We’ve all heard the saying, “the riches are in the niches”.
Which is all well and good, but what if you ALREADY have a product, offer or business that is currently a bit “broad” and while you’d love to have more cut-through, more leads, more engagement and more sales.
You REALLY don’t want to have to start from scratch.
So what if I told you you can actually (easily) add a niche to something you already have.
It’s not that hard at all, and it can make a huge difference.
Today I’m answering a question that I know you’ve all been asking, and that is, “How the hell do I niche down my products?”
So, you’ve all heard that you need to niche and you’re resisting it.
You’re worried it’s going to make a whole lot more work for you.
You’re worried it’s going to break what you’ve already got, it’s going to make it too hard to sell, you’re going to pick the wrong thing, you’re going to screw it all up.
Well, if that is the case, then today’s post is just for you.
We’ve all heard the saying, “The riches are in the niches”.
And it is true.
I hate to be the bearer of bad news but generally, the way people go about niching down their business or their offers is the wrong way of doing it, and it doesn’t necessarily get you any better a result than what you’re already doing.
I’m going to share four different ways that you can niche down an offer you already have, to make it more appealing, more “I need it now,” and get you selling more of it without really changing all that much.For those of you who are still a bit undecided on the 'to niche or not to niche' topic, you don't have to go start from scratch, you don't have to reinvent the wheel; you can just use it to make something you already have sell better.Click To Tweet
Why would you niche down?
Well, to be honest, it’s really the only way to get good traction and good cut-through, and to really be seen as any kind of expert in a really crowded market.
So, by “really crowded market,” I mean the Internet.
The Internet is bloody crowded.
There’s people everywhere, and there’s hundreds of them who are doing exactly what you do.
Now, I’m not saying you need to niche down to something so specific there is absolutely no one doing what you do, but you want to get down so that it’s a smaller pool.
So you’ve got 20 decent competitors rather than thousands.
And then, for customers and people looking around, it’s really going to come down to who they find first and who they relate with on a personal level.'It's better to be someone's shot of vodka than everyone's cup of tea' because if you're out there trying to impress everyone, you end up just un-impressing everybody.Click To Tweet
If there’s not someone going, “Yes, that person is for me, hell yes, take my credit card,” then they’re probably going to move on and forget about you.
So you need to make an impact.
Not just so that you impress people when they find you, but also so that people know what it is that you do, so that you can get yourself out there, go on podcasts and be seen as an expert.
But it’s really hard to be an expert when you’re doing a little bit of everything, and for everybody.
So, we want you to find a niche, we want you to find a slightly smaller, more targeted market so that you can really amaze those people.
Make it really, really easy for those people to know that you are for them, easy to convert them, make it easy for you to promote yourself, easy for you to get out there & get more traffic, get more traction, all those good things.
But to do that, you do need to niche down.
You can’t be super vague.
There’s only one way to be successful and be super vague, and I’ll tell you what that is.
It’s actually number four, and it’s not the one that I recommend.
So, what are the four ways that you can kind of just bring it in a little bit, so that your marketing is more effective, so that it’s easier to convert, so that it’s easier to grow?
4 Ways to Niche Down: Target Market
First of all is, if you do have an offering that you’re teaching, and it is broad, for example, you might teach people how to be healthier, right?
That’s pretty broad.
There’s lots of different things you can do to be healthier.
But you take that existing offer, literally change nothing, but start targeting a specific person.
So it could be, all of a sudden, “How can teachers be healthier?”
Can you see how all of a sudden, it goes from being like, “Eh,” to, if someone was a teacher, which is still a bloody big market, by the way, they will go, “Yeah, I’m a teacher, I want to be healthier, that’s for me.”
Now, if that same person was looking at your current “How to be a bit healthier” offer, they’ll be like, “Oh, well, I don’t really know.”
But if your offer was, “How to be healthier for teachers”, then all of a sudden, boom, they know that you are for them.
And then, of course, you can probably go in and tweak a little bit of your content, but really, at the end of the day, the thing that’s changing is your messaging, and probably maybe the name of your offer, and that’s pretty much it.
4 Ways to Niche Down #1 – Solve 1 Problem
If you want to have a broad target market, like women, then you need to teach a specific thing to that broad target market.
For example, sticking with the healthy theme, you can talk about how to detox your liver.
Make your offer more specific.
Another example is when people teach online marketing like I do, (and it’s a super broad topic), if you come in and teach Pinterest marketing, that is way more specific.
Your marketing and your messaging is all around you being the best and the number one place to get that specific piece of info.
You’re not trying to solve all their problems, you’re just going to solve one really, really well.
4 Ways to Niche Down #2 – Get Specific
The third one is actually my favorite!
This is where people stop resisting and allow themselves to make two solid choices and go all in on them, that is when people tend to get the most momentum.
So, what is it?
Basically, this is where you go, “Okay, I’m going to do the scary thing. I’m going to commit to teaching a specific thing to a specific person.”
Seriously, it’s the niching motherland.
A super effective way to do this is to take your existing product or course or offering, and you go, “Okay, what is the key outcome here?”What is the one thing, when people look at your course, that's really got them sold?Click To Tweet
Take that thing, focus on it and you could probably turn what you’ve got left in your courses into bonuses.
So you’re not getting rid of anything, you know that they still need some of this stuff, but you’re just going to focus your messaging.
You can simplify your curriculum, what’s inside your course, which actually makes it more likely they’re going to finish it, more likely that they’re going to get the result that they wanted in the first place, which was that one result.
They want to be much better at one thing, rather than a little bit better at a lot of things as well, so it’s a win-win for everybody.
And, you don’t have to recreate anything.
You just rejig a little bit and maybe do a tiny bit of tweaking.
You can take your existing product and, by rejigging slightly what’s inside it, and rejigging slightly how you message it on the outside, go from having a product which is a bit broad, a bit vague, is targeted a bit haphazardly at everyone, and turn it into a product that is laser targeted to get to one specific person.
So that person’s going to see that, they’re going to love it.
They’re going to know it’s for them, they’re going to want to buy it, and then when they get inside it, they’re going to get that one result really well, and then that is going to make them even happier.
Then they’re going to go and tell all their friends, and it’s absolute win-win for everybody.
So that’s your third option; that’s the one I would encourage you to be brave and give a try.
I know that it seems a little bit scary, but considering as you don’t have to actually go out there and delete anything or redo anything, it’s actually a lot less risky than you would think.
And you can even experiment, if you’re not sure.
If you’re like, “Oh, maybe I want this market, maybe I want that one,” you can go and do some Facebook Lives on a couple of different topics, see which ones get the best results.
We go through a bunch of different ways that you can kind of pre-test this stuff, if you do need to niche down a bit more, inside the 5K Funnel Formula.
But it doesn’t have to be scary, it doesn’t have to be time-consuming.You can make really simple, strategic, but powerful tweaks, which can get you such a better result.Click To Tweet
So, what is the fourth way to niche down?
4 Ways to Niche Down: Be a Unicorn
The fourth way is to be a unicorn, so it’s not really an option if you’re not one already.
Unicorns are out there on the Internet, they exist, we all know them, we all follow them on Instagram.
They’re people who have really vague topic courses and talk about a really broad topic.
They might do Pinterest and Instagram and email and everything else on top of that. They aren’t specifically direceting their offering to anyone.
And it makes most people go, “But they didn’t have to niche down. Why the hell should I?”
But the thing is, they’re a unicorn.Unicorns are born, not made.Click To Tweet
They’re out there for us to distract us all.
Like, unicorns are usually amazing, talented, awesome humans.
I’m not taking anything away from unicorns.
But if you’re not a unicorn, if you’re not the person who within the first six months of your business, all of a sudden everything took off, people just buy whatever you sell, you get thousands of comments on everything on social, every email you send gets people writing back and sending you love letters.
You can obviously do things to improve all of that stuff a bit, but if all of that stuff didn’t just come instantly easily to you, in which case you probably wouldn’t be reading this post, because hell, you’ve got a multimillion-dollar business, and you don’t care about niching down, you know you’re good.
But the problem with unicorns is that unicorns are distracting to everyone else, because people look at those people who are crazy successful, and they go, “Well, why can’t I do that by just doing what they did?”
But the thing is, they are the Beyoncés and the Madonnas.
I’m not saying that you can’t go and be one of the other thousands of successful people on the charts, but you generally know if you are or aren’t a Beyoncé.
And there’s nothing wrong with not being Beyoncé, there’s nothing wrong with being inspired by Beyoncé;
I’m just saying, don’t try and make the decision, these critical decisions for your business, based on the fact that you’re hoping you can get away with something that only 1% of people can get away with.
Instead, save yourself the stress, come back to the first three ways of niching, pick one, go all in, and reap the rewards.
And who knows, maybe in a few years, your Beyoncé-ness will come on through.
If you need any help at all with trying to figure out exactly what your niche is, or how to turn that niched-down product into a super-powerful, super-profitable online funnel, come and check out my free workshop, How to Build Your First Funnel.