Yes, You Should Niche Down.
Summary
- People don't travel more than three miles for a gym, so focus on a local market.
- Even in a small country, you can find enough customers nearby to make plenty of money.
- Niching down is important; target people based on their activities and the specific pain they're experiencing.
- Think about three things: who you're going after, what they do, and how you will help them.
Video
How To Take Action
I would suggest implementing a strategy that focuses on your local market. For a small business or entrepreneur, especially if you run something like a gym or a service-based business, concentrate on attracting customers within a three-mile radius. You don't need to look far to find enough customers to make a good profit.
A good way of doing this is to niche down. Start thinking about who your ideal customer is, what activities they engage in, and the specific problems they have that you can solve. For example, if you own a gym, identify the type of workouts people in your area prefer and the fitness goals or issues they are facing. This helps you cater precisely to their needs.
Identify your target audience by analyzing local demographics and interests. Create marketing materials that speak directly to their activities and pain points. Use local SEO to improve your online presence, so people nearby can easily find you.
Focusing on community involvement is another low-cost, high-value action. Attend or sponsor local events, collaborate with other local businesses, and engage with the community through social media. This raises awareness about your business and builds trust within your local area.
Lastly, consider offering promotions or discounts specifically for local residents. This not only encourages initial visits but also helps in building a loyal customer base.
By zeroing in on your local market and narrowing down your niche, you can make effective use of your resources and grow your business without spending a lot of money or time.
Full Transcript
I mean you just said you're pretty niched and you just named like everything I started in a local market okay so people don't travel for more than three miles for a gym so I don't care how small your country is you have this like I I have to go wider it's like dude you have enough money there to make plenty and plenty of money so yes the laws of niching down apply to you and what you want to think about there is who I'm going after what they do in terms of activities and then what sort of pain they're suffering from that you're going to help them with and if you get who what how then you have three layers that you add to your niche
