Are you trying to market to anyone and everyone that might even remotely have a need for your services? Rather than spreading your time, energy, and marketing budget so impossibly thin, focusing on one or two very specific segments of your market will likely reap you far greater rewards and at much less cost.
By defining your ideal prospects in as detailed terms as possible and then focusing your marketing message specifically to that group, your chance of making inroads rises, as you become recognized as the “expert” that really understands and can help resolve the pain points of that group.
Do Your Homework
Operating in a niche market means you’re working with a smaller pool of potential clients, so it’s hyper-critical you get to know them intimately. Who are they? What are their demographics? What are their buying powers and buying cycles? Be crystal clear in your marketing to show potential clients how your services understand and answer their needs.
Test the Waters
Because you’re marketing to a smaller specific group, it’s important to make sure you get the message just right. You can do this by providing promotional offers, which in turn will provide you with valuable information about potential client response, but won’t break the bank to execute. Things like offering a free webinar or sample newsletter, addressing the needs of that particular niche is a great way to test their reactions to your services.
How to Get Started
It makes sense to narrow your market by choose a niche in which you already have experience, talent, connections and an understanding of their needs. This won’t reduce your need to study and research the market, but it will give you a good starting point.
Don’t let fear hold you back from narrowing down your market. Fear of leaving money on the table, or that the niche may not be big enough to find enough clients. Fear that you won’t be able to penetrate the niche. For the most part those fears are unfounded, if you’re willing to put in time, effort, and consistency. There is likely more money to be made being a big fish in a small pond, than being a small fish in a big lake. Focus, focus, laser sharp focus!