When you’re just starting out, most new entrepreneurs think it’s counterproductive to cater to a smaller audience because you will be turning away people that potentially could have become clients. I have an answer for that!
When you’re just starting out, or if business is slow, you’re basically starting with nothing to very little. So, what’s the difference?
Online businesses don’t work the same as brick and mortar businesses. They work mostly off of “location, location, location”, where online businesses succeed because of “content, content, content”. Even though your business is parked in a location online (your website URL), it doesn’t mean you necessarily have any foot traffic, and the location of your URL is no more conveniently located online more than anyone else’s.
Your content is what will make you stand out online, and that’s why it’s so important that your business should be niched in and your content should prove it.
In order to be the right product or service for your potential client, you need to be very specific as to what problem you solve, who it’s for and why. Without being that specific, nobody is going to think you can specifically help them.
You could spend your time talking to a wider audience, hoping there are a few people in the crowd that believe you have something they want. But that’s a lot of work for very little reward. The chance of you finding the right clientele is slim.
When you’re very niched in, your message is like a beacon to the people who would benefit the most from what you do. It’s like your connecting with people more directly and precisely and they feel that what you do is a fit for their need or problem.
But the most important part of being VERY NICHED IN is… You reduce the amount of competition you will face. Not by a little, by a lot!
When you’re one of only a few entrepreneurs, if not the only one that offers what you do, then you’ve put your potential client to a decision with very few different outcomes. When you’re super niched, it makes it easy to stand out if it’s just you and 5 other providers in your niche, when you’re not niched in, your competition could easily be in the thousands. And in that bigger pool are some very established, reputable people from which you will never truly stand out.
the key is to start niched in where you can be front and center in a very small market segment. It will be much easier for you to become the leader in that segment in a shorter amount of time, and then you can start to expand to adjacent segments with your market leader reputation in hand.
The best part is, if you’re great at the very specific thing you do, you will find raving fans in the very specific niche you do business in. Raving fans are the best way to get word of mouth marketing, excellent reviews and referrals, not to mention (depending on what you’re doing) repeat customers.
It pays to NICHE IN to STAND OUT!