Knowing your niche market is essential to every business’ success. Without knowledge of who you’re serving, you may not be able to find them and sell to them.
Tips for Finding Your Business’ Niche Market
We can take that existential question, “Who are we and what the heck are we doing here,” apply it to business, and call it marketing. What am I all about, and who would or should care?
File this entry into the “I already know that” bin. Isn’t that the case with a lot of the things we say we know? “Oh, I already know how important marketing is.” There’s a clear distinction, though, between those who know this and those who put their knowledge to use consistently and effectively.
So, even though I can sound like a coo-coo clock sometimes, I do it on purpose because there are certain areas of business that you must, must, MUST get right or else stay broke. One of those areas is marketing, specifically finding your niche market.
Back to Basics: Know Your Market
So what exactly does it mean when we’re talking about ‘your market’? Let’s go back to the basics: your niche market is who is ‘most likely’—very important words—to buy your product or service.
One of the biggest mistakes most people make is trying to be too many things to any and all possible markets. They end up being nothing to no one. When I was doing private consultations for many years, I would say that was 80% of my clients’ biggest problems—trying to be too much to too many different people. That’s a hard way to do business.
Why? It’s far too expensive to try and reach masses. Your marketing message is watered down dramatically and it never lands. It’s really hard to focus in and stay tight when you’re doing too much. This is where self-awareness comes in handy. Our ego mind says more is better, but that’s not true when it comes to your marketing strategies.
Less is better! Tighter is better! More focused is better!
Focusing on Your Niche Market
Our marketing plans are going to focus on two arenas:
- Who it is that you’re selling to
- What your product is
What it is that you do specifically for the group of people you’re marketing to? How are you perceived by them? Are you perceived as the specialist for a certain group of people? If you’re not, you’re fighting a very tough uphill and expensive battle.
The key is to be a big fish in a small pond. The idea is to identify your specific niche market, your primary or your best prospects. The more you can define your market, the more you know about them, the better you can find them, and the better you can serve them. Marketing is all about finding those people and letting them know how you are going to serve them.
So here’s a saying to internalize as sincerely and with as much energy as you can: If you can’t define them you can’t find them.
Now it’s your turn! In this community, knowledge is power, so what’s your experience finding your niche market? What are some important lessons learned or issues that you’ve come across creating marketing strategies? Share your thoughts in the comments.
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He a aprendido mucho es fenomenal este libro nunca pensé encontrar algo igual después de dos años buscando la clave para avanzar al fin la encontre.. Mis conocimientos se basan en negocios de comidas rápidas. es lo q mas me he propuesto aunq pienso ser grande y desde ahora tengo . Q empesar a cambir algunas cositas internas que no me dejaban avanzar
I know absolutely nothing about marketing, and I believe my Niche is Customer Service and helping people.
Therefore, I have not started a website, or any marketing
I echo T Harv Ecker words, I implemented his sound advise over years and saw the impact of the following two things, 1. Be specific in who you serve, and 2. then focus on that (dont get distracted in the ‘more is better game’, or the ‘urgency for income generation game’, that distracts your focus)…what you focus on expands.