A long time ago (but not in a galaxy far away), I did a degree in Marketing.

Compared to today, that marketing world is almost unrecognisable – predating the internet and digital marketing as we know it now.

…but the thing is, the more that the world changes, the more there is a need for sound fundamentals to fall back on and to give you confidence that you’re doing the right thing.

…and one of those fundamentals is the power of focusing on a niche.

THE POWER OF THE NICHE

When you niche down into a specific area or marketplace, your message becomes amplified and focused.

It resonates with the people it’s targeted at and is more likely to get them to take action.

…and it works, my own business niched into Mailchimp 4 or so years ago and it was the best decision I ever made (albeit a scary one!).

…and for you to succeed, niching down and knowing your specific customer is essential.

THE WORLD IS A SMALLER PLACE

When most small businesses start out, their niche is primarily geographical – they service a particular area/region.

…However, in a world that has gone digital, in many industries, geography is no longer a barrier, and you are competing with people outside your area (even outside of your country).

How will you stand out from other businesses that do the same as you?

That’s where the Niche really makes a difference… because if you narrow down your focus into a specific area, its much harder for someone to compete with you.

An Accountant that specialises in working with coaches & consultants will have something that makes them stand out, over and above the “average” accountant who has no speciality, when speaking to a coach or consultant.

NICHING CAN BE SCARY

One of the biggest objections I get when I start to talk about niching or picking a specific target market is the fear that you’ll be missing out on other business that you could service who aren’t in your chosen niche.

“If I focus on sector X, won’t that mean I’ll miss out on sector Y?”

This fear is real, because when a business is young, the fear of missing out on any business is tangible.

There are however 2 problems with this.

1. What makes you think Sector Y people would pick you anyway?
2. There are already more than enough people in Sector X that you can support.

Niching down into a specific target market can be scary at first, but very quickly after, it will becoming liberating and make your marketing so much more powerful.

YOUR NICHE IS YOUR TARGET MARKET

I’ve used the word “Niche” extensively, but ultimately it’s the same thing as focusing on a Target Market.

Knowing your target, getting inside their heart and mind, learning their worries and fears, hopes and dreams will ensure that your marketing message resonates powerfully and is more likely to get them to take action.

…and remember, you don’t just have to have one niche/target market.  Over time you can have several, with several Customer Avatars to represent them and help you to get to know them intimately.

Just make sure you start with one and drill down into that one – do that, and your chances of success will improve massively – I know this because I did this with my business just over 4 years ago.

HOW NICHING WORKED FOR ME

I became a self employed marketing consultant in the summer of 2011 and proceeded to get involved in a variety of different areas, building websites, making videos and helping with paid advertising (including getting to know Mailchimp too).

None of these gained any real traction and business was tough… until I decided to focus and niche down.

I’d done some research into Mailchimp, and realised that although there were some businesses out there who “handled” it, there weren’t many, if any, that were purely focused on it.

There were a few non-english Facebook Mailchimp user groups, but nothing substantial.

PRACTISING WHAT I PREACH

Once I realised that there was a niche/target market that I could specialise in, that didn’t have many direct competitors, and that I enjoyed working in, I knew it was the right sector for me.

I launched the Facebook Group, Mailchimp Answers, 4 1/2 years ago at a live event and have seen membership continue to rise and it become a “go to” place for Mailchimp users around the world.

…In the last day or so, we tipped over the 10,000 member mark!

Plus, my business has developed and grown during that time as I became known for helping businesses use Mailchimp effectively.

…all because I picked a target market and niched down.

NICHE TO WIN

I fully understand that some of you reading this will be skeptical of the power of niching down.

You’ll create a variety of reasons why you can’t do it, and why you’re business will suffer if you do.

…The simple fact is, by picking a target market and becoming highly relevant to that market, you will improve your chances of success.

Don’t pick a niche randomly, do some research, understand the market, the competition in it, and how it matches with your skillset.

…Don’t ignore the power of the niche… it could be the best thing your business ever does – I know it was for me.