19. Choosing a Niche for Your Social Media Management Business
Do you have a niche?
Riches are truly in the niches!
This week we are diving into niching down to scale up in your social media management business. In this episode, we’re going to dive into what is a niche, why you need one, and of course, we’re going to get actionable with how you can pick a niche and exactly how specific it needs to be.
Welcome back to another episode of Hashtag Managed!
This week we are diving into niching down to scale up in your social media management business. Nic - NEESH - Niche - it’s pronounced so many different ways, but no matter how we may pronounce it we need to have it. In this episode, we’re going to dive into what is a niche, why you need one, and of course, we’re going to get actionable with how you can pick a niche and exactly how specific it needs to be.
What is a Niche?
A niche is a specialized segment of the market. In other words, a special focus area! What does that look like for us social media freelancers?
You can categorize yourself by platform (Instagram, Facebook, TikTok, Pinterest), by industry (tech, travel, insurance, apparel, etc.), type (service-based vs product-based), and/or even by your specific skills (Facebook ads, content creation, graphic design, content strategy).
For example, your niche could be Instagram management for product-based companies within the travel industry. I know that it may seem scary to narrow down the playing field when clients can be challenging to gain as is; however, having a specialized area has a lot more benefits than you think!
Why do I need one as a social media manager?
Consider choosing your niche like choosing your major in college - you can't major in everything because it's impossible to become an expert in every single thing. Niches are the same way. You want something specific and of interest to you because you can learn more about that topic, rather than wasting your time on everything. 42% of start-ups and new businesses fail due to not capitalizing on their niche, and we certainly do not want you to be included in that stat! You will help more people by having a niche - why? Because when you niche down and specialize in an area of the market as a social media manager, you stand apart from everyone else resulting in more ideal clients walking through you door.
How do you choose a niche?
First, think of your interests and passions. The best job is one that takes your passion and turns it into profit, and honestly, it's never been easier when it comes to social media management. Take a look at the accounts you follow on your personal socials and you will probably find some trends and areas of interest! From there, you can research the needs, characteristics, and profits that surround the interest area to see if it's something that you can work with!
How specific should my niche be?
Finding the right balance between specific and too specific is difficult! To be realistic, your niche might look a little different for when you first start because to get the ball rolling, you might have to be a bit lenient. Once the clients are rolling in and you've been in business for awhile, you can take full control of your niche and make sure you have the right clients that fit within it! Don't feel like your niche is set in stone either. If you feel that it's too specific or not specific enough after you've worked with it for awhile, alter it a bit to fit the market.
Choosing the right niche will be what severely sets your company apart from others. Apart from the success you'll have, think about how great it will be to choose a niche that fits you and working with brands and businesses that you are really passionate about!
If you’re looking for support for your social media management business - you always have it with us. Join our free Facebook group, by searching “Social Savvy Collective” on Facebook or head to the show notes of this episode.
Until next week!
Links From This Episode
Connect with Jessica on Instagram: https://www.instagram.com/socialsavvyhq
Join the free Social Savvy Collective Community for social media managers: https://www.facebook.com/groups/socialsavvycollective
Ready to create your own social media business that fuels your dream life? Whether that is financial freedom, time freedom, or anything else — this guide is your ultimate roadmap to building a sustainable social media management business: https://programs.socialsavvyhq.co/smm-roadmap
For show notes and more, go to https://www.socialsavvyhq.co/podcast
If you found value, I would appreciate it if you could leave a rating and review to support the show!
