Niche marketing is scary because it means turning away business, and that is something most small business owners just don’t have the stomach for. It’s unfortunate, but it’s WAY scarier to operate on the premise that your target market is “everyone”.
Why is that scarier? Because it’s literally impossible to sell to “everyone”. Talk about setting yourself up for failure. There is simply no chance that you’re going to sell to everyone. Not even Coca-Cola sells to everyone. Importantly…nor do they try. Coca-Cola markets to a niche. Compare their marketing to Pepsi, and you will see distinct differences. As reader of this post, there’s a good chance you’re either a Coke or Pepsi person. You’re probably not both. You like one or the other, and the same is true in every business. Some customers will really connect with you, others will not. You need to get in touch with the true value you can offer your customers and market yourself accordingly.
Your goal needs to be to connect with the people who really “get” you…who really see value in what you offer.
Attempting to sell to everyone is a losing proposition, because you’re trying to be everything to everyone, and you can’t be. With most people, you’re going to fall short, and when you work in that type of situation you’re forcing yourself to offer a low amount of value. Conversely, there IS a niche where you can really connect. You absolutely CAN connect with a small niche in a big way, and in doing so you will be offering them a very high amount of value.
Niche marketing enables you to offer significantly higher value while earning significantly more from a SMALLER base of people. When you really nail your niche, you become indispensable. Lack of niche marketing is why most small businesses struggle with competitors, and it’s why everyone seems to compete on price. Everyone wants to be the cheapest. We know in our gut this is not the way business is supposed to be. We’re supposed to offer our customers high value, not just sell them a bunch of junk at the lowest possible price.
When you find your niche, you not only become indispensable to your customers, you also become a strong supporter of the people you used to consider your competition. When a customer offers something you don’t do, you send them down the street to your “competition”. It builds good will, it’s great for the economy, and it connects customers with what they really need. Niche marketing is really not nearly as scary as you think. Avoiding it is what’s scary 🙂