Podcast: Do you really need to Niche?
The benefits of niching or picking a more focussed segment of a market to target certainly has its benefits from a marketing and lead generation perspective, but the benefits really go a lot deeper than this alone.
In this short video we go through the benefits of niching outside of marketing and lead generation.
What is a niche? And do you need to niche in your business or in your offering in order to get more results? So niching essentially is being a bit more specific on your target market or the services that you provide. So you’re not trying to do everything for everyone.
A lot of small businesses get really worried about niching because they can say, “Oh, I can do everything “or I can help anyone in any industry.” And whilst that may be true, the benefits to niching far outweigh just the client acquisition and the marketing side of things that really go deep into the roots of your business and how you can actually generate results.
So the main reason that you wanna niche or pick a specific target market or audience or industry that you focus your business on, is, first of all, it really helps resonate your messaging. Build a stronger message for your target market. In essence, it makes you come across as an expert, rather than a jack of all trades, you’ve probably heard the saying, jack of all trades, master of none. People wanna work especially now more than ever, with masters and experts in their specific niche field.
So specifically to LinkedIn and generating B2B leads on the platform. If you are on your profile, talking about, 100 different things to 100 different industries. The message is just not going to resonate strongly cause it’s not specific to anyone. And people take action based on specifics, they don’t take action based on passive things, you need a message that resonates strong enough even if it appeals to less people, it’ll appeal stronger to these people it does appeal to, and give you a better chance of people actually wanting to talk to you on LinkedIn. And also means that when you reach out to people, there’s a higher chance that they’re gonna respond and engage with you on LinkedIn.
But that’s just for lead generation and your marketing. But the benefits far outweigh just you lead generating marketing cause when you start dealing with a specific segment or specific problem, or just a small offering, you’re now faced with the same issues, the same problems, the same kinds of things every day. And rather than trying to solve a new problem every single day, you’re starting to get a more refined with problems and as you deal with the same problems over and over you can start to solve them more efficiently, build really clean processes that will help you scale up. And this is really important because when you’re trying to do, you know, offer same thing to 10 different people or 10 different services. No let’s just say five services, five different potential markets. You’ve got five by five, 25 different things that you now need to be able to do.
But if you have one market, and one service that you know generates great results, you just keep optimizing this one thing, you’re putting your energy into one thing, and so 25 times faster, you gonna become an expert at this specific thing. And when you’re an expert, you can charge more, you can solve the problems quicker, faster, get better results for your clients and build a business and processes and systems that you can scale really quickly. Super important and so, a lot of businesses, and a lot of small businesses look up to the big businesses and they say, “Oh, well, they haven’t niched.” But most big businesses do actually start quite niche. I mean, you look at Amazon, biggest company in the world, probably, they started out with books, they focused on selling books online in the beginning, and when they were big enough, they had their processes, they scaled up, then they moved into other areas.
So in the beginning, I highly recommend trying to be a little bit more specific with your offering, with your services and try and tailor that down a bit. It’s going to help you resonate stronger and your marketing lead gen is going to be more effective, and also means your business is just gonna be a lot simpler, you’re gonna be able to do less and provide more for your clients and build a system that’s scalable, growable and people are gonna talk about and wanna work with you.
So that’s it, that’s my thoughts on niching and why it’s important, especially for lead gen on LinkedIn, but more so than just your lead gen and your marketing, it really moves into your mechanics on business as a whole.
I hope you’ve got some value from that and have a great day, cheers.