YOUR NICHE = THE MIND OF YOUR CUSTOMER
Updated: Feb 1, 2020
Like it or not, we live in a time when prospects and clients demand specialisation. They want to feel that they're receiving the product or service they want and need from an authority or expert.
You’ve heard it time and time again… Know Your Customer! The importance of deepening your knowledge of your customer is being reinforced by almost every business thought-leader these days. Any successful entrepreneur, willing to share their secret sauce, will tell you this has been a critical success factor.
But the fact remains that today, most marketers are channel-centric and not customer-centric. Marketing strategies focus on campaigns and how much the company is going to interact with customers by channels. Marketers are making spending decisions on website development, Google search, online campaigns, and other advertising tools. But as outlined by Frank Cespedes in his Harvard Business review article The Customer Has Escaped, channel-centric approaches that serve static segments are no longer sensible or sustainable options, for a variety of reasons.
Customers have become detached from the channels that used to claim them, and the average marketing program is looking at the average customer, failing to recognise that there are no average customers. Nobody is the average.
Most business owners today try to expand their product or service offerings, reasoning (incorrectly) that they're casting a wider net that will catch more fish. In reality, they're doing the exact opposite. Your prospects want to feel as though you're focused solely on the things that are most important to them. If you try to be everything to everyone, you become nothing to no one.
The key is to discover what your ideal clients really want and make that your "niche" market.
A mere 20% of your current clients are producing 80% of your total business revenue. Those are your ideal clients, and they love what you do and what you provide for them. When you select the area that attracted them to you as your niche market, you immediately begin to attract this type of client in droves.
What the clients feedback tell you? Do you listen?
How does your service evolve?
Your revenue and profits begin to skyrocket, and you will actually begin to work fewer hours. You will "play" at what you do instead of work at what you hate. If you fail to create a custom market for your business, the cost to you may be staggering…
You lose revenue and profit.
You work longer and harder.
You lose the chance to build a valuable business asset.
You will be forced to compete forever on price
You will never become unique or differentiate your business from your competition.
These are the secrets business owners must know to effectively position their business in the proper niche market that will explode their revenue.
To take a look and see how we can help you define your positioning or help you evolve it come to our THINK BIG session
Dedicated To Your Success,
Antonina Manev - Business Growth Strategist
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