Apr 22, 2021
Narrow the niche down or not is a timeless problem for most entrepreneurs. If you are just starting out your business, you probably ask yourself the same question. Most entrepreneurs are afraid to pick a particular area because it can decrease the number of potential customers or business opportunities.
But we are here to prove you different. Niching down is critical for business and here are 5 main reasons that will change your mind.
Niching down will decrease the number of potential customers, but it will definitely increase the number of actual-ideal clients. It will help you build a strong avatar portrait and better target your audience. But it is not only this.
A business that concentrates on one specific niche always attracts its true clients. It’s easier to trust the quality of a product when the perfume brand specialized only in perfume than a brand that produces every product of the beauty industry.
Narrowing your niche down gives you a great opportunity to understand your brand’s weaknesses and strengths. Analyzing the market and its competitors for building an offer will be easier than in a wider business area. Because of this, your message will be clear, blunt, and consistent allowing you to be confident when you show up. And being confident about your own brand & product and show up consistently leads to more sales.
NOTE: Join Storytelling In Digital Age Masterclass to learn more
about how you can attract and engage your ideal customers
through the art of storytelling!
One of the advantages of niching down is smaller competition. It doesn’t mean you can get on top without a fight, but the route to success can turn to be shorter. By concentrating on one industry your attention won’t be spread far and thin, so you can focus on improving your skills. Let’s take an example.
Imagine you have a restaurant. It is better to narrow your niche down to a specific cuisine or even a dish like making pizza. Then you can focus on improving the recipe and developing a small but exquisite menu. That’s what you can’t tell about restaurants with multiple options of dishes that offer Italian, Arabic, Japanese, and many other cuisines.
But you already know it. Because when we want good cheesy pizza the first place to pop out will be a pizza place. At the same time if you want to spend your evening with a glass of Negroni you won’t seek it in a pizza restaurant.
Settling for one business direction gives you an opportunity to become an industry leader. By focusing and expanding one particular niche, you will have a clear understanding of who you serve. That will help you build an effective offer that will deliver the right message to your ideal clients.
By understanding your clients’ needs, you will gain more recognition and trust around your prospects. The more they trust you, the more they want to work with you.
If you just starting out, we recommend concentrating on one niche, but it’s not a sentence! The important thing to remember: narrowing down your niche doesn’t mean narrowing down your product. You can always expand the industry, experiment with an offer, and improve your product based on your customers’ needs.
Narrowing your niche down will only help you connect with your ideal customers and give lots of opportunities to grow. if you still consider if it is the right decision for your business, join our StoryTelling in The Digital Age Masterclass to get perceptive marketing insights.
In Storytelling in The Digital Age Masterclass we answer the next questions:
How to tell your story online?
How not “feel dirty” after filming a sales video?
What tools work best in today’s digital marketing?
How one powerful story can change your entire business and maximize your profit?
How to get the right audience?
How niching down will help your business?
Sing up now and get access to James Cook Media case examples and to the Bonus Lesson about building your funnel!