What Niche Market Should You Target?

I recently posted a question on Facebook… It went like this: “It’s a lot easier to turn a ship that’s moving in the wrong direction than it is to turn a ship that’s not moving at all” What do you think, is that true or false?

Well, just as many commented and agreed with me – in niche market terms, it’s true!

If you’ve been getting “analysis paralysis”, scratching your head and trying to figure out what niche market you should focus on, do some research, select a niche market and start heading toward it. If you’re off course, I promise you, the market will correct you.

Consider this when Selecting your Niche Market

If you’re not heading in the right direction, the market will quickly give you the necessary feedback that will help you adjust your niche. Don’t get overly concerned that what you decide today is a fixed decision. Be prepared to change your niche as the market demands.

Be prepared, you may at first select the wrong area or niche market to focus on. Many successful small business marketing experts have made that same mistake.

It’s very interesting how areas of expertise can change. But you can only change your direction if you have already set out in one to begin with.

Learn from Marketing Experts – Bob Burg, Dan Kennedy

Bob Burg is the author of a book called “Endless Referrals.” He is now positioned as a referral expert and an expert on helping people to generate referrals for business.

When he first started out, his niche market was memory experts. He noticed that people who took his memory courses wanted to improve their memory to remember the names of people they’d met at networking meetings and events. They wanted to improve their memory to achieve better business results.

As he spotted that connection, he started to focus more on being the referral expert. No one accused him of being a fraud because he was now a referral expert instead of a memory expert. The market let him know in which direction to steer his business.

When you set course in your chosen direction, look for niches and markets where it’s going to be easier for you to establish personal relationships and position yourself as an expert.

If the niche market you do choose turns out to be an enormous amount of effort, you have to weigh whether or not it’s worth your while to continue down that road or take a different road to get business.

When Dan Kennedy, the marketing expert, was invited to submit a proposal to give a speech in Switzerland, he opted out. While plenty of other people would jump at the opportunity, and spend a day putting together a proposal to bid, that is not the way he wants to go after business. Perhaps it didn’t seem worthwhile to spend the time writing the proposal. The point is that you have to make the determination of how you want to do business.

Your niche market will evolve with your business. It’s an actual evolution that happens in most any business. In my own business I have seen this happen too. I started out as specializing, by trial and error, as an effective cold calling expert. But I didn’t stop at teaching cold calling techniques. Today, I’m teaching people how to find new business.

One niche market I specialize in is helping small businesses market to big business. I help small business owners land big contracts. When you’re marketing to corporate clients it’s very important to target a specific niche. That way your corporate client will see you as an expert!

My encouragement to you today (especially if your goal is to attract corporate clients) — is to select your niche market. Make a decision now and go for it. If you need to change down the track then let the market guide you.

When you let the market guide you, then you’re guaranteed success.