Are You Making this Critical Niche Marketing Mistake?

When you try to sell to everyone, you run the risk of selling to no one.

Not knowing your niche market can cause you a lot of wasted time and not create any results for your business.

Do you know the difference between your Niche Market and your Target Market?

Many times these terms are used interchangeably but actually there is a difference between the two.

Niche Marketing
 

Concentrating all marketing efforts on a small but specific and well defined segment of the population. Niches do not ‘exist’ but are ‘created’ by identifying needs, wants, and requirements that are being addressed poorly or not at all by other companies, and developing and delivering goods or services to satisfy them.

As a strategy, niche marketing is aimed at being a big fish in a small pond instead of being a small fish in a big pond. Also called micromarketing.

big fish small pond

Target Marketing

Identifying a target market after detailed research, and developing specific marketing campaigns focused at it.
A target market is a particular market segment at which a marketing campaign is focused.

Target Market

In other words your target market is the group of people you serve.

Your niche is the service you specialize in offering to your target market.

For example, you and I may both serve the same target market, but offer them different services. You might specialize in getting customers and I might help them create systems for their business.

It’s important to remember that a niche is a group of people with a specific interest, a specific goal, even specific challenges.

So, before you begin marketing, know your niche.

And know it well.

Everything about the people in it.

You want to know who they are, what they do, what they want, and the problems or challenges they might be facing that could be stopping them from getting, reaching, or achieving it.

Remember that smaller is bigger in business, and smaller is not all over the place; it’s highly focused.

Here’s a couple of things you can do to help find your niche.

1.  Create A List
With whom do you want to do business? Be as specific as you can. Identify the geographic range and the types of businesses or customers you want your business to target. Know and understand their language. If you don’t know who you want to do business with, you can’t make contact.  You can’t do business with everyone so narrow your list down.

2. Focus.
Know your products, remembering that you can’t be all things to all people and  smaller is bigger. Your niche isn’t the same as the field in which you work. Know your potential customer. Make sure that if you are going to sell something, that its to someone who really wants, & needs, what your offering.

Now that you have your niche you need to write a blog. This goes along with educating your market. A great blog educates your potential customer (whatever your niche is) and shares how your tools can help the customer.

You can share testimonials, offer tools and training, and giveaway information that is targeted to your niche.   Make sure you update your blog regularly. A blog that hasn’t been updated in months sends an immediate negative impression, regardless of how much good content you have to offer. 

If you are using content marketing and using a Viral Blogging System like many of us do to make money and you are targeting people who are looking for new ways to make money from home you should be offering products that teach people how to do that.

Finding and knowing your niche is an important step in building and growing a successful business.

When you try to sell to everyone, you run the risk of selling to no one.

Would love to hear your thoughts on this.  Comment below and share.

The best way to learn more about niche marketing your home based business, is to be a part of a community that not only teaches it, but shows you step by step exactly how to do it.

Click here to find out more.

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