Who is your target market? What is the value you provide? “Trying to market to everyone who could possibly buy your products or services, will water down your message, and actually repel potential clients,” says Pamela Slim, author of Escape From Cubicle Nation. For example, Martha Stewart targets women and homemakers. Steve Jobs? The hip and cool computer user.
A niche is a focused, targetable portion of a particular market. Defining a niche starts with defining what is your core purpose and the inherent promise you are making to your customers and how you deliver value every time.
You may think marketing your business to the widest possible pool – trying to be all things to all people – is your best chance to succeed. Not so! The truth is that by trying to appeal to everyone, you often wind up appealing to no one. Your “best self”- your personal brand – needs to become visible in the networking arena. Define your best attributes. When a brand stands out with a strong promise that delivers value consistently, the value of your offering increases and customers will be willing to pay more for your products and services.
One of the biggest challenges many businesses face is defining their identity or their niche. You cannot be a jack of all trades. Spread yourself too thin and your business will suffer. Your business identity tells potential customers more about you than anything else! You are competing with a lot of noise in the marketplace to get your potential customers’ attention – and their business. If you stand out with a unique benefit – your niche specialization – you are a lot more likely to get noticed because you are distinct from your competition.
What do you do better than anyone else? What is the best way you can help others? What kind of word of mouth marketing can you design that will give people a reason to talk about your products and services? Do you have outside voices clamoring about the value of your products or services? How do you create buzz about what you do? How do you define your market? What is it that you do differently that causes you to stand out from the crowd? Do you know how to brand yourself and your business? How do you position yourself as an expert in your niche?
What are the people who make up your networking family looking for, thinking about, and talking about? What problems are they having that you can help them solve? What do you want to be known for?
When you define your niche market, your vision clears, your options narrow, and the extraneous falls out of view. Focus.
Once you define your niche and position you and your company as the experts, there is no limit to your business growth. You must define your niche in order to grow your business and grow your profits.
Copyright © 2010 – Larry James. Larry James is a Professional Speaker, Author and Coach. He presents networking seminars nationally and “Networking” coaching by telephone or one-on-one. His latest book is, Ten Commitments of Networking: Creative Ways to Maximize Your Personal Connections! Something NEW about Networking is posted on this Networking BLOG every 4th day! Visit Larry’s Networking Website at: “Networking HQ!”
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