Why You Need to Narrow Down Your Specific Niche
When beginning a business, it is normal to believe that your product or service will help everyone. However, you will be more successful if you designate a specific niche for your business. You may fear that being too specific will reduce your reach or limit the income you can make, but, the opposite is typically true.
Some business owners rebel at that idea, but they usually discover that having a niche is what makes your business unique, and therefore viable.
By not identifying a specific niche, you will not be seen. The internet is likely filled with businesses just like yours. How can deciding on a niche help your business?
You Won't Be Spread too Thin
If your business goal is to target everyone, you will end up running around, designing your product for each type of client. If you don't redesign to fit all the types of clients, no one will truly be satisfied with your product. Either your product will be too vague to help anyone, or it will only help a percentage of the customers. For example, if you are an online designer of scrapbook material, but you are targeting everyone, you will miss connecting with your ideal client. You’ve designed scrapbooking materials for men and boys, but you’re only selling the few items that are geared towards teenage girls.
Identify Your Customers
By niching down your business, you will be able to identify your specific customer. When you know who your target customer is, you can design all your products around that customer's particular needs. To continue with the theme of scrapbooking, if your ideal customer is a teenage girl, you can cater all your research on what she wants to scrapbook about.
When you have your ideal client in mind, you can improve marketing and save money. Instead of throwing money in all different directions, you can identify where your ideal client interacts and market in those locations. If you are targeting teenage girls, you don’t need to be spending advertising dollars on LinkedIn. Head to Snapchat instead.
Get Expert Status
As you niche down, you can become the go-to person in your area of expertise. Whether that area of expertise is scrapbooking or it’s the design of custom software for manufacturing plants. When you know everything about your ideal client, all her needs, hopes, and desires, you can make a superior product that will gain you expert status.
Once you achieve expert status, people know exactly who to turn to in order to solve their specific problem. If one of your customer's friends says she wishes she had a solution for her production delays, you will be the one person she refers her friend too. She knows you will solve her friend's problem.
With the increase of digital marketing, there are too many competitors for a new business to be seen. Too much competition means never taking off and seeing your dreams become a reality. By carving out your piece of the pie, you can excel in your area.
When beginning a business or going through a reorganization, you must identify your ideal client. With your ideal client in mind, you can be found and eventually become the expert to fix their problems