If you had a heart problem, who would you want as your doctor –the world’s leading cardiac specialist or an experienced GP?
I imagine that eventhough it will cost you more money, you would probably want the heart specialist. After all, their expert knowledge could mean the difference between life and death.
Of course, choosing the wrong carpet cleaner is unlikely to be fatal for a client, but there is still a valuable lesson here for your business.
If you want to make more money, you need to specialise
You need to become an expert in a targeted niche.
- First, specialists are considered experts. They’re valued and almost always get paid more than generalists. A brain surgeon makes more money than a General Practitioner. A nuclear waste disposal expert earns more than a garbage man.
- Second, people who work in the same industry or live in the same suburb know each other. They will refer others who want to use your services too.
- Third, it makes your marketing more targeted, which generally increases it’s effectiveness.
In today’s task, you will discover how to choose a niche. But first, let’s quickly run through what to do when you find one.
How to market to a niche
Imagine you decide to target lawyers. If you already have a happy lawyer as a client, ask his permission to write a letter from him to other lawyers in the area. This letter should use the lawyer’s letterhead and describe how wonderful that person thinks you are.
You must get the person’s approval before you send it. In the envelope, you should also enclose a sales letter offering a free audit. There is a template letter for a free audit offer included in this program.
By getting the lawyer to ‘write’ an endorsement for you, you dramatically increase the chances of getting your letter opened and read.
All lawyers read letters from other lawyers.
But what if you don’t have any existing clients in the niche?
If you don’t have any clients in your niche, you need to find some. One effective way to do this is by using the 3-step sequence I told you about in a previous lesson.
You will also discover more methods for niche marketing as we move through the program. For now though, let’s focus on finding the right niche…
TODAY’S TASK: Finding Your Niche
- Study your competition.The first step to finding your unique niche is to look at your competition. Make a list of whothey offer their services too. Avoid these niches for now. There is no point choosing a niche where you have significant competition.
- Look at your existing clients. Think about who your best clients are. What do they have in common? Do they all live in the same area? Are they all golf club members? Seek similarities. Could this be your niche?
- Consider who you would like to work with.The best clients are people who need your services regularly and can afford to pay.
- Think about a reason why they should choose you. People will often ask what makes you a specialist. You need to have a good answer for this. For example, you could become a specialist carpet cleaner for:
- Doctor’s offices because you use medical-grade anti-bacterial chemicals.
- Wealthy neighborhoods because you use state-of-the-art equipment that won’t fade expensive rugs.
- Lawyer’s office because you provide services outside normal work hours to