Intro: The last step is to do your research. Talk to your ideal customer, learn from them. Spend time online learning what you can about them. Are there general characteristics they exhibit? Do they tend to come from one generation? Are the common beliefs that determine their purchasing decisions? This is where you’re going to want to spend a lot of your time doing old fashioned research and learning as much as you can.
Episode: Hi and welcome to episode 27 of Startup Marketing. Today we’re going to be talking about why having a Niche is important. A niche is simply a narrow or specialized audience for your products or services. Having one is important because first and foremost, you can’t do everything for everyone and second, it makes it easier to describe what you do and sell.
Ok, that’s it! End of episode! Just kidding. Not quite. While that is why having a niche is important, let’s talk through some of the more nuanced and less obvious ways having a niche can help your business.
On the surface, like I said, having a niche is important because you can’t be all things to all people. I’ve said this before in my branding-focused episodes, but seriously, it’s impossible to do this. Trying to cater to all the possible wants and needs in your industry isn’t realistic, and when you try to do it, it’s going to leave you burnt out.
Take me for example. There’s a lot I could talk about within the marketing industry. From branding and strategy, which is what I focus on, to social media, to digital marketing, to graphic design, pricing, public relations, and on and on. There’s a lot I could be talking about. And even though I know a little about each of those topics, I’m an expert in branding and strategy. I get a lot of requests to help people with their social media and social media advertising. Now, I know a fair amount of social media because in my former corporate life, we did all of our social media management in house. So I know enough to create a solid social media prescence, creating a content calendar and managing it. But, when it comes to social media strategy and really digging in to that, I’m comfortable doing it for myself, but it’s not something I would charge clients for. Why? Because it’s simply not my area of expertise. But if, I were trying to be all things to all people, I would be trying to do it and it would likely leave me burnt out and stressed because it’s just not where my strengths lie. And when it comes to social media ads, I outsource those things even for myself, so it’s really not something I would want to take on for clients. It would be easy for me to tell potential clients I could do it for them, because, in theory, I know how to do it and I’m capable and knowledable enough to learn what I don’t know, however, that’s not the best use of my time. By niching down in to branding and strategy, I’m eliminating the clutter for myself and for my potential clients. For me, it’s means there’s less to do in order to run my business. If you’re familiar with running a business, you know there’s never a shortage of things to do. When I’m focused on just a specialized niche, it allows me to be more