Are you currently a one-stop shop that offers services from A-Z? Are you a jack of all trades and a master of none? Are you a “yes we can do that” company? You can’t be everything to everyone, and if you try to chase after every single demographic, you could be wasting valuable resources and time by dividing your attention. Niching down can apply to any size of business, especially if you are a small business owner, and it can make or break your business.
It is in our nature to think that casting a wider net will result in greater opportunities for sales. In reality, catering to a defined customer base can create more successful transactions, the right customer relationships, and powerful referrals. These are my five reasons why you should NicheDown™:
It’s impossible to offer the world to your clients because most of them don’t want the world. Give your business an identity – specify it. What is your best skill set? What services/products do you love offering? What services/products do you hate or have low ROI? (Ditch the clutter.) What is your favorite type of problem to solve for your customers?
Asking yourself these questions will help you start narrowing down your offerings and find your niche. My mantra is “Be an Absolute Original!” What is the one thing that you offer that others do not in your market? That is what will make you stand out from the crowd. And remember: If you don’t follow the norm and DO different, people will talk! Not all gossip is bad, add fuel to the fire and get people talking about your business!
The more you learn about your said niche, the better expert you’ll become. Which means people will start to know, refer and talk about how you’re the go-to person for your particular niche!
Learn not to tell people you’re the best. SHOW them! Create content and information about your market and educate your clients on how your business works, how it can be most effective to in turn make them more successful. Be more than just a service, provide them with an experience.
You may think niching down narrows your potential clients, but it can produce the opposite effect. The more specific you can get with your niche, the less competition you will have in your market.
Say, for example, you offer video editing services. Instead of offering editing for TV shows, promos, movies, etc., you can NicheDown™ and just offer promo video editing. You will be able to focus, and be known as the go-to person for promo videos. How do I know? I did it. Once I stopped taking the jobs I dreaded, i.e. long form video editing, I became really proficient at creating promo videos and did it twice as fast, and with more flare than other experts in my area!
Guess what? By niching down you have already begun to market your brand! You will gain valuable insight into your ideal clientele by using your new specialization to establish your target market.
I like to call this a reverse Catch-22 because it locks you into a marketing circle by simply being a niche! Now we understand why being an all-rounder could put you into dangerous territory: it distances you away from a target market that could potentially benefit from your services. Once your customers begin to value your services, they’ll never want it to end!
By catering to one target market and finding your niche, you will naturally generate better all-around experiences with your clientele. This inevitably leads to great referrals and, the best news of all – it connects you even better to the target market you want! Seems like the formula for a thriving business!
Once you have a strong understanding of the four points above, this final reason will be the deciding factor of whether your business will be able to succeed or not. You must be able to deliver and execute accordingly! If your clients are happy with your service, they’ll have no other reason to bother with your competitors when they have you!
There’s nothing like being genuinely proud of your brand and wanting to share it. Your brand should show off your confidence, your awesomeness, and should ultimately bring you success. Play to your strengths, do the things that get you up in the morning. Separate yourself from the pack and be that go-to person in your particular market in this noisy world. NicheDown™!
Tenille Villebrun created Brand Overhauls after creating countless promo videos for different companies. She realized everyone requested the same inside-the-box video: cheesy ukulele music and interviews cut with very specific b-roll. She was screaming “this isn’t shareable!” and helped steer people away from the “typical”. Tenille now helps solopreneurs bring their visual brand to life, and creates something they are proud of and LOVE! Her mantra is to be an “Absolute original”, not a trend follower.