A niche, when used in business, is defined as “products, services or interests that appeal to a small, specialized section of the population.” So how do you identify your niche? And once you do, how do you dominate it?
On a recent episode of Should I Start a Podcast, we got to hear the incomparable Clint Salter enlighten us on the importance of finding your niche when it comes to hosting a podcast. Niche markets can be goldmines if you can figure out how to tap into them.
Money isn’t everything, of course, and it’s not just about monetary success when dealing with niche markets. It’s about filling a void; giving people something they need that isn’t already available.
So, how do you identify your niche and more importantly, how do you, as Clint says, dominate it?
You Can’t Be All Things to All People
One of the biggest mistakes new businesses make, according to Clint, is trying to be all things to all people. Not only is it impossible, but it’s counterproductive.
If you’re constantly trying to please everyone on every angle, you’re going to be missing out on key details you could be honing in on to appeal to a niche market.
So instead of being all things to all people, focus on being some things to some people. Do what Clint suggests and “narrow your audience and narrow your offering”.
Clint’s niche was easy to identify, he had been owning and selling dance studios from the age of 16, so catering to other dance studio owners was a given. Yours may need a little more digging, but there are certain clues to follow to make the process easier.
Follow Your Passion
What gets you up in the morning? What is that one thing about your business that you just absolutely love doing?
If communicating is your jam, if you’re just super awesome at keeping in touch with your customers and clients and have all sorts of cool methods and tricks that you use to keep track of your communications, that maybe your niche.
Your niche doesn’t necessarily have to be a specialty market, like gluten-free baking for example, it could be a specialty business skillset as well.
Figure out Your Message
As Clint says “You’ve got to have passion, but it’s not the only thing.” Once you’ve followed your passion to identify your niche, now it’s time to dominate it. To do that, you have to figure out what your message is.
Whether it’s through your podcast or your business, what’s your message? What do you want people to walk away knowing about what you have to offer?
Clint’s niche market is dance studio owners, and his message is that he can help every dance studio owner be more profitable and make a bigger impact on the lives of their staff and their dance families. What can you do for the people in your niche? That’s your message.
Once you’ve identified your niche and formed your message, you have to be consistent with it. If you need to pivot a bit and reestablish your niche after time, you can definitely do that. But once you’re there, stick with it. Don’t leave your audience behind.
Keep sharing knowledge that’s specific to them and their needs. Other tidbits can be thrown in from time to time, but the meat and potatoes of your podcast and your business should cater to your niche.
Consistency is critical in everything you do. From releasing your podcast on the same day every week, or sending follow up emails to guests at the same time, consistency is so important. Consistency equals reliability in the business world, and it’s how you build trust with your audience.
Identifying and dominating your niche isn’t just about finding success for yourself and your business. The beautiful thing about catering to a niche is that you’re providing a much-needed service for people that they can’t find anywhere else.
At the end of the day, you’re helping people. In the words of Clint, “Don’t forget how much you’re impacting the lives of people.” That’s what it’s all about after all.
For more of Clint’s great tips on identifying your niche, check out episode #181 of Should I Start a Podcast hosted by Ronsley Vaz.
Author: Ronsley Vaz
Ronsley is the founder & chief day dreamer at AMPLIFY. He is an author, speaker & serial entrepreneur.
He has a Masters’ degree in Software Engineering and an MBA in Psychology and Leadership. He is known as the creator of We Are Podcast – the first Podcasting Conference in the Southern Hemisphere, and the host of The Bond Appetit Podcast and Should I Start a Podcast. He has an audience of over 3 million in 133 countries.