In my last episode I listed off 10 Ways To Be More Strategic In Your Coaching Business as an overview to my next 10 episodes.
In this episode I’m focusing on the FIRST way to be strategic in your coaching business. In other words, strategizing this step is what you do before you do anything else — website, offers, social media marketing.
What is this #1 way to be more strategic? Choose a viable coaching niche, of course.
This episode and the other 9 to follow are all part of my Coaching Business Checkup series. I will have a free downloadable Coaching Business Checkup for you at the end of this series, so stay tuned!
One Decision That Rules Them All
MBAs and business experts agree that if you niche your business in a strategic way from the get go you’ll dramatically increase your ability to succeed and sustain success.
And that’s truer than ever in this information age where there are more entrepreneurs and companies flooding the Internet with marketing messages every day.
You can’t attract clients if you can’t attract attention.
And attracting attention is mostly about standing out in some way. Standing out in your niche – what you do for whom is the easiest way to stand out.
If you want your message to get through to people who could become your clients, then you want to speak to a very specific group of people about what they care about most.
Strange isn’t it?
The more specific and focused your message is on a unique target audience and the big acute problem they face, the easier it is to engage people and build relationships of trust. And then enroll them.
You know, coaching niches are my super power.
I decided to strategically focus on this big problem for coaches 17 years ago because all around me I saw that coaches were utterly confused, frustrated, and in many cases, paralyzed by the niche decision. For many it’s what had them give up for good on their business.
So for coaches the agonizing question — WHAT IS MY NICHE? — is the most acute big problem they have. And it’s related to attracting enough clients who will invest. That’s the other acute problem coaches face.
And I know that once that niche piece is settled it opens up ease in all the steps that follow – messaging, offers, marketing – it all becomes a more graceful and intuitive process once you know your niche.
It was a smart strategy then for me to focus in on coaches — my target audience — and on the topic that’s most painful for them. I could pull in my background knowledge in marketing and my experience writing coach training curriculum and training new coaches. It’s a good fit.
I wanted to tell you how I came to my niche to illustrate the strategy behind it. It’s not rocket science but it was a thoughtful process. And that’s what strategy is.
Many coaches miss this crucial step of choosing a smart niche. It’s partly because of a misunderstanding of what makes for a successful coaching niche. And partly, it’s fear.
Can you relate to that?
- Maybe you fear that you don’t know enough to specialize.
- Or, you might fear narrowing to one group and excluding others. (Although exclusion isn’t really necessary because targeting an audience is about ease in marketing not exclusion or limitation of who you can have as a client.)
- Or you might simply fear making a decision and committing to it.
All of these are understandable fears.
But here’s the thing that I remind myself of when I’m fearful. Fear rises up when you’re at an important threshold. It’s how you respond to fear and still move forward on your dream that builds courage and confidence. Moving forward decisively is the way out of fear.
What is a Coaching Niche?
A coaching niche is the intersection between a viable target audience + their biggest problem/desire + what you bring to the table to help them get there.
Let’s break this down.
- There’s a specific group of people who are seekers. (They do invest in their growth.)
- They have a big acute problem that is in the way of something they really want.
- You can help them solve it and reach their goals with your toolbox of talents & skills
And so, once you’ve chosen that niche, you conduct a bit of market research and then create messaging and offers that fit their top challenges and goals bringing your supportive skills and tools to the table.
Now, let me illustrate how choosing a niche can be strategic using examples of niches my recent clients have chosen with my help.
Here are two that are directly related to specific subject matter expertise or recent professional background that the coaches could leverage in their niche:
One coach helps parents empower their teen daughters to develop confidence, integrity and resilience. She has a Masters in Clinical Social Work plus experience working with teens professionally, and 3 teens of her own. Her niche is a great fit.
Another coach helps executive assistants break through the limitations of their role and advance to the next level. She has 8 years of experience as an EA and a string of promotions that rewarded her ingenuity and excellence in her roles. Her niche is a great fit.
Another coach with over 20 years experience in nursing and health care is focusing on helping nurses heal burnout and work differently.
Leveraging your recent experience or expertise is the most powerful way to niche.
But not all coaches have subject matter expertise. Instead it may be that your current life circumstances could become an ideal niche. For example:
One of my clients stumbled unexpectedly into being a father and a husband. It happens. In the thick of that he realized it’s a common and difficult experience for young men. So he’s targeting that group to help them find grounding and maturity in the upheaval. A heartful niche based on a personal context.
Another coach decided to work with women re-entering the workforce after a long gap raising children. She knows first hand the challenges that come with finding flexible, meaningful work after a big career gap. And as a bonus we realized her Ph.D. in Industrial Organizational Psychology related to employee recruitment and selection processes was a bonus point of relevance and skill related to this audience. A super helpful niche!
A client who recently turned 49 felt called to remake her life from the inside out and create an intentional journey moving toward 50. So she’s targeting women at 50 to break free and rewrite the rules of their lives. This is a personally motivated niche.
It’s rare that targeting a specific age makes for a good niche but after market research it was clear that 50 is a point in time for women that’s rife with so many physical & emotional challenges and creative yearnings. And we were able to create a transformational program for women at 50.
So you can see there are different ways to approach choosing a niche. The main thing is to think it through strategically.
Remember, don’t just sell coaching to a general audience. Instead, create a program with milestones to help a specific audience overcome specific acute challenges on the way to an ultimate goal.
That’s how you’ll become known quickly and attract a steady stream of clients who pay well.
Coaching Niches That Lack Strategy
Topical niches can be powerful if they are closely linked to a tangible outcome that a specific group has. For example, I’ve known coaches who focus on helping business owners create systems or coaches who focus expertise in something like the Enneagram to help corporate leaders master leadership in a personalized way.
But some topics bomb as a coaching niche:
- Limiting Beliefs
I’m guessing those topical niches bombed primarily because these challenges are usually chronic problems. They are challenges that people are used to living with and so they aren’t inspiring people to actively seek and invest in solutions.
All coaches can help any existing clients with things like stress, limiting beliefs and overwhelm. But in marketing messages and on websites these topics tend not to inspire enrollment except for a short engagement at a low price.
It’s missing a specific target audience and their ultimate outcome as an anchor point. But even if you did attach one of these chronic problems to a target audience and their goal, it may not feel acute enough to the audience to inspire investment.
Similarly, big overarching goals or life skills can bomb for the same reasons above:
- Self Care
- Work/Life Balance
- Law of Attraction
If you search for topics like these on the Internet you’ll find millions of articles on them. Great support for free but not likely to result in paid engagements with long-term clients. And if clients are short term for low fees, it means you have to work with a lot more people. And that means more marketing and enrolling moments for less income and profit.
Strategizing a smart niche for a viable audience isn’t a needle in a haystack kind of equation. It’s more like the beginning of a jigsaw puzzle where you try to find the opening move that quickly builds momentum.
If you’re stuck and struggling with your coaching niche, let me help you over this wall.
Let’s have a Strategy Session. It will focus you in and give you direction for everything else you create in your coaching business. It will help you stand out the crowd and build your brand & reputation.
I’ll send you some exercises to start then we’ll spend 90 minutes brainstorming on the call. I’d love to work with you. Sign up!
In the Next Episode we spring into the next logical piece of strategy for your coaching business after you’ve landed your target audience and niche.