Archive for December, 2017

The Problem with Niches

Posted by

finding your nicheMy client Mary called me and cried, “I need to find my niche!”

She had been told over and over again that she needed to find a narrow niche for her Life Coaching business so that she could be more noticeable among the pack of Life Coaches who market themselves to business professionals and managers.

But she had also been told that using words like “meaning” and “purpose” to describe what clients were looking for was over-used; all life coaches were using those terms and they had lost their power when it came to writing marketing text.

To find your niche, you need a tailor-made approach.

Here is my reply to Mary in regards to identifying her niche and writing her marketing text towards that niche:

Finding The Right Words

Remember, WITHIN the coaching industry, words like “soul,” “meaning,” and “fulfillment” are used constantly and we’re used to them and don’t think they’re special.

But, OUTSIDE the coaching industry, people are just awakening to these words. They love these words. And people ARE looking for meaning and fulfillment in their lives. (Just because you are used to seeing those words everyday doesn’t automatically make them powerless or boring.)

So you may be tired of hearing catch-words in YOUR industry, but that doesn’t mean that customers aren’t still searching for those very same ideas.

If you want to know if people are interested in these words, go to the Google Keyword Tool  and type them in. You’ll see for yourself how popular they really are.

As a life coach, saying you don’t want to market yourself using the words “fulfillment” and “meaning,” is like saying you’re a dentist, but you don’t want to have the niche of “filling cavities” because every dentist does that.

Sometimes your niche isn’t just what topics you talk about with clients; sometimes your niche is the combination of what topics you talk about AND the people/groups you talk to.

Finding The Right Niche

The whole purpose of choosing a niche is so you can find a central place that potential clients congregate — so that you can get in front of them to introduce your business via your marketing techniques. You can find “professionals” or “mid-level managers” or “upper level executives” in specific industry associations, magazines, websites, newspapers, peer groups, etc.

But say you want your niche to be “Hyper Ambitious Stress Coaching.” There is no industry association for Hyper Ambitious people…how will you locate them?

Do you really want to be known as the “Hyper Ambitious Stress Coach?” (Do people really type in “hyper ambitious stress coach” into Google when they’re looking for help?) It implies that you work with only people who are hyper-ambitious, and only stressed ones at that. There are plenty of “non-hyper-ambitious” professionals who are want to achieve great things and be successful (and are stressed), they just don’t go overboard into “hyper” behaviors that create unbalance.

One caveat: labeling yourself the “Hyper Ambitious Stress Coach” is great for PR. The news media loves a specialist. But clients may not be looking for a Hyper Ambitious Stress Coach; they’re just looking for help with stress, over-scheduling, high demands, etc. So unless you’re going to get all your prospective clients via news media interviews, you might want to re-think that narrow niche.

Choosing a niche is not an exercise in finding a place where you have no competition. It’s okay if you have competition in your niche: it shows there’s a thriving market there.

Differentiation vs. Niche

If you’re simply looking to differentiate yourself from your competition, then that’s not done by choosing a niche market. Differentiation and Niche are two separate marketing steps. You can differentiate (brand) yourself based on:

  • your personality
  • your processes
  • your techniques
  • your classes and products
  • your background
  • your experience
  • your skill set & knowledge
  • your availability
  • your fees
  • your style

Differentiation asks, “Why would they buy from ME versus my competition?”

Niche asks, “Where will I find THEM so I can introduce myself?”

This entry in Wikipedia may help:

http://en.wikipedia.org/wiki/Niche_market

I’m not saying, “Don’t go in that niche direction.” What I am saying is this: if you define your niche too narrowly, you’ll have a hard time getting in front of them with your marketing techniques. And along the way, you might not be following your own purpose or meeting your goals.

So, how do you define your own niche? I’d love to hear about your target audience and how you help them!

11 comments for now



Category: Internet & Social Media Marketing, Marketing
Tags: , ,

Redesign Your Marketing Model

Posted by

If you’ve been in business for a while, you probably already have a marketing model that is working for you. Or, at least it used to work for you

There are seven different areas in your business where rethinking and reinvention are possible: Marketing is a great area for innovation and change!

Have things changed in your business and marketing?

  1. Your audience isn’t reacting to your marketing techniques the way they used to.
  2. You are bored with your marketing techniques, so you’re not doing them as consistently as you once did, and the quality of your marketing is suffering.
  3. You’ve become complacent because business is going great, and stopped paying attention to “big picture” strategic marketing planning.
  4. Your marketing techniques are stale, outdated.
  5. You’re totally freaked out by the amount of work you have to do, so some things just get put on the back burner, like marketing (and remembering to eat).

Time to shake things up!

Last time I counted, there are over 100 offline and online marketing techniques you can use. There’s one for everyone. Why not try a new marketing technique you haven’t tried yet but have always been curious about?

If you’re feeling the innovation itch, why not combine two techniques into something original and noteworthy?

For instance, could you combine a free, funny bumper sticker giveaway with a contest?

What about combining a free webinar with a SEO using a strong article or blog post, to increase sign-ups and boost your mailing list?

Pick a new technique or combine two! Jazz it up!

Here’s the trick.

Don’t overwhelm yourself with trying to do 20 new marketing techniques at once. Choose one, learn all about it, try it out, track your results, and master that technique. Then do it again with the next new one.

Having an annual marketing plan will help. You could schedule a new marketing technique each quarter, based on your goals and what you’re promoting that quarter.

Maybe it’s time to delegate?

One big reason why seasoned business owners don’t do the level of marketing that they should do is that they simply run out of time and energy. Just because you’re the business owner doesn’t mean you have to be the head of each department.

I know, I know: you’ve heard that you should delegate a million times. Hey, just do it! (Do I have to pester you?) Consider finding someone who can implement some (or all) of your marketing techniques for you, so you can focus on your core competencies, the unique gifts you bring to the world.

I’d love to hear your thoughts. Where do you feel you need to shake up your marketing model?

8 comments for now



Category: Internet & Social Media Marketing, Marketing, Rethinking Your Business
Tags:

If You’re Feeling Like Your Business Needs Redesigning, You’ve Come to the Right Place

Posted by

Does this sound familiar?

  • You’re feeling restless. You yearn for “something new” for your business, but you’re not sure what that something is yet.
  • You know you have untapped potential in your, and you’re ready to tap it — big time.
  • You’re thinking, “My business model isn’t working for me anymore. What’s next for me and my business?”
  • You’re frustrated, because you’re ready to take action, if only you knew what the right action was to take.
  • You can feel change is coming — you just know it — and you’re excited about it. And maybe just a little scared.
  • You need a crystal clear vision for the future of your business. (Oh, and an action plan for implementing it would be nice, too.)
  • You’ve run a successful business before, but your goals and values have changed, and you need a business model that mirrors those changes.
  • You have bits & pieces of the picture for your new business model, but not a complete picture. You need to put the pieces together, but in an entirely different way than your current business model.
  • You want to grow personally and professionally and you want to design a business that will challenge you and help you grow.

Business redesign is a journey of discovery.

Business redesign isn’t about tweaking one marketing technique or hiring one employee. It’s about rethinking your whole business model.

  • Maybe you’ll serve a whole new audience with your existing products and services.
  • Maybe you’ll stop offering a specific services and begin offering a new, better one.
  • Maybe you’ll bring on more staff, or outsource more, or reduce staffing.
  • Maybe you’ll change your pricing, revenue and expense models.
  • Maybe you’ll take advantage of new technology to make big shifts.

This is not just about a minor face lift – it’s about rethinking your business model and strategically choosing the future direction of your business with complete clarity of purpose and a strong action plan.

When you redesign and transform your business model, you are an explorer in a new territory. In this series of Business Redesign blog posts, I talk about the different phases of this business reinvention journey, but in essence the journey begins with exploring two important pieces: You, and Your Business Goals.

Transform your business with a step-by-step process.

Business redesign isn’t about throwing the whole thing away and starting from scratch (though you can, if you really want to). You take all your knowledge and experience and assets with you on this journey. Read What Does Business Redesign Really Mean? to get a better idea of my definition — it may help some of the pieces fall in place for you.

Many people have been on the reinvention journey before you and there’s a process to transforming your business. In the blog series, I’ll share the milestones and roadblocks I’ve discovered on my own journey, as well as Redesign Stories from others, so that you can learn from my experience and the experiences of other small biz owners just like you.

In the final analysis, it’s about having a roadmap and a compass to help you on your journey to business reinvention.

Start your business redesign journey here>>>

no comments for now



Category: Running a Strong & Efficient Business
Tags: ,