Posted April 17, 2019 - Emma Mills in Uncategorized
Is carving out a niche for your business the secret to long-term success and scalability?
I think so, which is why we used the principle laid out in Gary Keller and Jay Papasan’s book, “The One Thing” to niche down and focus on targeting one specific type of client.
The results of our marketing experiment were incredible. I realised that it’s true what they say about business. You can’t be all things to all people. Instead, you’ve got to go an inch wide and a mile deep. In other words, you’ve got to find your niche.
While this may seem obvious, many entrepreneurs opt to try and attract a much broader audience. They fear that if they dare to niche down, they’ll lose out on a pool of potential customers. But this couldn’t be further from the truth.
Keep reading to discover why the secret to building a profitable business lies with niching down and focusing on your ‘one thing’.
Would you rather be mediocre at many things, but remembered for none? Or, would you rather be recognised for ONE thing and get extraordinary results every time?
Multitasking is great for a lot of things. Being able to answer a call while planning what you’ll have for lunch is an enviable skill for sure. But, is there a place for multitasking in business?
When you try to be good at all things, you end up being a master of none. Take Mi-PA as an example. We’re a virtual assistant company and our clients are from lots of different industries. However, after focusing our marketing efforts on a specific client profile (electricians), the return on investment was huge.
Now, we’ve learned the ins and outs of the industry. We know how to help our electrician clients better than ever. And, as a result of concentrating on a niche, our business and client base has grown massively over the last 12 months.
If you’re a jack of all trades, it’s very difficult to identify your ‘ideal client type.’ What ends up happening is that you design marketing campaigns that lack clear focus and direction.
If you don’t know who your ideal client is, how can you convince anyone that you have the knowledge, experience and expertise to help them solve their problem?
When you niche down and know exactly who you’re targeting, marketing your business becomes much easier. You can begin launching social media campaigns that specifically target your ideal customers, helping you to grow and expand your business and clientele.
Niching helps you to become more well known for a specific thing. When you can do one thing right and provide extraordinary results when you do that one thing, it won’t be long before you become recognised as an expert in your niche.
Then you can start to create and publish industry-focused content to help build your reputation as an industry leader. As you learn more about your industry and help more people with your expertise, prospects will begin to trust you more because you’ve established yourself as a credible expert in your niche.
Offering a niche service and providing amazing results for your clients helps to build a loyal customer base. You’ll notice that customers will trust your brand more because they feel like you understand them and their needs. Therefore, they’re more likely to return to your business in the future because they’d rather do business with a brand that focuses solely on their problem.
However, repeat custom is just one reason to niche down. When you carve out your niche and start to develop a loyal client base, those same clients will do a lot of the marketing for you. Through positive reviews and recommendations, you’ll have an easier time finding customers who love and need your service or product.
When you focus on working with just one (or a select few) sectors, your online and offline visibility improves. Discovering your niche and focusing all your energy in becoming a master of that niche helps you to stand out.
You’ll have fewer competitors and although your target audience will be a lot smaller, you’ll only target the right people. You won’t waste your marketing budget targeting people just for the sake of it. Instead, you’re targeting a specific group of potential clients that are more likely to be interested in what you’re selling.
Plus, when your target client searches for a solution to their unique problem, your niche business is more likely to appear on the first page of Google’s search results because you’re targeting the same keywords that they are searching for.
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