Niche marketing is identifying and targeting a market (group of people) with needs that your services or products can deeply satisfy.  You identify a segment of the market with particular needs, and focus your efforts on satisfying those needs.

Many of you have heard about Niche Marketing, especially on the Internet.  Niche marketing is the most effective way to market your services and products.  Also, it is the best way to expand your market.

The key to attracting clients is by providing services and products that would help your clients deal with their most urgent needs.  Most coaches and service providers are already serving clients with services and products, and may be looking to expand their market.  Here is how niche marketing can help to expand your market:

1.    Identify other urgent needs that your existing market wants to fulfill, and discover how you can fulfill those needs.

2.    Identify new market segments with needs that your existing services and products can fulfill

Let’s look at a niche-marketing scenario for a coaching business. For example, imagine you are a business coach, working with executives, who discovers that executives with newborns are having a difficult time balancing life, between their child and career.  You have discovered a new market segment – Executives with newborns.  Also, you have identified their pain, which is balancing their life between their work and their newborn child.  Now, assuming you are an expert in life balance coaching, you can start marketing your services to this segment.  If not, you can either learn about life balance coaching, or hire another coach to teach you what you need to learn, or else to team up with you to provide the services.

By taking the time to gain clarity on your target market and niche market, you can gain the focus to take your coaching business to the next level. How could your business expand if you defined your niche?

That is an example of niche marketing.  You have identified a new niche that would serve your existing market.   How can you use niche marketing in your business?