Friday, May 1, 2020

Why and How to Focus on a Single Niche

Why and How to Focus on a Single Niche:

How cool would it be if I just gave you a bunch of templates and called it a day. Yeah, it be pretty cool, but here’s what would happen:

  1. It would work for the first 10-15 people who acquired this book.
  2. Then it would be burned out.
  3. Then for 99.99% of people who read this book, the templates would have no value.

Chances are, you’re part of the 99.99% and so the templates you would now be seeing would have already been burnt out.

So while I can’t give everyone templates, what I can do is show you the thought process for “cracking the code” in your niche.

We’ll need to figure out the following things in this order:

  1. Pick Your Target Audience
  2. Location
  3. Message
  4. Offer

Pick Your Target Audience

When my father and I would go fishing, the first thing we would have to de-cide is what we were trying to catch. In the waters of Buzzards Bay and Gloucester there were around 9 different fish that most people would want to fish for.

And each fish required a specific strategy.

Flounders had their own preferred locations, baits, and equipment. As did Cod. As did Bluefish. Stripers had their own set of gear too. You get the idea.

When it comes to marketing, the different niches have their preferred baits, locations, and will require the right niche to land the client.

If you mismatch any part of the code when it comes to acquiring your clients, you will not see any results. And for the code to even make sense we need to apply it to a single species of fish or niche.

So right now, you have to “de-cide” who you want to work with. If you don’t have a niche yet, here are a few pointers to help you out:

  1. Work with people who you already have experience working with. This lets you say “check out the results I got for X, I could do something similar or better for you”.
  2. Work in niches that have high client values. For example, a real estate client is worth a few thousand dollars whereas a restaurant client is usually less than a few hundred.
  3. Work in niches that have high turn around times. Commercial contractors can take years to get paid on their deals whereas a mortgage broker can get paid within 45-60 days of acquiring the client.
  4. Target niches that aren’t completely spammed out. Everyone out there is spamming dentists and plumbers. Not to say that they are bad niches, but there are just easier and equally profitable fish to catch.

Assignment: Pick a niche to go fishing for.

Figuring Out The Location

Now that you know what type of fish you’re fishing for, now it’s time to figure out where to go to catch them. The best location for you is the location where it’s the easiest for you to get in touch with decision makers

Let that sink in. Because it needs to.

Chances are that in the past you tried sales/marketing. Instead of talking with decision makers, you probably spent all of your time cold calling receptionists and emailing spam traps.

If that’s you, then you weren’t even in the game. You were going fishing out in a pavement parking lot where there are no fish to be caught.

So, let’s think about it, where can you easily get in touch with decision makers?

For example, if you need to reach the owner of plumbing companies because they’re your ideal clients, then is it better to:

  1. Email their receptionist’s generic email address info@plumbingcompany.com
  2. Cold call the receptionist (assuming you’re bad at cold calls).
  3. Connect with them directly via LinkedIn

Cold calling and emailing definitely have their advantages and I’m not discounting them. 

However, I use this example because I assume you’re not a cold calling pro nor an emailing pro – otherwise you probably wouldn’t be reading this.

The most common “locations” are:

  • Facebook
  • LinkedIn
  • Instagram
  • Email
  • Text
  • Voicemail
  • Cold Calling
  • Cold Visits
  • Direct Mail
  • Paid Ads
  • SEO

Assignment: Identify the easiest way to get in touch with decision makers for your niche.



from https://realmarketingdynamics.com/how-to-find-a-niche/

from
https://tr4vels.tumblr.com/post/616941097369878528

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