How do you stay updated on niche market trends as a motivational speaker?

My view on niche markets goes contrary to popular belief. Rather than seeking a niche market from the get go I rather recommend that you speak on as many customer pain point topics as possible, i.e. sales, customer service, leadership etc… Basically anything that they are willing to pay for! As you progress & become more advanced you will notice that there are certain topics that you love more than others & that you are getting more jobs for. This will start you off on your journey to finding your niche market as you start to develop the skills & tools to solve problems in your own unique way. What is the point of you having a niche market that no one is willing to pay for? Start wide/broad & then narrow down/specialise as you go along.

Following in the footsteps of those who have gone before you is of great benefit. The challenge however lies in trying to get direct access to these individuals. A bird in hand is worth 3 in the bush! So in addition to following your hero’s from afar, try and find yourself mentors/coaches who are not only close but also readily accessible to you. The opportunity to bounce ideas off of them will give you more clarity, direction and will challenge your preconceived ideas about how things work. Becoming an avid reader & consumer of widely varying information and topics will also increase your creativity & your ability to connect the unseen dots. Which will help you to create and develop your own unique perspective of things.

Staying updated on market trends includes following industry leaders and relevant influencers who set the tone and direction. By engaging with their content across various platforms, you can gain valuable insights and inspiration for your motivational speaking endeavors.

Not only will joining & interacting with online communities and networks give you the opportunity to directly communicate with fellow like minded individuals, it will also expose you to your own potential clients as a subject matter expert. Never underestimate who you think is watching you! The challenge with niche markets is that they are very challenging when it comes to finding paying customers. Online networks narrow potential clients for you & put you in their view. These platforms will also give you the opportunity to share ideas with the cream of the crop which will do 2 things for you: 1. They will sharpen your knowledge & views on the market. 2. They will give you the clarity to start forming your own unique point of view.

Not all events & conferences are equal. Nor are they a guarantee that you will actually get to speak to your hero’s! Many conferences simply repeat what you already know or have seen online. So be intentional! Make sure that you are 100% certain about how attending a specific conference is actually going to help you grow. Otherwise you might be better off investing the money in books or online programs to upgrade yourself. It would be far more beneficial for you to be the only specialist attending an event full of your potential/target customers (Trying to get business) than for you to attend a conference where you are surrounded by a group of your fellow “nerds” (And socializing) i.e. people who are trying to convert the already converted.

The number one way of monitoring the viability of your niche market is with your bank account. It doesn’t matter how many likes, reviews or thumbs up you get if they don’t somehow equate to money in your pocket. Unless of course if you are doing it purely for charity. Businesses ultimately want to do 2 things: 1. Reduce their operating costs. 2. Increase their sales. They are not going to pay for anything that does contribute to these 2 things. So your niche market must somehow & clearly align with what the client wants, otherwise you are just going to waste your time. The moment you get paid to speak on your niche market, you should know that you are on to something. But not a moment before. Till then keep modifying & updating things.