I got this question the other day from a service provider:
How do I get clients?
And what I came back with was different to what she expected. It was along
the lines of this:
The first thing you have got to be clear on is what type of client you want. And
In order to identify the type of client you want, you need to work out who you
can add the most value to…
Who can pay you the most?
Who is in the most pain?
Who has the biggest bleeding neck?
Who can gain the most from what you have?
For instance, imagine you’re a physiotherapist, and you’re really, really good.
You’re the best, or at least in the top 1%.
You could open up a clinic somewhere in a low income area, or in a high income
area. You could target professionals or students.
Who is going to be a better target market?
Likewise, take it a step further…
You could angle your service at someone like an NBA or NFL team in the USA, where
players are on million dollar contracts.
Who are you worth the most to?
Interesting question, isn’t it?
The same skillsets, but a very different result in terms of what people will pay you for
it, depending on who you target.
Ok, so yesterday I said go wide first when it comes to niching your market.
And here’s why:
Imagine you’ve got some bait, and there are three buckets in front of you with fish in them:
Bucket #1 contains whiting
Bucket #2 contains garfish
And bucket #3 contains flathead
Now imagine dipping the bait (your product or service) into each bucket.
The whiting sniff at it, but aren’t interested.
The garfish take a few nibbles.
And the flathead gobble it up like a 5 year old handed his first piece of chocolate.
Who do you want to be selling to… the whiting or the garfish?
And that’s why you want to do a little testing, before you niche too narrowly.
Otherwise, you could end up selling to the whiting for years, and missing the easy road.
Everyone talks about niching, but is it really the best way?
Yes, and no!
Here’s the thing: recently I was involved in a jv project where we tried to niche
directly into one industry.
We threw all our eggs into one basket.
And it wasn’t the right basket.
The process didn’t work.
So now I’m trying something different in my marketing.
I start broad. I go after different niches, different offerings. And then
I see what’s happening. I’m testing the market, seeing how everyone
Inevitably one offering, one market… will pull better than the others
and… THAT’S WHEN YOU NICHE.
More on this tomorrow, including a funny fish metaphor I think you’ll