Building a Micro Niche: Going Beyond Specialization

Seeking out a niche for your services or business is often enough to differentiate yourself from a crowded market place and help focus your business development efforts. But in certain industries, it may not always be enough to land the type of highly specialized clientele that would drive your success. While nobody can argue the value in finding the niche, you could run into the problem of not having the niche be specific or narrow enough to give you the optimum advertising effect you are most likely seeking.  There is another market that can propel your business and dig even deeper into the audience base best matched to the product you are selling: the micro- niche.

Why a micro niche?

If the niche works well, then why go smaller? With expansion of websites, blogs, and the explosion of advertising through social media, the competition for attention can be heavy. Developing a micro-niche can give you the opportunity to become the primary resource for a smaller client base as opposed to being one option of many for a larger group of potential clients.

How is this accomplished?

The best way to research potential micro-niches suited to your needs is to search through your larger target audience to find a popular niche. There is one interesting experiment that you can try from the comfort of your home computer.  Go to Google and try typing in your professional title followed by the word “for”.  For instance, if you are a CPA, you can type in “CPA for”.  Google will auto suggest a number of smaller categories that are often searched. Using the example above, you will see suggestions for “CPA for dentists”, “CPA for startups”, “CPA for small business” and “CPA for investment banking”.  All of these categories would represent a niche.

Drilling down to a micro-niche

From there, blend your experience with an identified market opportunity to find your micro-niche.  For instance, within “CPA for investment banking”, you could identify your expertise as valuation for acquisitions or sale.

Marketing

So you have identified some possible micro-niches to focus your attention on, now what? Go about your business development with the same tenacity you would for a larger group. Be passionate about the subject, letting your enthusiasm be apparent in any marketing activity. Put links to your blog or company website when corresponding with potential and current clients. Stay updated on product innovations and new services available through other companies.

To sum it up, going smaller can actually help you grow as long as you have correctly identified market opportunities that exist for a viable micro-niche. Making your company the main resource for these clients will benefit your company if your marketing includes frequent updates, promotion of your authority on the subject, and is delivered where potential clients are looking for it. And finally, you can maintain the trust of your clients by offering the most current information on your website and being sincere and enthusiastic in your messaging.

If you would like to find out more about how focusing on a micro-niche can help your practice

I invite you to contact me.  I have been helping professional service providers such as CPAs, attorneys, and financial services providers focus their business development efforts on profitable micro-niches for over 10 years.  If you would like to find out about how a narrow focus and the pursuit of the right kind of clients can lead to big results and increased profitability, email me at david@themirconichemethod.com.

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