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?
michaelport 12:26 pm on August 22, 2010
The Difference Between Target Market and Niche http://bit.ly/bmVv6M
via uberVU
mpelly 12:47 pm on August 22, 2010
RT @michaelport: The Difference Between Target Market and Niche http://bit.ly/bmVv6M
via uberVU
jimkukral 2:54 pm on August 22, 2010
The Difference Between Target Market and Niche http://t.co/TJdUQaL from @michaelport
via uberVU
eduardomapajr 3:35 pm on August 22, 2010
RT @jimkukral: The Difference Between Target Market and Niche http://t.co/TJdUQaL from @michaelport
via uberVU
jmctigue 2:56 pm on August 22, 2010
RT @JimKukral: The Difference Between Target Market and Niche – http://t.co/TJdUQaL (from @michaelport)
via uberVU
CB_Affiliates 5:16 pm on August 22, 2010
RT @JimKukral: The Difference Between Target Market and Niche http://t.co/TJdUQaL from @michaelport
via uberVU
zensky 10:50 pm on August 22, 2010
Nice! RT @michaelport The Difference Between Target Market and Niche http://bit.ly/bmVv6M
via uberVU
juantipoff 2:35 pm on August 24, 2010
RT @michaelport: The Difference Between Target Market and Niche http://bit.ly/bmVv6M
via uberVU
juantipoff 2:35 pm on August 24, 2010
RT @michaelport: The Difference Between Target Market and Niche http://bit.ly/bmVv6M
via uberVU
Karl Staib - Work Happy Now 10:24 am on August 24, 2010
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 2:25 pm on August 30, 2010
RT@michaelport The Difference Between Target Market and Niche http://budurl.com/hupm great post #BBSradio
via uberVU
eduswiper 3:45 pm on September 25, 2010
Merchants this is key to your marketing efforts. What do you think?The Difference Between Target Market and Niche http://t.co/FAM6Iwc
via uberVU
Cindy Schulson 11:17 pm on December 16, 2010
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 11:01 am on May 14, 2012
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 11:24 am on May 21, 2012
I like that one. Thanks for sharing Mo.
Trudy Van Buskirk 2:59 pm on September 7, 2012
We were discussing this yesterday at my networking group. I love how you’ve made the definition so clear. Thanks 🙂
Cendrine Marrouat 2:43 am on June 12, 2014
The best article I have found on the topic. Short and clear.
Thank you, Michael!
Lorraine 11:49 pm on July 17, 2016
Such a deep anwres! GD&RVVF
kredit für selbständige ohne bonität 7:31 am on November 3, 2016
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.”
car student 10:22 am on May 17, 2017
ISABELA MATTE disse:Tenho uma cabeleireira que vem em casa e faz tudo no meu cabelo!! Mas as vezes dou uma passadinha no Proença! Não faço mais nada ultimamente.. só hidratações aqui e ali!