Marketing Tip: Is niching down your business actually smart?
Is niching down your business actually smart?
I have some news for you that’s different from what most other coaches are saying.
Typically coaches tell you to niche down to a highly specific topic.
For example if you sell herbal cosmetic products, do you sell lotions, soaps, serums, shampoos? Let’s say it’s shampoos. What kind of hair do you sell shampoos for? Curly? Straight? Dry? Oily?
The theory goes that the more specific you get the more credibility you have and therefore the more people will buy your service, because it is specifically for them and solves their niche problem.
Niching down can be super helpful because it makes your messaging much clearer and actually gives you much more to say because suddenly you know exactly what your target person is into, what they relate with, and what their problems, desires, and lifestyle look like.
But! There’s a catch. You can work yourself into a box by niching down too far. You can also get stuck for years spinning around on the hamster wheel trying to figure out your niche rather than just starting something, getting feedback as you go, and adjusting into a more refined direction.
So, before you start obsessing about niching down to an extreme degree, start by figuring out what you’re the best at in your field, offer that, and then figure out: do you need to get more specific or open up and broaden your offerings?
This is a living practice people. Running a business isn’t a one time figures out all solutions kind of thing. Let it evolve organically!
