In BizTip #28 I talk about being able to identify your niche.  Your niche is the specific area of the overall business category you serve that you do particularly well.  It’s the one area that you specialize in and that your best customers know you for.  Every business category has smaller segments that customers are looking for.  It could be an additional service you provide becasue you know your customers appreciate it. 

As a small business advisor for OneCoach, we have a dentist that serves a community of busy business executives.  When he realized that the parents were missing their childrens dental appointments due to troubles with scheduling, he initiated a partnership with a limo driver to pick up and return the children to their homes.  Since the limo drive had down-time during the day, it worked for him as well.  Ultimately, the parents were thrilled to be able to have their children’s dental appointments kept and told their friends what the dentist was doing.

So, how do you identify your niche?  Here are few places to get started:

1.  Think about what your customers really appreciate about your product or service?  You might even want to have someone contat a few and ask them.  It only takes one or two specific areas for you to understand what is important to them.

2.  Think about other ‘problem areas’ your customers or potential customers are having.  Is there a solution that you can provide?

3.  Do a quick inspection of your competition to see what things they promote as their ‘claim to fame’.  Make sure you don’t follow these areas unless you feel you can do them better and be more effective at advertising them.

4.  As you serve your existing customers, ask them if they know anyone who is looking for (someone like you) that provides that specific service or approach to doing things. 

Here is why niche marketing works.  People do not remember generalities, they remember specifics.  They also do not remember things that do not touch them personally.  They remember things that they feel have value to them. 

Your focus on a very specific area that highlights the benefits they like and see value in, will casue them to share their experience with others like them.  You will actually grow your business by touching less people.

Niche marketing is not difficult but it can be challenging to figure out.  Rather than put to the side while you work on other non-revenue producing activities, get help from an experienced business coach who can help you figure out where your niche is.

The riches are in the niches.  Start identifying your niche today.

Originally posted 2015-08-18 14:36:13. Republished by Blog Post Promoter