Wednesday, February 27, 2008

My niche

The ICA coaches are being encouraged to focus on a specific target group and to narrow down their prospective market within the field they want to be coaching.
In other words: coaches have to identify a niche. Some examples: a lifecoach who is coaching married couples, a business coach who focusses on retail marketing, an executive coach dealing with executives who are travelling much and have difficulties to keep fit, a spiritual coach who is targeting ministers (church).

For some coaches it will be quite obvious what their niche will be, because they have been around in a particular field themselves in a certain role. For others identifying their niche can be a real journey.
From a marketing point of view having a niche is as good as gold! As soon as you know your target market you can start communication with this target market with the right tools and instruments.

Talking about niches: my own niche will be the New Zealand Real Estate Industry, with real estate salespersons and management being the target groups. Abstract from my business plan:

Tall Tree Coaching aims to deliver one-on-one and group coaching targeting real estate professionals working for real estate companies in New Zealand.

People working in the (New Zealand) real estate industry as salespersons all own their own sole-trader business and have a contract with one real estate company to list and sell properties for this specific company.

Real estate salespersons are available 24/7 for their businesses, a source of work-life balance frictions. Only a few make it to the top and 80% of the new salespersons quit in their first year of operating their business. The profession is mainly commission-based, which creates a highly competitive working environment, not just between companies but also between salespersons working in the same branch.

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