Why a Niche Market is Important (and How to Find Your Own!)

First of all, the pronunciation is NEESH (it’s French, people). In this episode, you’ll learn the definition of a niche, why it’s important (especially in marketing), how niche is too niche, and two powerful strategies to start finding one of your own.

>> Listen to this blog post as a podcast episode!

Tom Schimmer and Natalie Vardabasso specialize in helping educators to launch and grow their learning-based business.

Connect with Tom & Nat:

>> Book a call.

>> Send an email to [email protected]

 

What is the definition of a niche market?

A niche is a specific segment of a market that your business focuses on, distinguished by particular needs, interests, or characteristics. It's a specialized area where you can target a distinct group of customers and offer tailored solutions or products that meet their unique needs.

For instance, rather than saying, “I’m a change catalyst who is transforming K-12 education,” someone who has “niched down” would say, “I help high school Math teachers implement engaging coding programs.”

 

Why is a niche important?

In today's world, having a clear niche is even more important as we are constantly bombarded with information. Many marketing experts are adamant that a niche helps to cut through the noise online because it increases clarity and consistency. Donald Miller, the founder of a company called Story Brand, has created the company mantra, “if you confuse, you'll lose,” to help his employees remember the power of a clear niche. 

 

 

How niche is too niche?

If trying to find your niche is causing you to feel analysis paralysis, stop. There is value in starting broad and narrowing down your niche once you start working with your first clients. However, there is also value in starting with a narrow niche and expanding out from there. For instance, someone who wants to transform literacy education in America might start with their local schools before expanding to their state and then the country.

The key either way is to start working with real human beings as quickly as possible. That is the fastest way to find a niche you’re both passionate about and able to get results in.

 

How do I find my niche?

 Here are two strategies to find your unique niche market for a learning-based business. 

>> Reflect on the following questions and look for a theme amongst your answers:

1.     What is the hardest thing I ever overcame? What did it teach me?

2.     What am I passionate about?

3.     What am I really good at?

 

>> Ask five people who know you well, either personally or professionally, to answer the following questions. Again, look for themes and cross-reference with your answers.

1.     What is something I’ve done that inspires you?

2.     What would you come to me for advice about?

3.     What do you see as my unique genius?

 

Do you want some help finding your niche market? Then book a call with Tom & Nat today.