Do You Need A Niche Marketing Business?
Is it beneficial to have a niche in your marketing services? I never thought so, until I decided to relaunch my socials for my freelance marketing business.
For a bit of background, I started Steph Writes Stuff a month before COVID hit. Originally it was a testing space for me to explore new marketing ideas and a getaway from my mundane clients at a social media agency. Then as COVID hit and Furlough became a buzzword…the blog grew into something else. After a few short months StephWritesStuff turned into my own little side hustle. It was accidental in some ways, and three years later it’s rather overwhelming.
When I moved to London a lot of my content became touristy, and thus did my audiences. I lost my little tribe of freelancers and potential clients, and thus my interest in marketing my services on Instagram. When I picked it up again via a new account, I ended up finding my ideal audience and a plethora of REALLY niche marketers - and when I say niche I don’t mean industries like events…like Marketers specifically for wedding planners or event spaces.
The discovery got me thinking, do you need a niche to be a successful marketer? In this blog I’ll be going over some pro’s and con’s of niching your marketing business…I’d love to hear what you think in the comments.
Pro’s of working with niche clients
Specialisation
Focusing on one specific niche allows you to develop a trusted level of expertise in that area and become the go to expert for clients in that industry. You’ll have a list of success stories longer than your arm and clients will ultimately be more likely to trust you and your services.
Targeted marketing
Niche clients allow you to target your marketing efforts more effectively. You can create campaigns that are specifically designed to reach your target audience, which can result in higher conversion rates.
Repeat business
When you work with niche clients, you are more likely to establish long-term relationships. This can result in repeat business, which can be beneficial for your bottom line.
Word of mouth
Niche clients are often part of a close-knit community. When you do good work for one client, it can lead to referrals from others in the same industry.
Premium pricing
Working with a niche market allows you to position yourself as an expert, which can result in the ability to charge premium prices for your services.
Con’s of working with niche clients
Limited market
Focusing on a niche market can limit your potential client base. This can make it difficult to grow your business if you rely solely on one niche.
Limited services
If you focus on one specific niche, it can be challenging to offer a wide range of services. This may limit your ability to meet the needs of potential clients outside of your niche.
Saturation
Depending on the size of the niche market, there may be a lot of competition. This can make it challenging to stand out and attract new clients.
Seasonal demand
Depending on the niche, demand for your services may be seasonal. This can make it difficult to maintain a steady stream of income throughout the year.
Dependency
Focusing solely on a niche market can make your business dependent on the health and success of that market. Any changes or disruptions within the niche could have a significant impact on your business.
So double down or diversify?
There’s definitely benefits to niching your audience. But for me, I think I’m a fan of a diverse client base…if anything it’s exactly why I love Marketing. It’s a constant learning curve, full of new things to learn…I feel niching myself would be a massive let down.
But what do you think?