Finding your niche is essential and what is crucial to the success of your business is truly knowing your niche market.
Absent this knowledge of who your business is serving means that you likely wouldn’t be able to find these people and therefore, won’t sell anything to them.
Wealth Strategist and Bestselling Author of Secrets of the Millionaire Mind, T. Harv Eker, spent many years in the trenches to discover the secrets to creating millions in net worth.
When he realized what he was doing wrong, he corrected his focus and started sharing what he had learned with others so they could avoid the pitfalls that were keeping him broke.
While doing private consulting, he discovered that 80% of his clients were making the same critical marketing error which cost them greatly and didn’t make their businesses any money.
You don’t need to stay in that category, so if you’d like to optimize your sales success, explore with us what Harv says about finding your niche and where to place your focus.
Let’s take the existential question… “Who are we and what the heck are we doing here…”, apply it to your business, and then call it ‘marketing’.
“What am I about, and who should or would care?”
Now file this entry into your “I already know that” bin.
Is this not the case with so many of the things we think and say we know?
“Oh, I already know how important marketing is.”
According to Harv, the only significant contrast is between those who ‘know’ and those who effectively and consistently apply that knowledge.
When you see the same reiterations that start to sound like a broken record here, trust this…
The repeating emphasis serves as a reminder that there are certain areas of your business you absolutely MUST get right - or stay broke...
Marketing, says Harv, is one such area.
No matter how many times you may have heard it.
No matter how many times you may have looked at it.
Harv insists that you must relook at it.
Tighten it.
Tighten it yet again.
Then tighten it some more.
He adds that the stronger you can tighten down your marketing, the better off your business is.
You’ll likely discover different things and learn ways to improve your marketing potential during this process.
So what does this mean… ‘your market’?
Going back to basics, Harv mentions that your niche market is the people who are ‘most likely’ - note the emphasis - to invest in or buy your services or products.
One of the most common and biggest mistakes most people make is when they try to be too many different things to all and any potential markets, Harv says.
The result?
They eventually end up being no-thing to everybody and no one.
Their message isn’t clear, their solutions are not obvious and their results reflect the void.
Trying to be everything to everyone is a hard way of doing business.
Stop it.
"But why?"
Trying to reach the masses is extremely expensive, and not a good use of your time, resources and talents, warns Harv.
When your marketing message is dramatically watered down in an attempt to gain broad attention, it will never land the impact you desire.
It’s really tough to focus on the value and stay tight with your offer when you’re overwhelmed, he adds.
Here’s where Harv says self-awareness is key.
While your ego mind is saying “More is better!”, the truth is quite the opposite when your marketing strategy relies on effective execution…
Less…
Tighter…
More focused…
These, accoarding to Harv, are better!
Harv suggests that you focus your marketing plans on two arenas:
1 - Who are you selling to?
2 - What is your product?
What precisely is it that you do for a specific person or group of people?
Who must see your marketing message?
How do these people or groups perceive you?
Are you creating the perception that you’re a specialist to this particular group of individuals?
Because if you’re not, Harv assures you that this uphill battle is exhausting, expensive, and ineffective.
The secret is being the big fish in a small pond.
The key is to pinpoint your very specific niche market which are your best or primary prospects, he adds.
The deeper you’re able to define your market, the more information you know about these groups, the easier it is to find them, and the better you are able to serve them.
The purpose of marketing, according to Harv, is to find these people and to let them know exactly how you will serve their needs.
If you intend on becoming exceptional at marketing, then Harv urges you to genuinely embed this within you, with as much sincerity and energy as you can muster:
“If you can’t define them, then you can’t find them.”
Once you’ve determined your unique product or service and succeeded in finding your niche market, Harv says it’s time to get creative and apply effective marketing tools!
Many people don’t understand the significance of this phrase and still apply it to only a small portion of their lives or when they’re at war.
Nobody has all the answers and targeted, committed focus truly is the only way to achieve your objectives but for this, you have to know yourself, know your product, and know your audience.
Certain groups of people will gravitate towards certain solutions because different things appeal to different people.
Decide who you are and what group of people you’re in alignment with as regards the value you wish to add to the world.
The simpler the message, the better.
When you have a clear message, you build trust with your niche market and they know they won’t have to fish around to figure out whether or not your product or service is for them.
Finding your niche market is simple when you know the value you offer, and where to find the volume of people to offer it to.
KNOWING eliminates the common suspicion that all marketers are sleazy as well as the need to know how to hard-close deals.
There is always more to learn not only about new potential customers but about how your marketing strategies can continuously evolve - get the formula right!
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Has your Mind ever wondered…
Finding your niche market requires focused awareness… of self, your value offer, and your prospective clients.
Researching the kind of person who would need or want what you have to offer is essential so you would know how to appeal to them in your marketing message.
Know thyself first, as you will enjoy higher success when you’re in alignment with your services and products.
This in turn will align you with your potential client base as well, and it is key to know the needs and wants of your customers to know how to best serve them.
Therefore, focus on an area that you are very familiar with, have knowledge and expertise in, and from there, branch out on the sub-categories that fill the existing needs.
Using a strategy to define and target your niche market includes focused attention to details around your business, product, and marketing message.
The objective is to attract specific groups of people who are most likely to be interested in what you have to offer.
Focus on a narrow category that would benefit from your value offer.
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