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10 Reasons to Choose a Target Market
Choosing a target market is one of the most powerful moves you can make in your coaching business, and yet few coaches do it. Why? It’s scary to voluntarily reduce your potential market, especially when you’re just getting started. Won’t alienating a large portion of the public cost me clients and income?? But the truth is that narrowing your focus–going an inch wide and a mile deep–is the key to succeeding as a coach. You’ll find out why below…
Coaching Effectiveness: A coach who serves a single market has the time and resources to develop tailor-made solutions specific to that audience. This in turn leads to better coaching and better results. A specialist can offer strategies that are proven to work for their market’s unique situation, while also foreseeing and avoiding common problems and pitfalls. A generalist can’t afford to do this because they’re forced to offer a single solution that caters to many different types of people and problems.
Assumption of Ability: As you’ll see, many of the benefits of choosing a specific problem to solve also apply to choosing a specific group of people to serve. This is especially true when it comes to assumption of ability. When you focus intensely on one specific group, at the exclusion of all others, that group naturally assumes you can serve them better than the coach who serves all. This is an assumption that can double your business.
Market Attention: Catering to all people is like calling out “Hey, people!” in a packed arena. No one will pay any attention. What a difference it makes when you call out “Hey, John, in the red sweater and white hat!” In that case, John is going to look. You’ll seize his attention because you’re specifically calling out to his reality. The same happens when you call out to the specific reality of your prospects.
Market Attraction: When you speak directly to my pains and problems, or my hopes and dreams, as if you’re in my head, I’m going to be interested in what you have to say. When you speak my language—something a generalist can’t do—I’m going to listen.
Market Connection: Connection requires understanding. When you focus, you get the chance to truly know your market, their language, struggles, their hopes, their fears. This knowledge allows you to connect with them on a far deeper level than any generalist can. And where there’s true connection, there’s an easy path to enrollment and results.
Market Authority: You can’t be known for something if you try to do it all. Making a name for yourself, especially in the crowded market of coaches and consultants, becomes progressively easier the closer you get to becoming a market of one—the one person who exclusively serves a particular niche. Generalists are little fish in big ponds; specialists are big fish in smaller ponds (the ability to reach the world online makes even the smallest segment large enough for most coaches to thrive).
Marketing Mediums: When you focus on a specific group of people, it’s must easier to find them online and offline. Compare finding “business owners” with finding “owners of competitive gymnastics clubs.” The first is so general that it’s hard to know where to begin while the second instantly brings to mind specific mediums to use (if you’re in the gymnastics market, of course).
Marketing Message: When you find those places to promote your coaching, it’s far easier to deliver a message that—as we’ve seen above—grabs the attention of your ideal prospect, pulls them in, and connects with them on a deep level. A general marketing message is too vague and weak to work. A specific message made just for me is going to outperform it every single time. (Imagine trying to talk to moms and college students about, say, money matters at the same time. Because of their unique situations, you’d be forced to be vague…and forgettable.
Pricing Power: Specialists can charge more because their solutions are tailor made to your unique situation. The more work I have to do to adapt a general solution to my specific problem, the less valuable that solution is to me. If you help married men with daughters make the most of their family relationships, you’re going to be much more valuable to me than someone who also coaches men, women, and children of all ages using the same generic methods.
Satisfaction of Selection: One of the greatest benefits of choosing a specific niche to serve is the satisfaction you get—not just from becoming a master of a particular audience—but from working with only those people you love to serve. A generalist has clients from every walk of life, some excellent and others not so much. A specialist gets to hand select the segment they serve, avoiding the clients that drain and highlighting the clients that energize and inspire.
For these reasons, and so many more, the right move for a new and up-and-coming coach is to choose a specific market to serve. Want to know how to do it? Click here.
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