Why you need to identify your businesses nicheJanuary 23, 2023
I’m going to share something you may have experienced, and it’s important, because it might be the reason you want to discover your businesses real niche. You started a business with a great idea. Maybe you were going to use the skill and experience you have gained and offer them as a service. Or, you thought of a great product that is useful or desirable. This is how you started your entrepreneurial journey. But it probably wasn’t smooth sailing, and that is completely normal.
The one thing that might have felt abnormal was the struggle to make sales. More specifically, the sales you were expecting or needing. You thought the marketplace would embrace your offer and would be as excited about it as you are. This also is completely normal.
The problem that you are having is simple, you haven’t found the optimal way to connect with the people who would gladly pay for your product or service. Therefore, you need to know how to discover your businesses real niche. You have a good idea who is your ideal customer, and you kind of know your market. But, to do better, and go faster, it’s best to go right at your real niche.
Your real business niche is a detailed description of the ideal person who would be a raving fan of your product and would likely value it the most.
They would feel that your product or service has resolved a problem or fulfilled a desire perfectly. For you to connect with this person it comes down to the words you choose so they can discover you and hear your message about your product. The only way this can happen is to say the right things so you can capture their attention long enough to recognize that you have something they need or want.
I’m going to share with you are 4 main things you should take some time to think about and write some notes. Those notes will help you create a better message for your business and improve your content, social media posts, ads, blogs, and emails. The discovery of your businesses real niche is hidden in plain sight. You have the answers, it’s just a matter of prompting you to get them out of your head.
These 4 questions should be answered honestly. For them to be useful you must try to answer accurately. Don’t make the mistake of describing who you want to sell your product to instead of who it’s really for. You’re not going to gain anything from this if your answers are describing the wrong group. You’ll discover why it’s important to identify your businesses niche.
1. What is the specific problem your product or service resolves, or what specific desire does your product or service fulfill?
Don’t be vague, be detailed. If you are an accountant that does taxes, don’t just say “I do people’s taxes, so they don’t have too”. A better answer for this would be, “I do taxes for individuals who don’t have the ability to submit them on time and they are unsure of all the tax credits available to them.”. That’s a clearer picture of why you are operating your business, because is describes the problem clearly. And there can be many problems that any business can solve. If you have 10 things to say about your business, write them all down.
2. What does a person feel when the problem your product or service solves remains unresolved?
This should be easy to answer as you probably already though about this when you started your business. Maybe you had a eureka moment and you could see the problem and the solution and then went on to create your product or service. What exactly is does someone feel when they have a problem that your business solves? Are they stressed, overwhelmed, confused, or tired? Are they yearning for something? The things they feel are the things that will motivate them to be a buyer. It’s a big part of the niching in process.
3. What type of person would be affected the most by the problem your product or service solves?
Who is that person you picture benefitting from what you have to offer? You might have a specific age, or gender in mind. They could be a professional or executive. Maybe they do the important job of taking care of there family. You should think carefully about this. This person is affected the most by your answers from question 2 and knows the most about your answers to question 1. If your business was helping people become more employable, there is no doubt your person is unemployed. You can get detailed as you like. One thing to be careful of. Sometimes entrepreneurs start businesses based on a problem they resolved for themselves. If you are the perfect description that person, great. Just be careful and be a aware their might be others more affected and there could be opportunity to create a better description.
4. Where and when is the best place for the person you described to encounter your product or service to captivate their attention and give them the ability to find it and purchase it?
Based on the answers from the 3 previous questions, the answer to this becomes easier. You know everything about what you are selling, so you know what the best way is to sell it. Some products need to be on a shelf in a specific store. Some need to be on display at the right events. While others need to be placed or promoted in the right spaces. Where would the person you described likely to see your product and recognize it as a problem solver for them? Before you answer, social media is not the answer to everything. Not everyone is on it or uses it the same way. So be careful not to choose something that you think captures everyone’s attention, there is no such thing.
These 4 questions can help you discover your businesses real niche if they are answered accurately and honestly. Most importantly, they give you the words you need to use in your content, promotional items, videos, and social media that will help identify your ideal customers. These words help you describe exactly who it’s for and what it’s for. When you talk openly about the person your product or service is perfect for you are capturing that person’s attention in that moment.
Whether you are selling something online or in person, the words you use are still your most effective tool for getting their attention. Getting that attention involves people recognizing themselves in your message.
They start to realize that you know about them and their problem, it’s like you are talking to them directly. When this connection happens you are communicating on another level. This is exactly what you want to be able to do when you are trying to make sales. Your product belongs in the hands of the people who need it the most. You can those people when you niche in.
I hope this short process helped you improve your niche targeting or at the very least a better understanding of the impact of niching in. It’s a micro coaching of what I do. Getting clients zeroed in on their ideal customers vital to any business selling anything. Without it, there is a lot of wasted time, money, and energy. It’s foundational to clearly discover your businesses real niche so all your efforts going forward are efficient and effective.