Today I want to talk about niching. Niching is something that we hear the phrase thrown around so often. And it’s such a simple idea in concept, but its execution is usually difficult for people. And I think it’s difficult for us because we get in our heads, we want it to be perfect. We know it’s important. But we’re afraid to do it and for it to be wrong quote-unquote. And then we have to change and shift and move with it. So I did a presentation yesterday for a local women’s organization that I’m a part of here in Arizona called The Foundress. And I had five minutes to give a quick and dirty presentation on niching.
So what is a niche? I think a niche is how you define your services or the product you’re selling in a way that appeals to your target or ideal audience or customer. Niching is a way that we couch or show our services or products to the market. And we position it in the market so that people know; this is for me, this thing you are selling is what I need. And that’s why it’s so important because if people don’t know that this particular thing that we’re doing or selling or creating is for them. They’re not going to buy it because we, as purchasers, As humans, purchase from a selfish place, not in a negative way. But we are buying what we need, what’s going to help us, what’s going to make our life easier. What’s going to alleviate some amount of pain from our lives, okay? So that’s why when we are crafting and explaining the niche in our business, it has to be so carefully crafted. So something that I teach my clients is what I call the XYZ framework for how you determine what your niche is. And a lot of times when I’m talking about niche, I’m envisioning Instagram because ONE, I do a lot of work with clients on Instagram, TWO, if you have a business, you have to be on Instagram, it’s literally in the world today, especially post COVID. It is your sign to the world that your shop is open for business. And so we have to know how to say what we do in a really succinct way for Instagram. But also, when you think about that traditional elevator pitch, you want to be able to tell people quickly and succinctly who you are, what you do, and how you can help them solve their pain or problem through the thing that you are selling.
So back to the XYZ statement, I like to say, I help X, do Y through Z. The first part, I help X, X is who you help. I help women, I teach women, I coach women, but women are the women in the group that I’m serving, for example. But we need to be more specific. What type of women are you serving? Are they new moms? Are they Millennial Moms? Are they stressed out millennials, each of those words that I’m adding to the beginning of that phrase, lets you know very clearly, this is for me. I help post-menopausal women. If you are not a postmenopausal woman, you know that this is not for you, I help Millennial Moms, if you’re a millennial, but you’re not a mom, this service might not be for you. So we want to get really clear. For me, I like to help NEW entrepreneurs. So if you’re an entrepreneur, but you’ve been in it for years, this might not be for you, okay, so be really clear and really specific and narrow down to who your ideal customer is, and then phrase that in your niche. So I help X do Y, overcome Y, move through Y, achieve Y. It’s the thing that you’re helping your customer do. That is their goal. It’s the thing that they want. It’s the pain that they want to overcome. It’s the pleasure they want to experience. It’s an action. It’s the action that you’re helping them take. When you’re coming up with each part of these phrases you want to be using language that resonates and resonates with your people. So you know, you’re not going to say things or use language, languaging, or use words or phrases that do not resonate with your target audience. So, a stressed-out millennial has to identify as being stressed and as a millennial.
If it’s helping a stressed-out millennial mom overcome stress, Is stress the thing that she feels, that she knows she’s stressed? Is she googling about stress? Is she googling about overcoming stress? Is she talking to her friends or her partner about it? These are things to consider when you’re picking your languaging. What are the words that my target or ideal client is thinking? What are the words they are googling? What are the words in their brain that are keeping them up at night? What are they complaining to their partner or significant other about… make sure that the languaging is clear and precise and cater to the person you’re serving. So X, do Y through Z, the through Z is the method or the mayhem or the system that you use to move them through, you know, is it personalized coaching? Is it one on one coaching? Is it group programs? Is it this particular supplement or product? Is it a product line? What is the thing you are using as the vehicle to move them through and on their journey? And again, make sure whatever that vehicle is resonates with that make sure it’s the thing they are looking for, it’s the thing they want to purchase. So I help X, do Y through Z. You don’t have to perfectly be married to this framework. It’s just a simple way to make sure that you are getting each part of the statement and you have all the necessary pieces of your niche together so that you can really properly say what you do, how you do it, and why you do it. That’s the most important thing.
You know, a question I got yesterday is, how often should I can I change my niche statement. And I think the first thing to do is when you come up with your niche, do some market research. Figure out what your ideal customer is looking for needing the language that resonates with them, and then come up with your niche statement. And then take that statement to the streets, as strangers in coffee shops, talk to your friends that fit into the target audience, connect with people who could be your market researchers, and take their feedback. The feedback that I’ve gotten about everything I’ve done has been so helpful. And you have to have a willingness to shift and change and not be married to the things that you create. If they’re not appealing to your target audience, the more successful you will be will come from shifting and having a complete mind of service to cater to your people. Which means your niche statement is not about you at all. It doesn’t matter if it resonates with you. It doesn’t matter if it connects to you. Does it connect and resonate with your ideal customer? That’s the question to ask yourself.
So I help X, do Y through Z. Take that into your wheelhouse. implement in how you’re speaking about your business in the elevator, or you’re posting about your business on social media in your bio. And let me know if this was helpful. Shoot me a DM or take a screenshot of this episode posted on your story and tag why or what about this episode was helpful. And as always, if you love this episode, please rate, review, and subscribe to the podcast.
Regina Lawrence Esq. is a former trial attorney and law school professor turned soulful business & life strategist. She has found that so many entrepreneurs have these brilliant ideas and dreams but don’t know how to take the dream and create a system or structure to make that dream & idea profitable. That is where Regina comes in. With discipline, consistency, systems & structure, we can’t help but create profit & fulfillment from our soul-driven business ideas.
Regina’s approach to coaching marries her background in legal analysis, spirituality, mindset coaching, holistic nutrition, and neuroscience to create an experience that will assist you in getting into alignment, get clear on what you are here to do and what steps and systems to implement to make that dream a profitable reality.
You can find Regina on Instagram @reginaalawrence.