Riches in the Niches: Discovering Your Sweet Spot -

jenna rainey

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Riches in the Niches: Discovering Your Sweet Spot

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11/25/2019

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The riches are in the niches. You’ve heard that phrase 1,000 times, but how do you actually discover your niche? And why? Most business owners make the mistake of casting their net so wide that they dilute their offerings. Messages begin to blend in and nothing truly speaks to their potential customer and cuts through the noise.

I get it! Narrowing down your target audience and offer can seem scary and confusing. Let’s talk about how and why you should find your sweet spot!

 

What is a niche?

A niche is defined as “products, services, or interests that appeal to a small, specialized section of the population.”  Within business, it’s the act of serving a targeted audience with a specific offer. 

If you were in the market for a new couch (…you know, the perfect mid-century modern, leather couch that won’t break the bank?), which ad would you be more likely to click on?

  • The one that has a photo of your dream couch and a link on where to shop for other mid-century modern couches for less than $2k?

OR

  • The one that says “Shop all our furniture from coffee tables, bar stools and couches, we have everything you need in EVERY style!”?

My bet is you wouldn’t even stop to read the full caption for the second ad. It just gets lost in all the clutter and noise…and who want’s to go digging through an entire catalog of furniture to find a specific style of couch?

The sweet spot is when you can narrow your audience AND your offer. When you do this, everything from your images, to your copy and approach on social media becomes an extension of a conversation that is ALREADY happening within your prospect. Meaning they are already prepped and ready for your offer before they even see it!

 

Specialization will always beat generalization

If you were just hospitalized for a heart attack, would you prefer to be treated by a general practitioner or a heart specialist? No doubt you’d choose the specialist, right? Even if it cost more money to go with the specialist, the answer is obvious. In fact, you expect the specialist to charge more for their expertise on that particular area!

Let’s say you are an artist who teaches other artists how to build businesses, here’s how we’d get specific:

Start with your audience:

Artists > Artists who work with wedding clients > Artists who work with wedding clients and struggle to make good money 

Then your offer:

Online Classes > Online classes for artists > Online classes that show artists how to build thriving stationery businesses

By going an inch wide you can go a mile deep with your customers. You can get to know your potential customers deepest pain points, the language they use around their needs, and understand exactly what they’re looking for because you’re more focused!

For example, if you know you’re serving artists who work with wedding clients, get to know the common problems, mistakes and pain points. This can then help you speak to your prospect more clearly!

Offer them solutions to their issues with the post office, or problems with writing contracts for clients, etc. so you attract them to your offerings. They are coming to you because you serve a specific need! Something that would only get lost in the shuffle if you offered business courses for anyone and everyone.

 

Steps to discovering your niche

“So, how do I discover my niche?” you ask? It’s much less complicated than you’re making it…

  1. What are you passionate about? Passion will ALWAYS beat out research and competition. Without it, you can’t sell. Make sure you’re passionate about what your offer is!
  2. What problems can you solve with this passion? A great way for finding this out is asking your audience! Or doing some keyword research in Google! Type in some search terms in Google around your industry/topic, and see what questions come up in additional searches!
  3. Research your competition! Hop on Instagram and see what your competition is like. Who are they speaking to? What are they offering?
  4. Test your idea! Don’t just throw in the towel after hearing crickets. Switch up your copywriting, keep going back to the drawing board! It takes work to get into a particular industry and niche! Don’t just give up after a few tries. This is where passion is imperative! You need it to keep trying and testing things out!

Remember. It’s all about finding a solution YOU can offer in the particular industry you’re in. Enter in the conversations that are already happening in your potential customer’s mind and you’ve hit the jackpot!

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  1. Theresa says:

    Thank you for sharing your knowledge and passions!

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