Here's a few tips to help you narrow down your niche and become THE go to company for your specific niche.
Take your list of products and services right now and see which of them are your hot products. What is it that you sell a ton of? Who is it that buys those products the most? Maybe you have one product that you sell the most of that a specific type of person buys more than anyone else. Maybe you have an insurance product that you sell a lot of to busy professional women more than anyone else. That's a perfect niche. Why is it that those women buy your product the most? Figure that out and you have a perfect niche to focus on.
Get more research on why it is that those people buy that specific product more than anything else. This is a great way to get more information on your target demographic and also use that opportunity to ask them for testimonials. You can also ask for references at that time. You can get more information about why they buy, get testimonials for your marketing AND ask for referrals all at the same it.
Once you've found your target sub niche that you already are working well with, how do you find more of those customers? Where do they hang out? What magazines or newspapers do they read? What websites do they go to?
These are the places you should be advertising. If you find that the majority of them read the same magazine or newspapers, you could write an article and submit it to those publications. Many times, publications are looking for fresh content all the time. It's a great way to get some free publicity. You can also talk to them about advertising costs. Since you know that your target market reads these media sources, it's a perfect place for you to spend your advertising budget and you'll get much higher returns.
You asked for testimonials when you first surveyed your existing clients about why they buy from you. Now use those testimonials to your advantage. People are much more trusting when they hear testimonials from other people just like them. If your product solves a problem for our example of busy professional women, then other “Busy Professional Women” will relate when they hear great things about your products or services from other “Busy Professional Women”
Finding a sub niche of prospects that you specialize in working with doesn't mean that you stop working for other customers or clients (unless you want to). It just means that you are specializing in that area and makes it much easier for you to target your perfect target market and save a small fortune on marketing and advertising costs.
You want to position yourself as the expert to your target market. Once you've found your first sub-niche, you can perfect your marketing message and advertising to cater specifically to that target market. The results of doing this can easily increase your bottom line, make it easier for people to refer you and get you more clients that fit this group. All positioning you as the expert and increasing your business's image and awareness in your marketplace.
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