How do you view niche research -- is it a one-time event ("Whew! Glad that's done; now on to the next thing...") or is it an ongoing process?
If niche research is something you did once and thought you were done with, you're missing the boat, big time!
Customer needs can evolve and shift over time as factors like technology, the economy or industry, cultural and political circumstances change. The recent shift in the global economy is a good example.
When I first started in coaching, there weren’t that many coaches out there and only a very small number had any business experience to begin with, so there was a real demand for basic marketing coaching. A few years later, my niche expanded as more and more coaches explored using the internet to crank up their marketing system.
Lately, as the coaching field becomes more crowded and sophisticated about marketing, my clients have been more concerned with standing out in some unique way and figuring out how to expand their revenue streams beyond individual or group coaching.
Two research tools that I’ve found invaluable are eyes and ears – not
just my own, but those of my target market, as well. Finding and staying plugged in to
your target market is essential. Ask questions, listen carefully and look for
trends and patterns.
A super tip for researching your coaching niche is to keep an eye on the best-selling books written for and about your niche. Books are often the first thing people invest in when they're looking to make a change. Don’t just read the book, though – check out any resources mentioned in the book and keep tabs on what’s new at the author’s website if they have one. It’s a great way to keep pace with the leading edge for your niche.
Keep your eyes and ears on your niche and let it lead you towards new paths for success.
