LET'S TALK

How To Conduct A Market Scan And Find Your Niche (Ep50)

Does the crowded consulting and coaching marketplace intimidate you and hold you back from what you could be doing to launch or grow your business?

I've got GREAT news! You can stop worrying about the competition because today, I will teach you how to conduct a market scan and find your niche.

The best strategy for dealing with competition is to make the competition irrelevant.

For the last couple of weeks, I've been talking about networking, which I thought was a break from my Brand You series, but the reality is – what makes you a great networker, market scanner, and brand builder are the same skills – it's all about listening and tapping into needs.

In today's episode, I'll walk you through the seven steps of your market scan and how to mine for the intel around what makes you unique and how you can stand out – even if you're brand new and just starting. 

Before we start – let's define a market scan. A market scan is when you talk to former clients and potential clients so you can better understand them better. It's when you try to see the world from their perspective, how they define and describe their problems, the options they consider, why those options fall short, and identify the unmet needs in the market.

Armed with this intel, you'll be able to:

  • Figure out the best way to position your consulting and coaching.
  • Identify a competitive angle.
  • Mine messages that make clients feel like you're reading their minds
  • Create products and services your clients will want to buy.

Now that we're clear on what is a market scan and why it's valuable listen to the episode to get into the seven steps!

Where to dive in:

[1:20] What is a market scan?

[7:32] Step one: Hear how to get clear on what you want to know and discover.

[10:07] Step two: Hear how to collect and analyze your existing data.

[10:50] Step three: Hear how to decide what type of marketing scan assessment you want to do. Hear how.

[13:15] Step four: Hear how to decide who you want to include in your assessment.

[14:34] Step five: Learn how to design your questions and probes.

[17:32] Step six: How to survey your audience and follow up - and why!

[19:05] Step seven: Hear what to do with your findings.

[22:25] Hear the quick recap of all seven steps.

[24:00] What can you do right now to start a market scan. 

Next steps:

  1. Start small by simply getting curious, especially when people call you for help. If you're going to probe on anything, probe to understand pain, goals, and human needs. 

  2.  Then talk to former clients.

  3.  If you're unsure which way you want to take your business and it's holding you back from getting your website done or getting out there and marketing yourself, this is your chance to get powerful group help! Head to www.betsyjordyn.com/academy for more information, or drop me an email at [email protected] 

About me: Betsy Jordyn is a Brand Positioning Strategist that helps consulting and coaching business owners clarify their brand positioning and messaging, create a website presence that positions them as sought-after experts, land clients with ease and integrity, and take their place as thought leaders and influencers in their niche. Her mission is to help consultants and coaches monetize their best-at strengths and authentic passions to make a bigger difference in the world. Check out her brand strategy, messaging, and design services at https://www.betsyjordyn.com

Links:

Download my one of my free resources to help you accelerate your success: https://www.betsyjordyn.com/downloads 

Learn more about my brand messaging and positioning services: https://www.betsyjordyn.com/services 

Schedule a consult call to talk about what you need to do to nail your messaging and rock your copy so you can stand out in the market and attract clients: https://betsyjordyn.as.me/schedule 

Related Blog, Video or Podcast Episode:

How to Build a Networking Strategy, On-Air Coaching with Vern Schellenger (Ep49)

How to Make Your Contacts Count with Vern Schellenger (Ep48)

Four Parts of a Well Positioned Consulting or Coaching Brand (Ep47)

What Is A Brand And Why Do You Need One? (Ep46)

Architect Your Business Joy with Jodee Peevor (Ep45)