Broadening Your Business's Horizons: When to Expand Your Niche

Welcome back to our blog! Last week, you read up on the power of selecting a niche for your business and essentially how coBranding became coBranding. However, you may notice that we have no longer solely incorporated health and wellness into our branding, or our website copy. This brings us to announce that coBranding is expanding to help independent professionals and small business owners of multiple industries! We know this makes the last article seem odd when we’ve moved to expand, so get ready to hear about how we determined that expansion was the key to our growth.

Being exclusively a health and wellness branding company has been incredibly rewarding. We love our clients and the work we’ve done for them. We also started noticing that because of how confined we were, we were turning down opportunities to work with other significantly promising leads, and therefore restricting ourselves from that growth we anticipated and deserved. We sat down and determined how we would go about a change.

The first step in the change-making process was figuring out which industries were at least partially adjacent to health and wellness industries, and taking our first steps outside our niche market from there. We brainstormed ideas on a team video conference, which allowed us to focus our client outreach efforts on a broader, yet not too big to manage, market. In this way, we were able to put some boundaries around the markets we felt comfortable expanding into.

When we made the decision to move forward with broadening our outreach, we worked on our own branding to reflect that we no longer worked for one industry. This boiled down to determining what kind of phrasing we wanted to include in order to still attract independent professionals and small business owners.

For coBranding Studio, the results were immediate. Within a few days, we were booking strategy calls with professionals from outside our original niche markets, and a number of those strategy calls resulted in clients signing on with us! Our history with working with health and wellness professionals ultimately gave us the knowledge and experience to broaden our company’s horizons, and for us, that has been priceless.

We know our process in and out. After working so long with health and wellness professionals, we knew that this could be applied to almost any independent professional or small business and we were ready to take the plunge!

How can this work for your business? It really depends. Sometimes staying within a specific niche is better for you whether you find that your growth is not at a level you would like to see. Maybe you find you’re generally attracting people from outside your niche even upon branding appropriately. Niching down is great to get started, expanding is great to grow. That’s why coBranding Studio is now here for most independent, passionate professionals, and small business owners.

You can schedule a Strategy Call today to learn more, and start your branding journey with coBranding!