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Find A Niche Market That Really Gets You More New Business

Written by: Mark Satterfield

Article Overview: Successfully getting more new clients depends upon what niche you target. These two criteria are crucial for making sure you get more new business.

Find A Niche Market That Really Gets You More New Business

Here's a short anecdote that I believe will prove to be a valuable marketing tip and really help you get more new clients. About ten years ago my wife and I took up golf. It seemed like a great idea at the time since we're always looking for fun things to do together. Marian was a big advocate of outdoor nature trails, while my opinion was that if you had seen one squirrel, you'd seen them all. So we got ourselves some clubs, took some lessons and off we went.

Unfortunately, what I quickly realized what that Marian had a natural skill for the game, while Mark apparently had none whatsoever. It seems the game places less emphasis on brute strength (Tiger Woods notwithstanding) and more on rhythm and balance (which I discovered in my case were in very short supply.) However, that didn't stop me from continuing to play, and more importantly, continue to invest in the game.

Case in point. As I went to take out the garbage this morning I passed by a rack in my garage. In that rack were not one, not two or three, but five drivers representing some of the most elite of golf manufacturers. Now, it's important to keep in mind, these things are not inexpensive. A driver will typically set you back around $500. So why in the world would someone like me, who is working hard, just to get to become a mediocre golfer, invest so much in all this expensive equipment? And perhaps even more importantly, what does this have to do with niche marketing?

The answer is that my buying multiple drivers actually has everything to do with selecting a niche to focus on, because "golfers" are in many ways the ideal niche. The lessons we learn about selling things to golfers are applicable to anyone thinking about what marketing niche to focus on. Let me explain what I'm talking about in a bit more detail.

The golf market has two ideal characteristics. Prospective buyers of equipment have both a "need" to improve and a "want" (or desire) to get better. These twin levers of need and want are important to keep in mind when you are deciding upon a niche.

For example, let's take a marketing consultant, largely because it is something I know a little bit about. A marketing consultant who decides to focus on small business owners has a niche that meets the two criteria I just spoke about. First prospects have a strong need to get more clients. Marketing consultants tend to appeal to business owners who are getting tired of the feast or famine business cycles, but loath the idea of cold calling.

However these prospects also have a strong need or desire to improve their businesses as well. For entrepreneurs and owners of small businesses, their success is largely determined by how much money they make, the neighborhood they live in, the car they drive and the other outward manifestations of material success. I realize that it is crass to put it this way, but how your spouse and friends view you is determined in a large part by how successful they think you are. There is a lot of need and desire on the part of small business owners to grow their businesses and achieve as much success as possible. Thus a marketing consultant who focuses on this niche will likely have an audience interested in what they have to offer.

I've found that re-thinking one's niche is difficult for most business owners to consider. Many business owners I speak with adopt the attitude that once one they've decided what niche to focus on, then that's the niche they'll market to forever. Personally I think that's a mistake, especially in these difficult economic times. From a practical perspective if your current niche isn't providing you with the amount of business that you need, it's time to consider some alternatives. When you do so, if you keep the twin criteria of need and want in mind, you will dramatically increase the likelihood that you will focus on a niche that will invest in what you have to offer.

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Article Tags: business sales training, executive sales training, insurance sales training, new business, niche market, sales development training, sales presentation training, sales rep training, sales team training, telesales training, training in sales



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