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27. A Niche is Not Enough: Where Demand Actually Exists
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There is more to creating demand than "picking a niche." The question is - how do we know that people want it and are willing to pay for it? This is why demand doesn't come from picking a niche, it comes from CREATING it (through thought leadership).
As a lifelong marketer, I helped companies across the world understand why something was or wasn't selling, and whether to change the product vs change its messaging in order to create demand.
For example, a tech startup accelerator would never say "pick a niche." They'd tell you to look at the market and at what consumers were doing, saying and complaining about. That's how we proved to investors that demand existed before we even created a new product or service.
So why is it that "pick a niche" seems to be the beginning and the end of the conversation in the online coaching space?
Demand actually comes from 3 things:
- Being better than your competitors
- Being different from your competitors in a way people are willing to pay for
- Serving a gap in the market, which means you really have no strong competitors.
This is why I'm so big on thought leadership. Because in order to see the missing gaps, you need to be paying attention. The people that make the most money are those who think about their people A LOT. And once they spot a gap, there is less competition.
In this episode I am going to share:
1. How to find the unmet need or a gap in the market
2. Why demand exists in the gaps, and how solving for gaps make customers less price sensitive.
3. Why solving for gaps solves for imposter syndrome and self doubt bc you truly have no competitors.
4. How to stay in your lane to not second guess your thought leadership
This is what I mean when I say you don’t need to post more. This is what I mean by creating demand peacefully. Visit the Reclamation page on my website. Doors open on May 15th and I want you to ask any questions that are popping up for you right now!
Connect with me:
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