What are your feelings about niching?
This subject brings up lots of things for people…
The main one being “lack or missing out“.
Niching stops you from getting business… right?
So, I thought I would put together a list of reason why niching is not good., but let me first explain what niching is..
What Is a Niche?
A niche is a specialised segment of the market for a particular kind of product or service.
Understanding niche is essential as it helps to identify your audience’s needs and helps the you generate new product ideas as per your customer’s requirements.
This also helps in finding the right way of communicating with your people so you can increase engagement.
Why Niche?
A mass-market strategy focuses on a wider audience pool while a niche market strategy focuses on a smaller segment.
5 Reasons why Niching isn’t good…
- You focus on the perfect clients you want to serve – imagine knowing EXACTLY who your people are and what they are looking for
- You’re seen as an expert – you have more knowledge and are sort after
- Spend less on marketing – because you know exactly where you need to be and waste less time, effort and resource!
- Less competition – People cannot compare you to others in your industry because you stand out head and shoulders above the rest!
- Intimacy – Because of your smaller audience you can spend more time with them by giving them a better experience than they have had before.
All jokes aside…
These are some of the best reasons why you should niche.
Being all things to all people brings burnout, frustration, scattergun marketing, a diluted message and confusion on your audiences’ behalf. All equalling, no business.
For example;
I recently shared in an Instagram post about who I serve as I am niching even further.
This is what I said...
I work with Spiritual Entrepreneur’s!
They are a tribe of people who are here to look after the earth and everyone on it, including those who were here before us and those who are unseen.
They are creators of products and services that not only empower themselves to be who they are, they are also made for the good of and the whole of the humankind.
I’ve collaborated with them for years and I am one myself.
Let’s talk about you.
You have strong ethics and values that are non-negotiable.
You stand for what you believe, even if it isn’t popular.
You haven’t become an entrepreneur to become wealthy in the traditional sense, but to gather abundance in other ways.
Like making others happy and/or distributing help (products or services) to a situation/transformation you have either been through yourself or have seen the suffering and want to make an impact by being the change.
Your work is not really work, it’s more being of service.
It is your purpose and everything you do must have meaning AND also nourish you.
“Define success on your own terms, achieve it by your own rules, and build a life your proud to live” – Anne Sweeney
Spiritual entrepreneurs are not just healers, witches, yogis or therapists who believe in the Universe, tarot cards or incense. That is a generalisation.
Spiritual entrepreneurs can be accountants, business coaches, jewellers, web designers, motorbike riders, engineers, he/him, she/her, they/them, who believe in something out there that is bigger than them AND they want to be a part of it.
You have heard a whisper all your life… and it pulls you.
Sometimes you feel like you’re not making enough change because the calling isn’t what you thought it would be, yet still you hear it and know it is what you should be doing.
The problem is your internal voice saying… Who are you to do this?
3 ways you can Niche
- The type people you work with – for me Spiritual Entrepreneurs
- An industry or sector – for me, any sector or industry
- What you do – for me Customer Journey Marketing
You can go for one or all three a combination of two works REALLY well!
So tell me about you.
Is niching good or bad?
How could you niche more?
Who are your people?
