How to determine your brand’s niche market
Deciding to define yourself within narrow boundaries is a very key part of being able to market your business effectively and charge well for it. People like to work with specialists. Without a niche, you are just one more voice shouting from the crowd. I know this concept can be hard to digest (“you think about all those people who will think you don’t work with them”) but it’s a necessary distinction order to get known and get visible.
Here’s a quick exercise I did when starting my business that really helped me pass this hurdle
1) What do your current clients or referrals have in common? It could be their passion, their purpose, their hobbies, etc.
2) What is different about how you serve their needs? It could be a combination of your experience, your insight, the way that you communicate or even that you just have a magnetic personality 
3) How many people that fit the above criteria live in your region or country (and would be willing to pay what you need to be profitable). If there are more people than you could possibly handle, and you have a plan to reach them, you’ve got a niche worth testing!
When I started “making money on the side” I could never turn it into a business because I didn’t have two core things, a niche and a brand. Once I got that under wraps my business took off.
7 Responses to How to determine your brand’s niche market
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In bullet 3 you point out something very important that a lot of peole seem to forget. Are the y willing to pay or more bluntly: Do they have money? I can clearly see a tendency for women wanting to help out and therefore carve out a nisch without economical means to buy their service.
Good advice!
When I decided to focus strictly on anxiety, grief, and self-esteem issues, instead of trying to “do it all”, my business really picked up. Also, my vision for what I wanted to do with my life became more clear. It allowed me to concentrate my efforts and made me more efficient. Great advice to new business developers. Thanks.
spot on!
It makes marketing so much easier when you know your target audience.
Such solid information, Beatrice. I know a lot of women who do not want to disclude people out of fear. And, it never fails that once they niche down…Their business soars. I always say the difference is like shouting your message in a stadium full of people OR speaking to a group of attentive listeners who really want & need your information. Thanks for the post!
Jen, great observation you have here, about how your vision comes into play when you get really narrowly focused!
Thanks Denys (love the spelling of your name)
Kerry, true, women have this fear much more than men. We must pull each other forward!