Jayme Broudy worked for years as a general management consultant who worked with a variety of business owners across many industries. Her challenge was that she struggled to find clients because she lacked a clear, focused target market to guide her marketing efforts.
In 2006, Jayme wanted to reach better, more qualified prospects. After realizing that building contractors–from plumbers to electricians to roofers–were traditionally her best clients, she developed a Super Niche marketing strategy targeting the building contracting industries.
Broudy first developed Contractor’s Business School, a unique brand identity and consulting program tailored to construction contractors to help them produce more profit in less time. She then established her reputation as an industry thought leader by contributing articles to contractor trade magazines and speaking at industry conferences.
Jayme’s decision to embrace a Super Niche transformed her business. In less than 9 months, she went from ‘niche anonymity’ to securing seven major article placements in contractor trade magazines, including Building Systems Magazine, Lawn Care Professional and a monthly column in Construction Business Owner Magazine, which was timed to coincide with the launch of her company website.
This trade media coverage helped Jayme become a known and trusted resource to the contracting industry, attracted great prospects and secured speaking slots at industry events including the National Electrical Contractor’s Association (NECA) and Electric West conferences. Her contractor-focused marketing created a buzz for her business among contractors, boosted her website traffic, attracted industry blogger attention, and generated article reprints for a direct mail campaign.
To Find a Niche: Focus!
Today, it’s harder to stand out, let alone thrive, as a generic business. If you are a mere “management consultant,” a humble “business coach,” or a nondescript “financial advisor,” you risk fighting it out over price with competitors who offer identical services to yours. The current recession is forcing businesses and professionals to compete mightily for shrinking budgets.
When faced with pressure to attract new leads and close more sales, many professionals are tempted to employ a ‘take all comers’ approach to marketing. Not only is marketing expensive when everyone is a prospect, it also lacks the effectiveness because products and services have not been tailored to the specific needs of real people.
In my book, Get Slightly Famous, I state: “businesses with a Slightly Famous (marketing) strategy flourish by establishing themselves within a carefully selected segment of a market; they target a market niche that they can realistically hope to dominate.”
This Super Niche marketing strategy distinguishes your business as the preeminent source of solutions for your best clients and customers. In my consulting work for clients, including Contractor’s Business School, I see the profound benefits when businesses cultivate a Super Niche marketing strategy.
Not only do companies with a Super Niche attract the right kind of business, they don’t have to work so hard to get it. They have higher perceived value over generic competitors, allowing them to charge more. Because companies with a Super Niche achieve industry dominance they are often insulated from economic downturns.
Niche By Design
By narrowing your focus, you can create more opportunities. Assuming that your niche is large enough, you can do quite well by becoming a provider of products and services that can’t be found anywhere else. It begins with a conscious decision to tailor your marketing and sales programs to specific industry audiences.
Start with an internal audit of your past clients and customers. Which companies spend the most money? With what types of clients have you developed a strong track record and results? Which of your customers truly appreciate your service or have an ongoing need? Most importantly, with whom do you enjoy working?
Next, explore unmet needs in your ideal marketplace. Use Google to gain an understanding of your competitors and what they offer. Look for ways to develop products and services not found anywhere else or opportunities to create high-end products and services customized to your Super Niche.
For example, a chiropractor could approach moving companies with a seminar, “Proper Lifting Techniques that Reduce Worker’s Compensation Claims.” Or, a career coach could target only those in mid-life with a premium-priced mentor program, “Live Your Passion After 50.”
Establish Your Company as Industry Thought Leader
By cultivating a Super Niche, you use the power of positioning to make your business distinct, meaningful and indispensable. You will become a resource and trusted advisor within your niche. Like Jayme and Contractor’s Business School, you’ll use your niche-specific expertise to communicate competence and industry leadership in a manner that is relevant and appealing to your target market via trade publications, online media, networking and speaking at industry conferences.
Becoming a thought leader within your target market starts with sharing your knowledge. You can give away free information—articles, blog posts, special reports, webinars, podcasts or anything that attracts prospects and makes a positive contribution for them but does not involve sales pressure. The more your company becomes known as a source of objective, expert information, the more potential clients and customers will trust you.
As a thought leader, you’ll become a center of influence, and because people like to do business with people they know, or whose reputation they already trust, you will be their first choice. By sharing what you know, customers will seek you out (instead of the other way around). As you establish yourself within your Super Niche, you’ll develop a special reputation that drives word-of-mouth, and you’ll gain even more credibility through testimonials, case studies, and specific results you deliver to members of your Super Niche.
Just Do It
A recession provides a perfect opportunity for refocusing your marketing efforts. “During prosperous times everyone feels confident,” says Barri Carian in Grow In A Declining Market. “They’re promoting their business and investing aggressively. Because everyone is spending money on marketing, it becomes more difficult to differentiate yourself from the competition.”
Niches are, above all, manageable. You can get your mind (and wallet) around them well enough to design a marketing strategy that speaks in personal terms to real prospects. You avoid wasting time and money broadcasting your message to a general population that isn’t particularly interested in what you have to offer.
When you cultivate a Super Niche, you’ll own the playing field. Competitive challenges become a thing of the past. You’ll get more business with less effort and you won’t be competing with similar businesses solely on price. The best part is that cultivating your own Super Niche requires only time and effort. Now, take action!
