Why finding your niche is important | Part 1
This blog is going to be in two parts: one generic and one more specific, tailored for musicians.
To find your niche: this is the first thing that everybody say you have to do and it's not that easy as everybody tell!
At the same time others tell you that first you have to find your audience....
I'm confused.... it looks like wondering what was created first, the egg or the chicken... maybe when you find your audience you define your niche? Maybe they go side by side and once you find your niche you find your audience?
In this post I'm trying to give some overall guidelines to follow, dictated by common sense.
Of course, for full disclosure, nothing is guaranteed because there are so many elements that contribute to the research of your unique space.
It looks like a never ending process because of the constant change of the markets with a perpetual need to update every now and then.
What is niche?
A niche is a specific segment of a market that a business or individual targets with a particular product or service.
It is usually smaller than the overall market, because it is focused and specific.
Before you start your search for your niche, it's very important to take some time to reflect on your skills and strengths and honestly consider what makes you unique and what sets you apart from others in your industry.
Take in consideration your past experiences, your education, and your training.
Ask yourself questions such as: What do I enjoy doing the most? What am I naturally good at? What have I been praised for in the past?
The answers to these questions can provide valuable insights into what your niche could be.
Even if you ask yourself these questions some might object that the choice of the product that you'd like to produce has nothing to do with what you like but with what people might like and you have to accommodate your thinking to your potential customers.
Well, agree to disagree.
What is the point to create something that maybe you don't love only because people might like? In my opinion this is not a granted formula for success because competition is high in every discipline and plus you are at the mercy of people you don't know, that could, and have all the rights, leave you for the next shinier object they see somewhere else. We all know how important mental health is nowadays and this approach doesn't seem very healthy if you are not happy doing what you do.
To be clear, I can understand for example trying to drive customers to your shop offering something out of your spectrum to allure them but the real goal is to expose them to what you love and believe in.
So now on when I talk about meeting your customers desires I"ll consider that those desires are yours as well.
Finding a niche allows a business to focus its resources and efforts on a specific area, leading to more efficient marketing, better customer relationships, and ultimately, increased profits.
The goal of finding a niche is to identify an area where you can specialize and offer unique value to customers.
By understanding the specific needs and wants of your target audience, you can create a product or service that truly meets their needs, setting you apart from the competition.
It can come more natural in some fields than other because of the nature of one market.
For example in the writing world you might find easier to find your niche because of the topic you write about and maybe that world is more structured than other.
Check for example this writer, Daniel Vollaro: in his bio he's already telling you his expertise starting from the generic " I"m a writer " to the specific " I write about...."
Your personal interest can be right away a super specific niche like for example antiques in the art category. And even here I'm pretty sure you can niche down being focus on a particular object or era or author and the list goes on and on.
Let's see now what you need to do before looking for your particular niche.
Once you have a clear understanding of your skills and strengths, it's time to conduct market research. Start by looking at what's already available in the market.
What products or services are being offered?
Who are the competitors?
What gaps in the market exist?
Consider what you could bring to the table that is unique and different from what's already available.
After all these considerations, understanding your target audience is critical to finding your niche.
Who are they?
What are their needs?
What motivates them to make a purchase?
Once you have a clear understanding of your target audience, you can tailor your product or service to meet their specific needs.
This will help you differentiate yourself from your competitors and attract the right customers to your business.
An important aspect of finding your niche is networking.
Building relationships can lead to new opportunities and introductions to your ideal customer. Don't be afraid to reach out to others and ask for help, there's no shame on that just don't be annoying!
You never know: who you talk, also a random stranger, could have valuable insights that can help you find your niche.
Finally, be open to experimenting and trying new things.
This is crucial not only to find your niche but also, once you find it, to keep up with it because a niche may evolve over time, and it's important to be flexible and adapt to changing market conditions.
Don't be afraid to try new ideas and approach your business in a new way.
By staying open to new opportunities and being flexible, you'll be able to find the niche that's right for you and your business.
See you next week for part two!