Detecting Your Niche

Guest post by: Tom Abbott
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Having Conversations with Prospects - By Tom Abbott

As much as you might want to believe that your products will benefit everyone, the truth is, not everyone feels the same way you do. In fact, it may only be a very small segment of the market, and your challenge is to detect that niche. The easiest way to do that is to take out a piece of paper or open a new spreadsheet document, and in the first column, list as many possible niches you can think of. And be as specific. For example: soho businesses under 5 years old; dentists practicing for over 5 years, middle-managers in the tourism industry, single-mothers running a home office, etc. In the adjacent columns, assign numerical rankings (from 1-5) for each possible niche as far as your passions, your strengths and the needs of the niche. This should give you a good indication as to the top-3 niches you may want to research further.

Identifying people who are potential customers, called prospecting, is a very important aspect of personal selling. Prospects have three basic qualifications: (1) a need for your product, (2) the ability to afford your product, and (3) the authority to purchase your product. Refining your prospect list is essential to avoid wasting time calling on unlikely prospects or on prospects who cannot place an order large enough to cover the cost of the sales call. How are you accurately qualifying your prospective customers? Be sure to create a list of qualifying questions that will help you accurately identify who your prospective customers really are.

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Having Conversations with Prospects - By Tom Abbott

About the Author: Tom Abbott

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Tom Abbott is a Singapore-based Canadian sales trainer, coach and author of the newly released The SOHO Solution: 21 Selling Strategies For Growing Your Small Business. For over ten years, he has been working with SOHOs, SMEs and MNCs including Bella Skin Care, CP Kelco, M1, Marie France Bodyline, Omega Integration, ScienTec Search, SingTel iMedia, Svenson Haircare and Weatherford to help them increase sales.
He is a member of the Association of Professional Speakers Singapore, Canadian Professional Sales Association and Marketing Institute of Singapore. Tom is also President of the Redezvous Chapter of Business Network International and serves on the Executive Committee of the International Coach Federation Singapore. Tom has spoken at Asia Professional Speakers Singapore, Association of Small and Medium Enterprises, International Coach Federation (Singapore), Marketing Institute of Singapore, Singapore Malay Chamber of Commerce & Industry and Singapore Press Holdings.

Tom has appeared in Berita Harian newspaper, Human Resources magazine, Make It Business magazine, Singapore Women’s Weekly magazine and is a regular contributor of sales articles published in The Singapore Straits Times newspaper and The Singapore Marketer magazine. He has been a guest on radio shows 938 Live “Need to Know” segment and Business Insanity Talk Radio.

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