172: Riches in the Niches? Should You Narrow Your Niche Focus?

When I ask business leaders, owners and digital marketers who is their ideal client or target market I often get the response similar to "anyone between the ages of 35-65 who has problem A, B or C." What does this translate to in real business results? Nothing, nada, zip ROI.

Having a business that is focused on selling to everyone and their mother, grandmother, kids, dog and cat is a recipe for failure.

The world is filled with generalists who can sell you whatever you want if you simply pay the $99 and you too can become rich and super duper famous.

We all know the tricks, the lies, the spam that many marketers throw at us. The media is everywhere. Heck, as we have discussed in past blog posts and Social Zoom Factor podcasts, you and me are also the media.

We now live smack dab in the middle of the Inspiration Age where inspiring and connecting with your target audience and ideal customer in a human way is a requirement, not an option.

Tell me, how can you connect with your ideal customer at a human level if you don't know who they are? If you state they are somewhere between the age of 35 and 65 and live in Colorado, Florida, Australia or Timbuktu? How you market, speak to, inspire, connect with, engage and build relationships with each individual persona is going to be different.

This is why if you are wanting to build a successful business you need to consider narrowing your business niche. Maybe you are focusing too broad and it's time to get laser focused not only on who you are serving but also on what you have to offer them.

Take a listen to the 172nd episode of the Social Zoom Factor podcast to learn the benefits of narrowing your niche as well as 7 strategies and tips to help you build a niche strategy and plan. Be sure to subscribe to this entire brand new series, "Welcome to The Inspiration Age" on iTunes, Stitcher or SoundCloud!

In this 30 minute podcast you will learn:

Benefits of narrowing your nicheAnswer to the question of "are the riches really in the niches?"How to find the right fit for your niche Why you must be careful of being "too unique" when choosing a niche Importance of researching your niche, what you must know How to research the larger ecosystem of your target market niche Determining how to position yourself Telling your brand story so people will understand your brand promise and value proposition Importance of planning your go to market strategy versus "winging it" Determining the actions you want your audience to take to engage with you Why focusing on a niche strategy will help you prioritize investment, time and resources for better success How to embrace the inspiration age with a solid niche strategy and plan Importance of humanizing your brand and leveraging niche marketing to do such