Is Your Niche Market Hiding From You?

21st April 2020
Lucy Cameron

You know as well as anyone that there’s a TON of content out there, and probably some of it is similar to the content you’re creating and trying to share…so how do you make yourself stand out? You start by finding your “niche market,” otherwise known as your “target audience.”

Even the smallest businesses can succeed and effectively compete against large companies if they have a well-researched audience base and a strategy to target them through content and advertising. The biggest hurdle you need to overcome in order to understand target marketing is that you CANNOT be general in whom you want to target. In other words, when asked, “Who is this product or service for?” your answer cannot be, “Everyone!”

This is the answer many new business owners and entrepreneurs have when they first begin, but this is a rookie mistake, and these people quickly learn that this audience of “everyone” is truly not realistic.

Why not? Because in order to effectively advertise, you must know where your audience is already looking. You must grasp WHY they care about something in order to create content that resonates with and speaks to them. In order to succeed with marketing your product or service in the current economy, you MUST be specific and you MUST do some strategizing. Of course, you can have more than one niche/target market, but the more specific you can be, the better.

Are you ready to get started?

There are several steps you have to take in order to identify your niche market. In layman’s terms, you must get into their head.

Some strategies to help you achieve this include:

  • Make a Wishlist – In marketing, this is called creating a “customer avatar.” You’re trying to figure out with whom do you want to do business with. Be as specific as you can and identify EVERYTHING you can about the type of (hypothetical) person you want your business to attract. This should be fun! Come up with their age range, gender, location, fears, values, education levels, or anything else you think is important. (For a template, check this out: https://bit.ly/2qT0KLB)
  • Check Out Your Competition – As I mentioned before, there’s likely at least one other person out there trying to do what YOU’RE trying to do. Find them. See what they’re succeeding with, and what they’re lacking. Learn from it.
  • Evaluate Your Decision – Walk away from your research, perhaps take the night to sleep on it, then return and take a second look. Ask yourself these questions:
    – Are there enough people who fit my criteria?
    – Will it be easy to sell my product/service to this target, or will they need convincing?
    – Do I understand what drives my target to make decisions, or do I need to do more research?
    – Can my target afford my product/service?
    – How accessible is it for me to reach this target?

Lucy Cameron: IQ4 Business

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