How to Pick a Niche for Your Digital Marketing Business

How to Pick a Niche for Your Digital Marketing Business

Stuart Trier Pick a niche, Prospecting Leave a Comment

Digital Marketing Niches – How And Why To Select One

In the text that follows I am going to show you why picking digital marketing niches to focus on is so important for your business and how to ensure you pick the right one for you.

This is one of the easiest and fastest ways to build your six (plus) figure digital marketing business and while you might be resistant when you hear the words ‘niching down’ you need rethink your position because the benefits are massive.

I’ve been there before and I know that you may be thinking things like you’re too small to turn down the work of other businesses, you’re not really an expert at any niche or you’re not sure how to pick a niche.  I get it, and I am here to help.

Okay, so one of the first steps to building a successful internet or digital  marketing business is to attract your ideal buyers and niching down is the quickest way to do it. As Russell Brunson, one of the world’s top marketers, likes to say, “The riches are in the niches.”

Thankfully for you, I’m going to explain why you should niche down and I’m going to give you a framework on how to pick a niche.

So let’s start with learning why anyone would do this instead of servicing anyone they can land.

Firstly (and most importantly), you should niche down because ALL ideal buyers prefer to deal with a specialist over a generalist. PERIOD!

If your roof needed repair would you look for a jack of all trades or for a local roofer to fix your leak?

We all feel the same and whether we admit it or not we all want an expert to solve our problems.

We don’t look for generalists and we certainly don’t value them at the same level but for some reason when we start our digital marketing business we don’t think about what people prefer and we convince ourselves that being a generalist is a good strategy.

Niching down allows you to attract those ideal buyers and it allows you to establish yourself as an expert quickly (whether you believe you are or not).

So how should you start?

I suggest you set up a niche-focused marketing site. This set-up signals to prospects your serve their unique business alone. It allows you to demonstrate that you understand their business model, their business challenges, and their industry terminology as well as their client’s needs and desires.

By leveraging what you already know about digital marketing and applying it to a single niche you can easily become a trusted advisor and you can easily create content related to any digital marketing and focus it on how it applies to your niche.

For example, in the basement renovation business, which headline do you think  would appeal to the owner of a renovation business?

  1. Seven marketing tactics that deliver basement renovation clients easily?
  2. Seven marketing tactics that can deliver clients easily?

Trust me, if you owned a basement renovation company the choice would be obvious.

You’d know that the first article was written specifically for you whereas the other was written for anyone.

So once you establish yourself as an expert clients not only want to work with you but they’re willing to pay a premium for your time (and generally it’s just easier to deal with them because you get to know the type of person that owns a business in that niche).

Okay, now onto how to pick your niche.

I always start by asking myself questions to generate some ideas for niches to consider. Here are some of the things I consider;

  • Do you have any work experience in a particular business niche?
  • Are you a frequent customer of any businesses?
  • Are their any businesses related to some of your hobbies that you can serve?

Once you build a list of a few ideas I’d narrow them down to the top three options using several additional criteria.

  • Is there a profit potential in these niches?
  • What does that business earn per customer?

So for example, if we’re going to look at a kitchen renovation business – They earn between $10k and $50k on average per kitchen and generally operate on a 20% profit margin (so each customer’s worth between $2k and $10,000 dollars). So helping them attract more customers would be very beneficial for them and even if you only brought in a handful of new clients each month you’d be delivering them a ton of value.

You want to make sure that the niche you target has capacity to grow and that you’re able to deliver on that value. That way when they scale you scale.

For example, a single massage therapist can only see six patients a day and generally works five days a week. So you have a cap on how much value you can add. They’re fully booked at 30 patients a week.

A few further questions I like to ask myself before I enter niches are as follows:

  • How many businesses are there in the niche?
  • How many per city?
  • How much profit do they make per customer?
  • Is it a high dollar or a high transaction business?
  • What is the sales cycle of the business look like?
  • Are people searching to buy things like emergency plumbers or is it more like a kitchen renovation business where it’s a big purchase and they’re doing research?
  • Are there marketing experts focusing on this niche already?
  • How easy would it be for you to build a list of businesses in that niche?
  • How easy would it be to contact those business owners?
  • Do they have places where they congregate (Facebook groups, trade associations, conventions)?

These are just a few of the questions you can ask when you’re trying to pick a niche but I am sure you get the point.

All you need to do now is to make the leap and select your niche.  I guarantee that you’ll enjoy the focus, reduction in work, ability to scale faster and the knowledge you’ll gain as you become an industry expert…and I KNOW you’ll enjoy the profits that come along with it as well.

Good luck!

 

Leave a Reply

Your email address will not be published. Required fields are marked *