To niche or not to niche?
That is the question…but in all seriousness it’s something we asked ourselves a year into running our VA business (after a whole year!!).
Before we go any further, what is a niche market?
According to Shopify:
“A niche market is a segment of a larger market that can be defined by its own unique needs, preferences, or identity that makes it different from the market at large.”
Now is it necessary to pick your niche when starting out as a virtual assistant - no (in our opinion) but should you niche down at some point in your business - yes!! (from our personal experience).
We know that there are varying opinions on this one and to be fair both hold valid reasons however from our personal experience niching down has allowed us to create focus within our business and we have definitely seen the benefits.
When we started our virtual assistance business, almost two and half years ago we just wanted to take on clients, any clients, it didn’t matter who they were or what they did!
We had 10+ years experience owning and running our own printing business which allowed us to grow skills in various aspects of running a business: sales, customer service, marketing, bookkeeping, human resources, production and as a result we were happy to support any business owner with their business.
Over time as we slowly picked up clients, some who have been with us since we started this business and others who we’ve had the privilege of supporting for a season, we gained new skills, knowledge and understanding for entrepreneurs in the health and wellness space. We also grew to love working within this space and with these entrepreneurs.
Do we only support entrepreneurs in the health and wellness space? - no! Because we also believe that a “good fit” can come from how well individuals work together too (and that’s really important!!), however having said that, we’ve proven to ourselves over and over again that we find longevity with clients that fall within our niche market. Things just always feel right!
This may be because of the focus we have created within our virtual assistance business.
You’re probably thinking how did finding our niche create more focus in our business and how has that ultimately benefited us?
It allowed us to become clear on who our ideal customer is
We mean like super clear! How old they are, where they live, what they enjoy doing, what frustrates them, where they need help, what social media platforms they are on etc.
We were able to become laser focused on the type of client we wanted to attract
Understanding who your ideal customer is provides clarity on what your marketing message should be and ultimately assists you with attracting the right type of client.
We focused on becoming specialists in the field
We knew what education to focus on in order to deepen our knowledge in the field. As a result, word of mouth referrals grew as our current clients referred us to their friends or recommended us to others looking for the same kind of support.
We were able to increase our rates
As a result of niching we’ve been able to increase our rates. Let's be honest - earning more money is a key goal for many of us. Not everyone can afford to pay more however, for the right customer receiving a specialist service it will be worth the price tag.
So in conclusion, to niche or not to niche? We say niche!
The benefits are definitely there! But if you aren’t sure yet don’t let that stop you from starting or running your own virtual assistance business.
Often, your niche develops over time as you figure out what projects you enjoy the most and where you are getting the best results.
This may also change over time.