If your marketing efforts have seemed to lost some of their effectiveness, it might be because your niche needs refurbishing. As the economy in the Valley changes, your customers and clients might be changing, too.
As you plan out your business for the New Year, you might want to take a good look at how you are defining your niche. Here are some things you can do make spruce up your local niche.
1. Have you defined your niche?
If you try to market to everyone, you’re gonna end up marketing to no one. And in a tough economy, this becomes especially important. Choose a target market. You might even consider defining your market by neighborhood or zip code, rather than city or county. For example, Paradise Valley rather than North Phoenix. Focus in on your target market and you’ll see your business grow. I know it sounds counter intuitive, but it does work.
2. Have you defined your niche specifically enough?
You don’t want your niche to be too broad or too narrow. You want it to be narrow enough that you can communicate your message effectively to your chosen market, but not so narrow that there aren’t enough members of the group to be profitable.
Also, if your business is geographically tied. Take a look at those who live an work in your target area. Have they changed as the economy has changed? Do you need to redefine who it is that you serve?
3. Are you passionate about your niche?
If you are marketing dog-related products and you’re really a cat person, your message will always be a bit off. You need to love what you do so you can devote the kind of time and effort needed to create a meaningful, fulfilling business.
If you find that you aren’t passionate about your niche, there are a couple things you can do. Create a new business that targets a niche you are passionate about or re-fine the business that you already have so that it is in more alignment with your interests.
4. Are you knowledgeable in your niche?
Again, if you know more about cats than dogs, why would you market to the dog lovers? They’ll see right through you!
5. Have you made doubly sure that you’ve addressed the first four questions?
Be honest now. If you skip these steps or do them in a half-assed manner, you’re just hurting yourself and your business.
Would you like some help creating a simple, flexible business plan that keeps you organized and on target toward your goals? Check out Plan Your Business Vision, a self-study workbook and audio program with creative professionals in mind. A group class based on the self-study program is forming next month, as well.