The vast majority of coaches do not have a specific market niche. We can speculate that there are a number of reasons for this. One could be due to coaches' desire for variety and options – having a niche might seem to restrict our options. We also don't like the thought of closing down possibilities - and selecting a niche seems to do just that.
The truth is very different. And there are seven clear benefits of having a specific, defined niche. Read on to discover what these benefits are.
Reason 1. You will get known fast
When you have a niche, as you’re not serving a mass market, you will get known by the smaller community faster. Smaller, specialist communities are tightly-knit – they typically have a rich networks of communication links. So when you're a coach with a niche, members of that niche get to know about you rapidly.
Reason 2. You'll know what your clients' problems are
In a diversified mass market, clients have many different problems. Mass market coaches are therefore unlikely to be able to predict the type of problem a potential new client may have.
As niches are homogeneous and focused, you can quickly identify the biggest problems faced by that niche. So you can spot what your clients need faster, and be able to clearly articulate these needs.
Reason 3. You will get credibility fast
You get more credibility when clients feel you understand where they are coming from. When you can show you understand their problems, you are part way to helping them resolve them. And when you have solutions to their typical problems, you will also get known for your approach and solutions.
Then people will refer other potential clients to you. People talk - especially satisfied ones. When you provide an excellent service to someone they will pass on your name. When you couple these facts with a small, focused community, your reputation will spread rapidly amongst your target market.
Reason 4. You will get a name as a specialist
As a coach, you want to be the first person your clients think of engaging. Getting a name as a specialist or expert within a community is an excellent way to accomplish this.
After all, everyone wants to work with a specialist, not a generalist and people like recommending specialists. Think – would you want your local GP or a heart specialist to perform open-heart surgery on you?
Reason 5. Promotion is easier
Promotion is much easier when you have a niche. Both word of mouth promotion and PR are more likely as there is an angle. The press, as well as clients, like to label people and companies. If they can label you in relation to your niche they will remember you – and so will their readers.
Reason 6. Your positioning and pitch are easier
Your pitch for what you do is easier when you're a specialist in a niche. As you have focus, and you know what the issues in your client's niche are, you can readily articulate both the common problems and your solutions.
Your pitch is more relevant to your market as you give exactly what is needed, no more, no less. And as a result, you're more likely to get excellent client satisfaction ratings, which help with testimonials and referrals.
Reason 7. Coaches who niche simply make more money
If the previous points have not been persuasive enough, here’s the kicker. Coaches who have a clear niche make more money, have fuller practices and find it easier to get new clients.
One of the highest paid coaches in the world is Chris Barrow, who focuses on teaching dentists how to make more money in their dental practice.
Bonus Reason. The whole is greater than the sum of its parts
You may have noticed that all the above reasons work synergistically in your favour. When you know your clients' biggest problems a number of things happen. You appear intuitive and well organised. When you can reel off the top five problems your client is likely to experience, you immediately increase your authority and standing.
Introductions are easier if your clients have already heard about you. When you know your clients' problems you can more easily create products and services to help them. Having these products and services available makes promotion and PR easier still. And more PR opportunities result in more exposure for you, further increasing your credibility.
All of this supports your getting more coaching business. And that's why we're here, is it not?
