Choosing a Niche for Social Media Management Business!
My brain every time I see the word: N-IT-CH? N-EE-SH? NI-CH? Hopefully, I'm not the only one! But, despite the difficult pronunciation, niches are awesome to have!
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?
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 fail due to not capitalizing on their niche, and we certainly do not want you to be included in that stat!
How to you choose one?
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 it 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. Although, once the clients are rolling in and you've been in biz for awhile, you can take full control of your niche and make sure you have that 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.
According to Forbes.com, "By analyzing your personal skill set and confirming your expertise you gain the knowledge to focus on a niche that could spark a seriously successful business venture." Choosing the right niche can be what severely sets your company apart from others. Apart of the successful you'll have, think about how great it will be to choose a niche that fits you and working with something you are really passionate about!
Need more help on starting your SMM biz? You have to check out our Building a Social Savvy Brand course!
