Just about every business course – webinar – podcast I attend, I hear the same thing. Choose a niche. Don’t try to be everything to all people. I’m sure you would have done similar exercises to determine your niche by figuring out where they hang out and then market to them exclusively.
If by chance you haven’t done this…then get on to it immediately because if you don’t know exactly who you are selling to, you have nothing to target and likely to miss the mark completely.
Do you feel nervous when you have to make a phone call or meet a prospective client face-2-face?
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The best niche is an inch wide and a mile deep. Trust me, if you niche your market there will be enough customers. Of course you aren’t going to turn away clients if they aren’t in your niche though are you?
“So exactly who are your customers? Who is most likely going to buy your product or service?”
Assumptions can lead to wrong decisions, wrong pricing, wrong marketing strategy – and ultimately, business failure.
The most successful small businesses understand that only a limited number of people will buy their product or service. The task then becomes determining, as closely as possible, exactly who those people are, and ‘targeting’ the business’s marketing efforts and dollars toward them.
Let me reiterate, you will build a better, stronger business, by identifying and serving a particular customer group – your target market.
One of the first things you need to do is to refine your product or service so that you are not trying to be ‘all things to all people.’ Become a specialist!
For example, in my business, sales and presenting coaching, I made some specific decisions early in my marketing
planning and follow through with those actions. Continually monitoring my niche market and change tack as
need be. Read More in my Book “Good Girls Do Sell“
It is crucial you know:
- What keeps your clients up at night?
- What are the problems you can resolve?
- Why would a prospect buy your product/service?
So exactly who are your customers? Who currently buys from you? Why?
Assumptions can lead to incorrect decisions, inaccurate pricing, inappropriate marketing strategy – and ultimately, business failure. The most successful small businesses understand that only a limited number of people will buy their product or service.
- Your problems aren’t your prospects
- Don’t assume you know what your clients want
- Develop a marketing message that resonates with your niche
“I still work hard to know my business. I’m continuously looking for ways to improve all my companies, and I’m always selling. Always!”… Mark Cuban
Best wishes till next time.