What Niche Market Should You Target?

I recently posted a question on Facebook… It went like this: “It’s a lot easier to turn a ship that’s moving in the wrong direction than it is to turn a ship that’s not moving at all” What do you think, is that true or false?

Well, just as many commented and agreed with me – in niche market terms, it’s true!

If you’ve been getting “analysis paralysis”, scratching your head and trying to figure out what niche market you should focus on, do some research, select a niche market and start heading toward it. If you’re off course, I promise you, the market will correct you.

Consider this when Selecting your Niche Market

If you’re not heading in the right direction, the market will quickly give you the necessary feedback that will help you adjust your niche. Don’t get overly concerned that what you decide today is a fixed decision. Be prepared to change your niche as the market demands.

Be prepared, you may at first select the wrong area or niche market to focus on. Many successful small business marketing experts have made that same mistake.

It’s very interesting how areas of expertise can change. But you can only change your direction if you have already set out in one to begin with.

Learn from Marketing Experts – Bob Burg, Dan Kennedy

Bob Burg is the author of a book called “Endless Referrals.” He is now positioned as a referral expert and an expert on helping people to generate referrals for business.

When he first started out, his niche market was memory experts. He noticed that people who took his memory courses wanted to improve their memory to remember the names of people they’d met at networking meetings and events. They wanted to improve their memory to achieve better business results.

As he spotted that connection, he started to focus more on being the referral expert. No one accused him of being a fraud because he was now a referral expert instead of a memory expert. The market let him know in which direction to steer his business.

When you set course in your chosen direction, look for niches and markets where it’s going to be easier for you to establish personal relationships and position yourself as an expert.

If the niche market you do choose turns out to be an enormous amount of effort, you have to weigh whether or not it’s worth your while to continue down that road or take a different road to get business.

When Dan Kennedy, the marketing expert, was invited to submit a proposal to give a speech in Switzerland, he opted out. While plenty of other people would jump at the opportunity, and spend a day putting together a proposal to bid, that is not the way he wants to go after business. Perhaps it didn’t seem worthwhile to spend the time writing the proposal. The point is that you have to make the determination of how you want to do business.

Your niche market will evolve with your business. It’s an actual evolution that happens in most any business. In my own business I have seen this happen too. I started out as specializing, by trial and error, as an effective cold calling expert. But I didn’t stop at teaching cold calling techniques. Today, I’m teaching people how to find new business.

One niche market I specialize in is helping small businesses market to big business. I help small business owners land big contracts. When you’re marketing to corporate clients it’s very important to target a specific niche. That way your corporate client will see you as an expert!

My encouragement to you today (especially if your goal is to attract corporate clients) — is to select your niche market. Make a decision now and go for it. If you need to change down the track then let the market guide you.

When you let the market guide you, then you’re guaranteed success.

Home Party Plan Marketing Information – How Can Social Media Benefit My Business’ Home Party Sales?

The astute and very pleasant Direct Sales Consultant, known by the online handle The Traveling SalesWoman, asked the following question of me?

You were the person who encouraged me to join Twitter, and I’m so grateful for that! Can you share some further thoughts about Twitter and why home party business owners should join in that conversation?

Are you are brothers and sisters fan? If so you have not missed the obvious connection between Sarah Walkers’ Greenotopia company and its’ many references to social networks and social media platforms such as Facebook and Twitter! And if you don’t know by now, you are no-one if you are not on twitter. I was amused to find that my vocabulary has changed considerably over the past year!

I am YouTubing, plurking, Facebooking, tweeting, blogging, linking, MySpacing, texting and a host of other things too! All these are some of the most popular social media sites and as you can see things can get pretty hairy, so I definitely recommend that you have a social media system.

Direct Sales Home Party Marketing Tip: Any task you do more than once NEEDS a procedure, system or checklist!

Before Bill Gates, no one had a personal computer! One man single handedly revolutionized the world with a dream…his dream was that every home would have a computer! His dream was to provide value to every single household in the world! Even after Bill Gates created such an incredible tool, that gave rise to the Internet, Easy Online access & E-Commerce; it STILL amazes me just how many people refuse, are afraid and/or have not taken advantage of the power of the computer and the Internet! Computers as far as I am concerned are the best social media tools (of course for the obvious reason without one you cannot access social media yep)!

I told the traveling saleswoman that social media and social networks are all about relational capital. And like any thing social media marketing is an art form. The question I often get asked by home party consultants and direct sales reps. Is why don’t they buy my product. The answer is simple, you have written a check, which came back with the red stamp mark, insufficient funds! (thanks Martin Luther King Jr. for that one).

You see people buy because:

i) they know you,
ii) they trust you
iii) they believe that you have the solution the problem which the face and
iv) for status

People don’t buy a product, nor do they buy a feature and the benefits are as they are decided upon by the story they tell themselves. Your juice drink may help me loose weight. But the story I am telling myself is that I am going to look sexy, finally that size 0 pair of jeans that I have seen on display for a year will be mine. I am going to get hit on by men….you get the picture? So if your pitch is not in line with my story…

How does all this fit into social media and social marketing? Simple, you are building relational capital, by depositing in the bank of getting to know you, getting to know all about you! And you are not only doing it with one person, no you are reaching out to many in one shot!

There are people on these sites that follow you, there are those that interact with you and those that want to see what you are about. The cool thing about social outlets is that you are King and Queen of your own little internet real estate King/Queendom!

Social media and social marketing is all about building that relational capital that gives you the all access pass to make your direct sales pitches to those who are ready, able and willing to hear what you have to say, and have the money to spend on what you have to sell. Do not under-estimate the power of relational capital!

How else do you think Pres. Barack Obama did it? I will be holding a special in a week or so about “the Pres. Obama Social Media Effect : How You Too Can Go From Zero To Hero!

For more on social media, and how to use it effectively, just Google “social media blog!”

Real Estate Letters – Direct Mail Campaigns Still Work

If online marketing is such the rage, why do agents still mail real estate letters? Well, in a word or two…it’s because direct mail marketing still works!

If you’re an agent you need to market your services. You won’t get any business if people don’t know that you’re in business…and a multi pronged approach is arguably the best approach. For example, networking, handing out business cards and distributing flyers will work to your benefit.

And although mailing real estate letters is not as glamorous, or appealing, as internet marketing it can still be an integral component of your marketing plan. People still like receiving mail delivered by the postal service, despite being bombarded with more junk mail than they care to receive; so why not give them what they want?

There are other advantages to mailing real estate letters, but in this article I’ll only address three of them; decreased workload, residual payoffs and increased income. Let’s take a closer look at each to see how they can benefit you.

One. Decreased Workload – This should be an obvious one, as once you’ve written one letter you can mass mail it until your heart is content. Plus, with just a little bit of imagination you can take one letter and generate scores of other letters from it. Once you’ve done the work once you can reap the benefits for as long as you’re in the business.

Two. Residual Payoffs – A thing about letters is that they can sit around a person’s house for weeks before they get around to responding to them. And that’s okay, because they still have more shelf life than a phone call, which can be forgotten just as soon as the call is ended. In fact, it’s pretty common for prospects to call months after receiving letters, which I call “long tail marketing”. The point here is to not get discouraged if you don’t immediate results.

Three. Increased Income – Real estate sales and marketing is a numbers game and a direct mail campaign can help you spread to hundreds of people that you can potentially leverage into leads that result in listings and sales. Fifty letters a day times five days a week will result in 250 contacts per week. How many leads are you generating right now?

Summarily, real estate letter marketing campaigns can help you increase your business, to generate more prospects, get more listings and earn more commissions.