Hey!! If you are an entrepreneur I’m sure you have heard of the term niche and maybe have even been told you need to niche down to become more successful. And if you are a new entrepreneur or never heard of the term niche you found the perfect video because I’m covering all things niching(not sure if that’s a word but we’re rolling with it.
So what does it even mean to niche down? When I see niche down it means to have a clear idea who your ideal customer is so that you can align your marketing efforts to that client.
What niche down does not mean(may not be what you have heard before)
- Not only offering one product
- Not only focusing on one marketing platform
- Not turning away clients/customers that are outside of your niche
So, now that we understand a basic definition of niche down let’s talk about how to niche down to benefit your business.
If you are like me niching down feels like an impossible task. I’m a multi-passionate person, when I offer a service or a product I just know it’s going to help everyone, so everyone is my audience right? Well, no.
When you try to market to everyone you can’t always market as successful as you would like. Take me for example, I started my YouTube channel to help all entrepreneurs, I didn’t care how old, how young, how long they’ve been in business, I was going to help everyone. And if someone wasn’t an entrepreneur I was going to share all the benefits with them.
So what did I learn? I couldn’t set up a marketing plan that fit so I wasn’t reaching the people that I really wanted to help.
So how do you niche down?
Figure out who you love to work with, your ideal client. I don’t believe in the beginning you need to worry about taking a deep dive into all the demographics. I do believe that choosing male or female is important, that doesn’t mean if you choose females than you can’t help males, and I think that’s one of the confusing parts for some people.
So I learn better with example, I’ll share characteristics of my ideal client:
- Age range 25-40
- New entrepreneur or aspiring entrepreneur
Once I figured out my ideal client I realized I described me when I first started in entrepreneurship. Knowing the struggles in the beginning made me want to relieve that for other new female entrepreneurs. Your ideal client doesn’t have to be a version of you at all, that’s just how it worked out for me.
So you have your ideal client, so that’s it right? For some people who are focused on one product or service, yea maybe, but for me and most entrepreneurs NOPE!
Now that I have my ideal client I have 1000 things I want to do and create to help them.
And instead of me niching down more I went crazy with creating some really amazing things, but I didn’t focus on one thing at a time. Are you that person who thinks they can just do it all, you know the one that carries 27 grocery bags up the steps, yea, me too.
So my multi-passionate people, here’s what we do!
Make a running list of ideas, I prefer to use a notebook but use what works for you.
- Notes app
- Word Doc
Once you have a list, and you can always keep adding to it, you have to figure out three things:
- What ideas would you like to do?
- What ideas will generate income?
- How long will the idea take to come to life?
You don’t want to burden yourself with ideas you won’t enjoy just because you saw someone else successfully do it.
Your ideal client/customer will have many pain points, you don’t have to solve them all. Find the ones that you will be good at solving.
As you progress in your business you may find the need to niche down meow but I say in the beginning keep it a little more simple. As you grow you can look at the demographics for your audience and make changes based on that.
This will help dramatically with your social media marketing.
So figure out what idea you are starting with and run with that. Set a goal for that idea, if it’s a YouTube channel maybe the amount of monthly views, or amount of subscribers. And don’t go back to your idea list until you hit that goal. Give your great ideas the time and attention they deserve so they can be successful. Your idea list will always be there.