INDEED, FIVE ASPECTS OF YOUR BEST NICHE


INDEED, FIVE ASPECTS OF YOUR BEST NICHE

Are you having a hard time nailing your niche? Well, you have to figure it out if your eyes are set on becoming a hyper-growth company. Unless you pick a niche, no matter how small it is, you can create a stream of predictable revenue and make sales scalable—all of which are essential for hyper-growth.

Why picking a small niche is better than a broad target market?

  • It’s better to be a big fish in a small pond than vice versa. It becomes easier to refocus, retarget and reframe than completely change your offerings often.
  • Standing out in the market is the best way to grow out of word-of-mouth marketing. It becomes easier to stand out when you are in a small pond.
  • When you are having your toes dipped in multiple ponds (read markets), you will confuse your products about what it’s really that you offer.

You have to be careful about picking a niche. Confused about how to choose one? Well, here’s a simple step-by-step approach to prioritize a niche.

The 5-step approach to determine how ripe a niche is for you

1. Popular pain
Think about what pain you solve. It can be low conversions, missed deadlines, inaccurate forecasts or anything that’s been bothering your prospects. Pick such a pain point in your niche that you can solve with your product. 

At the same time, don’t get too narrow with the pain. It has to be common enough to get you a good amount of customers. A quick tip to find the pain—it’s when and where people are ready to pay money to solve it not once but repeatedly.

2. Tangible results
Prospects need more than a vague result to buy your product. If you are offering the main result as ‘peace of mind’ or ‘better sleep’, it isn’t enough. People need some form of tangible results they can relate to, something on the lines of ‘Increase your leads by 125%’ or ‘Close leads in 24 hours’. You can also visual examples of your results or previous customer testimonials to support your tangible results.

3. Believable solution
You spin any story about amazing results you can fetch for them. But why should they believe you? 

The prospects have to believe that you can deliver the results and that the results will work for them. Detailed case studies of previous customers from a similar industry will help in your favour. Being honest, confident and authentic will add to your value.

4. Identifiable targets
If you aren’t able to identify your targets by building a list of prospects, channel partners or marketing options, then you can’t go after them. Focus on building specific characteristics that help you to identify the right prospects.

5. Unique genius
If you want to close deals or get found, then you have to be unique. 

What sets you or your business apart? Every business has its unique strengths, weaknesses and superpowers. It can be anything like a talent for money, innovation, relationships, community, etc. 

Find out what it is. For some, it can be hard to put your finger on it. But it’s there. Think about your special advantages or the characteristics that make you stand out. If you can’t come up with anything, then go for the personal stories of founders and employees that directly connect with the pain points of the prospects.

Have you picked a niche and decided on that unique selling point?
Well, then it’s time to put it out in the world. Promote your business with the support of that unique factor that sets you apart. FaceValue, The Purchase Generator is all you need to create predictable revenue and achieve hyper-growth. With the FaceValue App you easily define the right target groups (Nail your Niche!), build a predictable pipeline and make sales scalable. Load the Brains with your brand information and with one click you activate all 20 Points of Purchase. Discover here how.

Learn how to Nail your Niche in 5 steps: Indeed, 5 steps to nail your primary and secondary niche.

 

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This blog is excerpted from: ‘From Impossible to Inevitable: how hyper-growth companies create predictable revenue’ co-authored by Aaron Ross and Jason Lemkin.

Break your revenue records. The Silicon Valley’s 'Growth Bible' makes very clear how to get to hyper-growth and the work needed to actually get there.

 

Try FaceValue now and get for FREE the bestseller 'From Impossible to Inevitable: How Hyper-Growth Companies Create Predictable Revenue'. Try It Now.

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