One of the biggest mistakes I see entrepreneurs make is trying to sell everything to everyone. I understand how this mistake can be made, you think that if you have lots of different products you multiply your chance of closing a deal.
You couldn’t be more wrong.
When you are starting or running a business marketing your business is hard. It’s REALLY hard.
It really helps if you can pick a product and really focus hard on that one thing, this focus is what makes niche marketing so powerful. To make it even more narrow, take that niche product and aim it at a certain demographic or industry.
Niche Marketing Should Be Your Top Strategy
The 80/20 rule is proof of this fact. In most cases 80% of your profit comes from 20% of what you sell. So why not just focus really hard on that 20% and knock it out of the park?
Remember, in today’s world you are building a following, a tribe. The whole point is to get a group of people following you and then once you build that, you have a captive audience of people to sell to.
Now, how are you going to get them to follow you? Well I won’t follow you because I like you or because you may be nice to look at. That isn’t going to cut it.
I will follow you because you have something I need or want. You have information that solves my problems or makes my business money. Bottom line.
You want to be the light bulb and your ideal clients the moths. To make this happen you have to first identify who those clients are – then it’s a matter of figuring out what you need to do to attract them. What do they need? What keeps them up at night?
Figure those things out. Come up with a strategy to reach them. That’s when the magic happens.