Unexpected Company: The Niche Problem | Comp.15

Some of you might enjoy unexpected company, but it’s likely you don’t. These days uninvited guests are considered to be intrusive most of the time. But the kind I’m referring too can make growing your business a real struggle. The root cause of all of this of course is the niche you do business in.

Even though we are trying to get a lot of exposure for our business and get those numbers up in our list builds and social media accounts. By casting a wide net, we might end up with the wrong catch.

There are 2 types of unexpected company I want you to be aware of.

The unexpected follower

This person found you, followed you and possibly got on your email list because for a moment the very unique thing they were searching for somehow fell under the umbrella of your niche. And this can happen many ways.

  1. Your descriptors and bios might be a little too broad
  2. Your content accidentally reached beyond your niche
  3. You participated in a joint venture or event that was not the right fit.

One way or another these people are not going to make your business improve. If getting those vanity numbers up make you sleep at night, good for you! You’ll need that sleep because nothing was gained, and you’ll have plenty more work to do in the future.

It is a challenge to acquire a lead and convert them into a paying customer. But it is almost impossible to do the same with a mismatched lead. You will be reaching out, trying to build a connection that will never happen. Your email open rates will make you depressed and you might be paying a bit too much in monthly fees to manage a bloated email list. And then there’s the unfollows and unsubscribes. If they happen in large numbers, you’ll start to think everyone is abandoning you.

The time and money used to gain these leads will be a sunk cost and the audience you think you have will be just a distorted version of reality.

And the second…

The unexpected competition

When you’re not niched in you need to consider that the broader you go, the size of your competition will grow too. Oh yes, if you go for a larger market share than you should, be prepared to face competition that is bigger, faster and stronger. They may have started way before you and built a reputation that has a good grip on the market. Their content can make so much noise you will be drowned out and unheard. The fantasy of going for that huge market becomes a nightmare. Because you weren’t ready and didn’t realize how niched in or specialized you had to go when you were starting out.

I know it sounds dark, but it’s a situation that has occurred over and over. It eventually gets learned. But how do you want to learn it? Do you need to go through it yourself or can you take some good advice and try to avoid this all together?

Here is what I suggest you do.

  1. Take a good look at who it is you are trying to help or serve and see how detailed you are when describing them. If your market still seems massive and not specific enough. Take it to the next level of detail.
  2. Be very consistent with your content. Do not cross over into other areas that are beyond your niche. It won’t help the ones you hope to serve and will only attract the wrong leads.
  3. Don’t participate in events or joint ventures that are vague or niche adjacent. If it isn’t within you circle of competence, then there is no point. You’ll be wasting time creating content that will serve to help someone else’s goals, but not yours.
  4. Don’t mimic the competitions message, it’s not your message! If it’s not your message, then they aren’t you people. There is almost no success with a look alike business online. If there is, it will be very short lived.
  5. Purge the people who never open your emails. That’s right save yourself some cash and emotional torture and let them go, they aren’t there for you anyway.

The whole subject of NICHING IN is huge, it’s difficult to see sometimes unless someone points it out. It has lots of symptoms and most of us have experienced them and not understood them or their origins. So, if for some reason this article has made you mildly aware you have a niche problem, then I hope some of my points help you resolve it. If you need more clarity about niching in further or want an example, just reach out to me.