No matter what you have to offer the marketplace, you must learn that the most successful businesses don’t try to be something for everyone. Instead they focus in on a narrow subject area – a niche.
No matter what you are selling (whether it be a product or a professional service), you need to hone in on your niche.
At first glance, it may seem like offering a product or service that is appealing to everyone will generate more sales than one geared toward a small group of people. But the fact is this concept rarely ever pans out (and we’ll get to that shortly). So it’s in your best interest to try not to be lulled by the thought. Instead, what you need is to focus on solving a specific problem. Usually the more specific the better.
Marketing is all about being at the right place, at the right time, with the right message. If you try to be there for everyone, your message will become diluted. And if you dilute it enough, it won’t be the right message, at the right time, for anyone. Try to remember that and apply it in everything you do related to your business – it’s a golden rule of marketing.
I’m sure you realize it’s impossible to meet everyone’s needs. So you need to select a target group and attempt to appeal to them and them alone.
This may seem simple at first glance. But, take it to heart; it really is a sure-fire way to increase your sales.
I’m sure you get the idea. Just focus in on one specific area. It is impossible for any one product or service to fill everyone’s needs. So focus your message by creating a Unique Selling Proposition.
After building your Unique Selling Proposition, you may need to adjust your product or service, your advertising, your website, or your target audience a little (or all of them). Fortunately, none of these are set in stone and can usually be changed quite easily.
You may be a little skeptical at first. If this is the right way to do business, why don’t all (or any) of your competitors do it? It’s a good question, and here are a couple of answers…
For one, many businesses are afraid to set themselves apart. This is due in part to being afraid of stepping aside from the pack.
And secondly, it is probably out of pure greed. Targeting a select audience seems like it would cost you some clients. But the reality is you can’t appeal to everyone anyway. Try to do it and it is likely you won’t appeal too much of anyone. Differentiating is the key to success in business.
You stand a better chance of becoming an acknowledged leader in a smaller niche than in a larger one. If you look around at your competition, it is likely that no one has segmented the market and gone after a smaller niche. That means there is a prime opportunity for you if you give this a try.
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