriosis who want to lose weight
Women who just had a baby who want to lose weight
Women who are stay at home moms who want to lose weight
Women who are busy corporate bosses who want to lose weight
Women who are entrepreneurs who want to lose weight
Women who just had an intense break up who want to lose weight
Women who are going through menopause who want to lose weight
Women who are in college who want to lose weight
Women who want to lose weight with intermittent fasting (this niche is more the METHOD in which you’re helping them than it is the life stage they’re in like the other examples)
One thing I’ll say about niching down to find your ideal client is you want to distinguish HOW you’re niching down. Are you niching down by age, lifestyle, method in which you help people? ALL are appropriate ways to niche down, but I would be careful not to get TOO narrow and limiting yourself with age.
I’ve seen a lot of people say, “I’m only going to help women between 25-30” vs “I’m going to help women who are struggling with PCOS”, no matter WHAT age. Again, I’ve seen both work, but more often than not it’s better to niche down by the specific PROBLEM you’re solving or “lifestyle” they’re in than specific age.
For example, your ideal client might want to lose their baby weight. They could technically be 40 (or even more) or 18! So in that case, the AGE doesn’t matter so much as the lifestyle they’re in–they have a newborn and want to lose the weight they gained during pregnancy.
You can speak SO much more clearly to that problem when you define it like that.
How to Find Your Niche Market Tip #1: Start Broad
The first step you should take when trying to define your niche market is list out EVERY type of niche you’d want to help. Take out a piece of paper and brain dump every single type of person you want to help. Men, women, ages, lifestyles, demographics, problems you’re solving, goals you’re helping them reach, etc. Don’t limit yourself.
The key here is to get everything in your brain out on paper. If the sky was the limit and you COULD help ALL the people in the world, who would you want to help? List out ALL the possibilities
How to Find Your Niche Market Tip #2: Narrow Down With Your Expertise in Mind
Now that you know all the different types of people (niches) you want to help, let’s narrow it down but listing out YOUR specific expertise, skill, or ‘zone of genius.’ While we WANT to help everyone (or as many people as possible), which of the niches you wrote down can you help MOST when thinking about your skill set? Get really honest with yourself here.
Note: This doesn’t mean YOU have to be a mom if you want to help moms for example. I have clients who aren’t moms and have THRIVING health + fitness businesses helping moms lose baby weight. As long as you have the SKILLS and can write copy that that specific niche needs to hear and connects with, you can help that niche.
So out of all the things you help people with, what are the things you LOVE talking about and you KNOW you’re really good at?
For example, when I was a health and fitness coach, I helped women with a lot of different things, but what I became REALLY good at was helping women learn how to implement intermittent fasting for fat loss. That became my “thing,” “niche,” “expertise.” Again, I helped them with WAY more once they were inside my coaching but I attracted them and got them IN with intermittent fasting.
SO braindump ALL of the things you love talking about (because you’ll drive yourself crazy if you aren’t passionate about the topic you’re niching down to) and are really good at (so you can feel confident when talking about it).
How to Find Your Niche Market Tip #3: Focus More on HOW You Help, Not the Demographics
Now that you know all the niche markets you can serve and the expertise you want to serve them with, it’s time to narrow down to one or two specific niches. When doing this, I highly recommend leaning towards solving a problem and not a specific demographic/age range.
Again, to use the “baby weight” niche. You TOTALLY can niche down to “new moms in their early 20’s” and get really specific with that age range AND way you serve them (weight loss for new moms). OR you can broaden it a BIT and make it simply “moms trying to lose the baby weight” (no matter what age). There is no right or wrong answer. But if you’re relatively new to business (within 1 year) I recommend narrowing down (moms who want to lose the baby weight) but not TOO narrow (so not saying moms in their early 2o’s who want to lose the baby weight). This helps you get your message SUPER clear and narrow down without feeling TOO restricted.
And remember, all of this takes time. Once you start interviewing your new niche market and doing market research you will be able to speak to this niche in THEIR LANGUAGE, to the point where THEY will DM YOU about your coaching and send you messages like: “OMG! It’s like you’re reading my mind!”
We’ll get to that more in next week’s blog, don’t you worry 😉 In the meantime, be on the lookout for the next Get More Clients Free Challenge, where we will dive DEEP into identifying your niche market/ideal client, and learning HOW to speak to them. We’ll start on 4/22 and I’ll announce registration on 4/8! Follow me on IG @meganyelaney so you can register right away and truly learn how to attract more ideal clients you LOVE!
Tell me about you! Do you struggle with defining your niche market and speaking to your ideal client through social media marketing? Which of these tips will you implement?
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