Coaches who niche down in their business have a 6x higher income than those who don’t – Industry Reports

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For an online coach, a niche is that specialized domain expertise that you use to differentiate yourself, your courses, and coaching programs from other coaches in the domain. It helps you move away from a broader market that is extremely competitive and define a smaller but more specific target audience that you want to work with. Plus you also get to identify that target audience’s pain problems and create programs and offerings that meet their specific needs. 

A niche could be anything from life coaching, career coaching, health and wellness coaching, relationship coaching, or any other area where people seek guidance and advice. There are literally thousands of coaching niches where you can build a profitable business with.

But if you’re trying to build a successful online course, it is important to get ahead of the existing noise and find a niche that you can claim as a brand-new area of expertise.

Your Unique Niche = Your Domain Expertise + Target Audience + Large Market

Not sure how to do this or which potential niche would be the most profitable? You’re not alone!

Industry reports suggest that about 70% of coaching businesses fail due to insufficient market research and an inability to identify an ideal target market. 

Luckily, there is an easier way to find success in your online course. So, today we will help you simplify the entire process of how to find your niche, one that can help you build a successful coaching business. 

In just 30 mins, you will be able to use the simple steps to find your best niche using the secrets that successful online coaching experts have used to find profitable niches for their businesses. 

So buckle up, it’s time to find that diamond in the rough!

But first, why do you need to find your niche?

You have a unique set of skills, knowledge, and experience in a specific domain that you want to share with the world. But so do thousands of others in the same or similar domain.

Here are 5 key reasons why you need to find your niche!

1. Stand Out from Competition: 

In the competitive space of online coaching, thousands of coaches already exist in every domain. 

Choosing a specific niche allows you to distinguish yourself by offering tailored courses, coaching programs, and services that cater to the unique needs and preferences of that market.

For example, if you’re creating a course about jewelry design, you could target a specific niche such as designing vintage silver jewelry at home. Additionally, by choosing a specific deeper niche, you can create more targeted marketing campaigns and better understand how to position your messaging for that particular market.

2. Well Defined Target Audience

Have you ever wondered why some coaches seem to have a cult-like following? Usually, It’s because they’ve identified and reached a well-defined target audience. 

When you have a well-defined target audience, you get a clear idea of who the course is for, what pain problems they are going through, and what content is needed to help them solve that problem. 

This ensures you don’t stray from the topic, but rather focus on the pains, needs, and wants of your target audience, as well as the best strategies to reach them. This helps you improve your messaging, content, and marketing efforts, grow your community faster, and build a loyal fan base of customers who would want to keep coming back to you for more content.

3. Better Utilization Of The Few Resources Available

If you create a product, and no one buys it, is that even worth it? As a course creator, you only have so much time and resources available to grow and expand your business. 

Every course needs a specific amount of time, and energy to sell faster. One can quickly lose direction leading and miss clear opportunities to launch their programs or sell. 

When you find a niche that works best for you, it helps you to focus and maximize the use of the limited resources available to make sure that the course stands out and succeeds in a crowded saturated market. 

4. The Right Foundation For Your Business

If you’re just starting out and you have a business idea around which you want to launch your courses, finding a niche becomes the natural first step.

Once you have that perfect niche in place, every other step that you take to grow your business gets aligned with that decision. Your courses, the website content & design, your marketing strategy, the funnels you use to get more leads and sales, your ads, and the social media content, all are interconnected and would need to speak the same language.

This helps build your personal brand, create the right content, and your target audience will connect with you better.

5. Larger Profits 

Besides all the points listed above, If you don’t use a niche, your marketing strategy and ad efforts will likely be scattered and not as effective. You run the risk of speaking to different audiences, who have different needs. This would force you to spend more on social media advertising, and more time and energy on growing your community, leading to a lower return on investment and difficulty in targeting specific customers.

When you choose a specific but profitable niche, it becomes a lot easier to showcase the unique selling point of your courses that clearly differentiates your program from the competitors.

With this clear differentiation, your online business will start pulling in the right audience from your market and create a bigger brand loyalty in your select group of customers.

So even if your niche has a small audience size, you are still able to generate more profits by charging a premium for offering your content to solve that unmet need. 

Now that you understand why finding your niche is so important, the next step in the process is understanding the process behind choosing a good niche from all the different potential niches that you want to work in. 

Remember, there are thousands of niches, and no one size fits all. But there are ways to find your niche, one that works best for you. 

Best Kept Secrets Of Coaching Experts – 3 simple steps you can take to find your niche for your online courses.

Now that you know how critical your niche is for your new business, the next step is to find your niche using these 3 simple steps.

Step 1. Identify What You Are Great At & What You Are Passionate About

Now in most likelihood, you may have already got some sense of what your niche could be, something you’re great at or excel in. But if you still need help, here’s what you can do for finding a niche that works for you.

Think about all the things that you know. Make a list of all the things that you are great at. Consider what you have learned in school or college, what expertise do you have right now, and your hobbies or skills that you love practicing regularly. In those things, ask yourself:

Answering these questions should help you find a niche that you could work with. But this is just the first step. In order to stand out from the competition, you need to go deeper and look for a niche that no one else is considering yet.

Step 2: Research Your Competition

Now that you have identified what you are passionate about and great at, the next step is to do competitor research. Competitor research helps you understand where the market stands in terms of your niche topic. It also allows you to identify potential gaps in services or offerings that others may not be focusing on.

You can then use this knowledge to develop a unique course offering of your own and position yourself in the market accordingly. By conducting deep research on the competition, you also get to learn from the successes and failures of others so that you can avoid making the same mistakes.

Here are a few questions that you need to ask yourself for the competitor analysis:

By answering the questions listed above, you will gain insight into who your main competitors are, what their strengths and weaknesses are, and how you can differentiate your courses from theirs.

Additionally, by comparing the target audience, pricing, and marketing strategies, you can make a more informed decision on which audience to go after, what are their pain points and adjust your own pricing and marketing strategies as per that audience’s needs. Furthermore, by analyzing customer feedback and reviews, you can improve your courses in the areas where your competition is failing and create a unique and valuable course offering by leveraging your own unique skills and experience.

Step 3: Finding Your Niche

As you may know, there are thousands of niches already. But for most course creators, these niches can be clubbed into 5 primary Industries:

After identifying the Industry, basis your expertise, experience, and the topics you are most passionate about, then you identify the Market – the sub-category where you consider a specific audience and the type of course that would be of interest to them.

For example, in the Health & Wellness industry, your target audience could be people who want to become fitter. So, then your market would be the Fitness Market.

Next, it’s time to identify your niche.

After identifying the industry and the market you’re catering to, here you look at how you are going to help your audience achieve the outcomes they are looking for.

In the example stated above, how will you help your customers become fitter? Is it via gym programs, exercises, aerobics, yoga, or with specific diet plans that your customers need to follow?

So you could say that you want to offer your own custom-designed holistic weight loss program. That in itself becomes your unique selling point because very few coaches may be doing something like this. Then your Niche could be Holistic Weight Loss Coaching.

Similarly, basis your expertise and what you are most passionate about, you could use this framework to find your Niche.

BONUS STEP: The Best Kept Expert Secret: Go Deeper To Choose A Profitable Niche

If you want to build a personal brand and become the go-to coach in a domain, you need to drill down to a more specific niche that you can bring to life with an online course. Focus on one specific topic and build from there. 

Doing this will help you attract the right type of clients who are looking for a coach with very specific expertise.

To find a more focused niche, the final step here is to identify who your audience is – meaning whom do you want to work with? This usually implies understanding the audience’s demographics. Such as:

Then based on your understanding of these demographics, you could decide on the specific audience that you want to work with.

Using the weight loss example stated above, instead of working with everyone who wants to become fitter, you could instead choose to offer holistic weight loss coaching programs for working mothers specifically.

This specific demographic identification would be realized from your past experiences, your personal story of challenges you have gone through in life, the type of people you have already helped, and finally, the audience that you want to work with. It helps

By using these 3 simple steps & the bonus step, you move away from mass market-based messaging and focus on building a loyal customer base of a specific audience that has a very specific problem that you help with.

Using these steps and finding the right niche that is best for you and for your future customers becomes easy.

Read Related Blog: 

13 Steps On How To Sell Online Courses – The Complete Guide

4 Examples Of Coaching Businesses Who Found Their Niche Across Domains

Here are a few examples of coaching businesses that found their niche and became insanely successful with it. You may be familiar with some of them already.

1. Kripa Dharmaraj (KD) – Weight Loss Coach

For Knorish Course Creator, Kripa Dharmaraj, founder of kdvskg.com, finding a niche meant figuring out all whom did she want to work and what kind of programs she wanted to create. She followed the same process, looked back at her journey of transformation and realized that she wanted to offer weight loss coaching for mothers – new mothers, working mothers, and stay-at-home moms. Today, she has built a personal brand around her mission of helping 1 Million moms around the world to get fitter without diets or any harsh workouts!

Read Her Full Case Study Here

2. Learning Coach Vinod Kumar – Space Science Coach

K12 learning doesn’t get any more niche than learnspacescience.com. Typically a topic reserved for more advanced programs, learning coach Vinod Kumar found a huge demand for summer programs for young students to learn about space. What started as a hobby to keep his children busy during the summer vacation, today is a 7 figure coaching business with more than 30,000 students part of the community.

Read Vinod’s Full Case Study Here

Ready To Find Your Brand New Niche?

Finding your niche for your coaching business can be overwhelming. However, by following the process of reflecting on your own story and understanding the demographics of your desired audience, it doesn’t have to be so complicated. These four examples show how other entrepreneurs have been able to find their niche and become highly successful with it. So why wait? Start the process today of finding your niche and launching your online course with Knorish!