In the first article on The Most Profitable Niches we talked about transaction size, profit per transaction and looking at niches most marketers ignore.
Now let’s talk about why you might consider targeting a specific niche and how you might go about it.
First consider the power of targeting a niche.
Being seen as the marketing expert for boat sales yards, or commercial painters or commercial real estate agents (or any niche) gets the immediate attention of your prospects.
It’s simple human nature…
If you’re talking the owner of a used car yard and you tell him you specialize in helping used car yards market themselves more effectively so they can sell more cars at higher prices you’ve immediately positioned yourself as someone who can specifically help THEM and THEIR business.
The statement “that marketing stuff doesn’t work in my industry” is meaningless because obviously it does…you specialize in it.
And when you have a service niched to a specific industry you can often charge more for the same reason…the service is already perceived as being customized to THEIR business and their industry.
But here’s the best part…
Once you’ve created a strategy that works in a particular niche you can sell it to other businesses in the same niche (but other parts of the country or the world).
You can do most of the work once and license it over and over to other businesses with some tweaks and customization.
That means more money for you and because a lot of the work becomes highly repetitive it becomes much easier to outsource.
And it’s also good news for your clients in that niche because you’ll get very savvy at marketing for that industry.
You’ll know what’s happening in the niche, what’s working now, what’s stopped working and by implementing strategies for multiple clients you’ll come up with innovations that you never would have discovered working with just one client in an industry.
Some of your best ideas will actually come from your clients.
You’ll take those, tweak them, expand on them and turn them into something powerful so ALL your clients benefit.
Marketing To A Specific Niche Also Becomes Easier…
I’ll be honest with you. When you first start marketing to a niche it can be hard work. You need to work out what marketing methods work to bring you in paying clients.
You’ll want to create marketing pieces that work and if you can’t write sales copy these might be quite an investment.
To give you an idea I’ve charged $20,000+ to write the different pieces of copy for a niched service and the copy and advice that went with it was well worth the fee.
For marketers already making a serious income I currently charge $6,000 plus $1,000 a month for 6 months for this service where I help you niche yourself.
Good sales copy that sells is not cheap.
That’s another reason it’s a great idea to get some ongoing advice from someone who can help you avoid land mines and create marketing strategies for getting paying clients that have an excellent chance of success.
The good news is once you have a system for getting clients that is profitable you can roll it out on a larger and larger scale.
Combined with intelligently designed service packages and outsourcing of a lot of the physical work and you can create a business with a VERY substantial income.
It’s this approach that can lead to high six figure incomes and even seven figure incomes.
Here Are Some Strategies To Get You Thinking…
When you’re targeting a niche you want to think through these basic questions…”How do I get my prospect from where he is now to the point where he’ll hire me and pay me month after month for my services?”
“With his mindset, experience and knowledge what is the first step in the process of getting him excited about hiring me and working with me?”
My favorite two strategies would be a series of letters talking about the benefits of working with you…one benefit at a time and a lead generating report educating your prospect on the benefits of working with you.
The series of letters would need to be geared to get attention and early in the series they need to be about that business owner, his business, his advertising…focusing specifically on him.
I explain how to do this in the report 25 Different Ways To Get Paying Clients. Specifically from pages 50 to 66.
When you’re targeting a niche other marketers have ignored and you use multiple contacts, well thought through to appeal to your prospects the response rate can be astonishingly high.
And Here’s Another Powerful Strategy…
Many industries have trade associations. They often have newsletters.
You can write articles for the newsletter of the niche you’re targeting or you can pay to advertise in their newsletter.
If no other marketers are actively working in your niche you may be PAID to speak when their associations meets in person.
Imagine being PAID to get in front of your best prospects and speak to them about marketing their businesses more effectively.
With even the simplest call to action in your talk you’re going to pick up some serious paying clients.
It all starts with choosing a niche and thinking through how to market to that niche effectively.