What are some effective ways to measure the success of your niche and target market selection?

2 Track your results

Once you have defined your goals, you need to track your results regularly and consistently. You can use various tools and methods to measure your performance, such as analytics, surveys, feedback forms, social media, email marketing, or CRM software. The key is to collect and analyze data that is relevant to your goals and your niche and target market. For example, you may want to track how many leads you generate from your website, how many conversions you make from your email list, how many referrals you get from your previous clients, or how many followers you have on your social media platforms.

3 Compare your results

After you have tracked your results for a certain period of time, you need to compare them with your goals and with your competitors. How are you doing compared to what you expected and what you wanted? How are you doing compared to other motivational speakers in your niche and target market? Are you meeting, exceeding, or falling short of your benchmarks? What are the strengths and weaknesses of your speaking business? What are the opportunities and threats in your market? You can use tools like SWOT analysis, gap analysis, or competitive analysis to help you answer these questions.

4 Evaluate your results

Based on your comparison, you need to evaluate your results and determine if your niche and target market selection is working for you or not. Are you satisfied with your performance and your progress? Are you reaching and inspiring the people you want to serve? Are you making a difference and a profit? Are you enjoying and growing in your speaking business? If you answer yes to these questions, then you have chosen a successful niche and target market. If you answer no to any of these questions, then you may need to rethink your niche and target market selection.

5 Adjust your strategy

If you are not happy with your results, or if you want to improve them further, you need to adjust your strategy accordingly. You may need to refine your niche and target market, or change them completely. You may need to update your message, your offer, your marketing, or your delivery. You may need to learn new skills, hire new help, or find new partners. Whatever you do, make sure you base your decisions on data, not on assumptions or emotions. And make sure you test your changes and measure their impact before you implement them fully.

6 Repeat the process

Finally, you need to repeat the process of measuring your success regularly and consistently. Your niche and target market are not static, they are dynamic and evolving. You need to keep up with their needs, wants, challenges, and preferences. You need to keep testing, learning, and improving your speaking business. You need to keep setting new goals, tracking new results, comparing new data, evaluating new outcomes, and adjusting new strategies. By doing this, you will ensure that you always choose the best niche and target market for your motivational speaking business.

7 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?