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    Why Women Business Leaders Need to Develop a Niche

    The question every woman business leader and entrepreneur should ask is, “Who is my audience?” Without a clear picture of your audience, how can you market to that segment? It sounds scary to many business owners when you suggest narrowing their market, but it is necessary to develop that segment to increase sales and profitability.

    I found a great article by Marla Tabaka on “How and Why to Develop a Niche” that gives some great reasons why  developing your niche can help your business grow and prosper. Here are my thoughts on Marla’s suggestions:

     

    More effective networking
    Marla makes a good point when she says networking can sometimes be too broad. In other words, instead of asking your networking groups for leads in general terms, be specific. Asking your group to help you find a specific person will remind them of someone they may know who may fit your needs.

    More effective marketing
    The point here is to know exactly who your audience is, first and foremost. Marla suggests that to know your customer you must put in the time to research the segment you want to target. Know your niche, become the expert, and you’ll find greater success.

    Why choose only one niche?
    According to Marla, master one niche first, then when you have become the expert in that area, and only then, move on to other niche markets. I think this is great advice. Often times we try to do too much too soon, thinking the rewards will be greater. But spreading yourself too thin can result in failure.

    Choosing your niche
    Marla gives some tips on how to decide what your niche should be by asking yourself these questions

    • Who am I most passionate about working with?
    • Who will benefit most from my product or service?
    • What markets do I know the most about?
    • Who would be my ideal client/customer?
    • What customer/client gives me the most positive feedback about my work?

    Identify how to reach your niche audience
    There are myriad ways to market to your niche market. Make sure your website speaks directly to that niche market, start a blog as a niche expert, attend tradeshows and conferences geared to your niche market and develop your niche elevator speech so you are ready at a moment’s notice to speak.

    Enjoy being a niche expert
    As Marla suggests, enjoy being the go-to person in your niche.

    I thought these were some great suggestions, and I plan to utilize some of her ideas myself. Today more than ever, developing a good niche marketing plan can make or break your business, and paying attention to your customers or clients is essential if you want to succeed.

    One Response to “Why Women Business Leaders Need to Develop a Niche”

    1. Thank you for posting! Great words of wisdom for all women who own businesses.
      In our “male-dominated” profession of property damage restoration, I think we finally found our niche recently. Our mission is to strengthen the communities we serve by helping local businesses write disaster preparedness plans. And now, we have a voice, a direction, and a focus.

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