The Difference Between Target Market and Niche

It’s important to understand the difference between your target market and your niche. And, yes, there is a difference. Which is exactly my point.

You may have heard both of these terms before, and you may have heard them used interchangeably. However, in the Book Yourself Solid system, they are not synonymous.

There’s an important distinction between the two:

  • Your target market is the group of people you serve.
  • Your niche is the service you specialize in offering to your target market.

For example, you and I may both serve the same target market, say, service professionals, but offer them different services. I might specialize in getting clients and you might help them create systems for their business.

A simple but important distinction, nonetheless. What do you think?

19 thoughts on “The Difference Between Target Market and Niche

michaelport

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mpelly

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jimkukral

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eduardomapajr

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jmctigue

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CB_Affiliates

RT @JimKukral: The Difference Between Target Market and Niche http://t.co/TJdUQaL from @michaelport

zensky

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juantipoff

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juantipoff

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Karl Staib - Work Happy Now

I can see how people would confuse these two concepts and lump them into the same category. I like the idea of the target market being external (People we help) and the niche being internal (the type of work that comes from our hearts. aka the actions we love to do.)

prosperitygal

RT@michaelport The Difference Between Target Market and Niche http://budurl.com/hupm great post #BBSradio

eduswiper

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Cindy Schulson

Hi Michael – I like the simple formula of

Niche = Who (target market) + What (solution you provide)

When I help my clients create their niche strategy, we put together 3 pieces of the puzzle:

Who (Target market)
What (You and the solution you provide)
Why (Why people should work with you)

Thanks and warm wishes,
Cindy

Mo Mastafa

Great definitions Michael,

Another definition of a niche is one I learned from Eben Pagan. It goes “a niche is a problem many people have, that your product or service fills”.

Thought I’d share it. 🙂

Michael Port

I like that one. Thanks for sharing Mo.

Trudy Van Buskirk

We were discussing this yesterday at my networking group. I love how you’ve made the definition so clear. Thanks 🙂

Cendrine Marrouat

The best article I have found on the topic. Short and clear.

Thank you, Michael!

Lorraine

Such a deep anwres! GD&RVVF

kredit für selbständige ohne bonität

Brings to head that Jim Croce line, “There in no way would seem to generally be enough time to do the important things you want to complete as soon as you find them.”

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