Coaches often ask me: “Is this a good coaching niche?” What they really want to know is — will focusing my energy this way repay me with a consistent flow of clients who are willing to invest? That’s the 6-figure question.
First, do you really need a coaching niche?
Ultimately, there are three reasons to niche: ease, reach and profitability. We choose a niche so we can market less, earn more and help more people transform.
If your intention is to build a solid long-term coaching business that you can rely on for a satisfying income, it’s worth it to choose a smart niche now before you invest time, money and energy on your branding and marketing.
A smart niche helps you:
- Quickly become a coach in high demand through momentum.
- Leverage your efforts and concentrate your message, instead of being all over the place.
- Make a bigger impact and command higher fees.
Test the viability of your current coaching niche with these powerful questions.
Stand Out in the Crowd
Does your coaching niche help you stand out in the crowd?
If yes, give yourself 2 POINTS. If not, consider narrowing your niche before you go much further.
There are more service entrepreneurs than ever before. All are vying to get attention online and offline. People only pay attention to the messages that speak to their most important desires and problems. Everything else is ignored or deleted.
For that reason, go beyond identifying your coaching track — such as relationship, wellness, business coaching — and refine your niche in 3 additional ways:
- Choose one narrow audience that’s easy to find.
- Zone in on one hot issue or goal that audience faces.
- Customize all your messages and offers to help them achieve that outcome.
That’s how you’ll get noticed, build rapport quickly, continuously enroll clients that are eager to develop themselves.
New Client Accessibility
Can you easily find hundreds of your prospects in your niche right now?
If yes, give yourself 4 POINTS. If not, your niche may not be viable.
Having a viable niche feels like you have access to a deep and reliable well full of potential clients. You never go thirsty for clients.
Some niche audiences are “overdrawn”. For example, the large group Entrepreneurs is barraged with messages from all sectors.
If you want to serve entrepreneurs, give yourself the advantage of narrowing to a specific industry or type of business owner. Be specific. Also, pick a unique topic critical to that group that hasn’t been claimed yet. You’ll differentiate yourself from all of the other providers for entrepreneurs and they’ll be willing to co-promote with you.
Targeting a narrow audience gives you a boost, especially if there are already events, associations and publications designed for them.
Know What Your Audience Wants
Do you know exactly what your target audience wants so much that they’ll invest to get it?
If yes, give yourself 3 POINTS. If not, dig deeper before you launch your niche.
With a bit of fun market research it’s easy to find out exactly what your target audience wants (instead of what you think they need). When your messages and offers reflect their top goals, you earn their trust. They feel understood and want to work with you.
You know this … people reach for professional support when they have a big goal to achieve or a painful problem to solve. The more acute their problem or goal, the more they are willing to invest.
A niche like Women in Transition doesn’t usually pay off because it’s trying to cover too much ground. Imagine how narrowing to one specific type of transition — first time pregnancy, re-entering the work force, or menopause — would help you standout with that audience?
Would you invest in what you’re offering?
If yes, give yourself 1 POINT. If no, your current niche might not earn well.
If you, in all your years, would not have invested your time and money in the solution you’re offering, it won’t inspire your audience either. For example, if your niche is Stay at Home Moms, you may have already realized that they love you and your free stuff but aren’t likely to take a greater step. That’s because, first and foremost, they spend their money on their kids. Refine that audience or choose a better one. You can do it!
How did your coaching niche do?
8-10 POINTS = You’re on track for a profitable niche!
6-7 POINTS = Test this niche in the marketplace or refine now for the best bet.
0-5 POINTS = Choose a better niche for long-term success.
This quick test might have either given you confirmation to go full speed ahead or you might have dodged a bullet. Wherever your score landed, there is an ideal niche for you. Let me help you think out of box. Sometimes the best niche for you is easier to discover with another set of eyes.
Still, wondering about choosing a coaching niche?
- Choosing a niche doesn’t prevent you from working with people who don’t fit the niche. This is about empowering your marketing efforts and gaining quick success rather than limiting your clientele or excluding anyone. People outside of your niche will contact you.
- Also, don’t worry about getting bored with your niche. You’ll find great diversity in each human being you coach. And, it’s likely that big opportunities or additional niches will come your way because you’ve claimed a niche.
- Lastly, some coaches feel that they aren’t qualified to serve a narrow audience. You can coach anyone about anything so trust yourself and your skills! Become an expert in the people you serve by coaching them.