Me again folks with Part #3 of why panic in difficult times won’t help you and how in fact to ensure your least and last affected, not first and most affected in business by a difficult economic climate – a competitor wanting to gatecrash your party or anything normally considered out of your control.
Remember the analogy I used with the last Rant was, and I quote “A tree with shallow roots in a storm is vulnerable to falling compared to a tree with deep roots in a storm. The analogy applies to business when it comes to panicking when things get tough. So what constitutes deep roots for a business that would stop them from toppling in difficult times?”
Now in the last two Rants I explained that your list of clients and your reputation with them was the most important “deep root” you can have, followed by the fact that you must become a Master of Marketing, more specifically Emotional Direct Response Marketing if you want to open the proverbial financial flood gates. If you missed them and you want to read about it, simply go to www.rebelliousrant.com and read the last two Rants. So what’s next?
Which leads me to “Riches are in the Niches”.
Most people in business are trying to be everything to everyone. The problem with that is it’s extremely hard to do for many reasons. In no particular order, you need to be good at many things, many services, many products. The delivery of your services and products is more complicated, costly and potentially full of holes.
It’s also more difficult to systemize a business that’s not niched. Consequently, that business is more likely to take your life than give you a life. Hence, where before you were working for an idiot, you’ve now become one.
Your costs of doing business are greater than when you’re not in a niche. And even worse still you don’t get to charge as much for your product or service when it’s not niched. The more I think about it the worse it gets – your advertising has to be broader and more costly and your message to the market is also broad and doesn’t enter the conversation your prospect is having with themselves… the tighter the message, the better the response.
Frankly, I can’t make a case for NOT niching.
When I look around at success stories, most specifically my own clients, niche is a common thread. What you should be looking for is a niche within a broader niche that’s just an inch wide and a mile deep. To give you an analogy – the beauty salon I attend does not niche, they’re everything to everyone (yeah, I know what you’re thinking… Give up or go to another beauty salon Mal… Remember I’m in shape – round’s a shape.)
Let’s get back on track…
The beauty salon would fall into the health and beauty niche, which is a mile wide if not wider. What I’d recommend and what in fact has happened with my clients is they specialise and become the authority expert in their niche. For example… in anti-aging or cellulite treatment. This is an inch wide but a mile deep as opposed to an inch deep and a mile wide which is what most people’s products and services are.
There’s another great reason to niche – probably more important than everything I’ve had to say already and that is it’s easier to be the authority, the expert, a celebrity and to create credibility in a niche than it is if you’re not in a niche.
When you consider for a moment money moves to you or not based on whether you’re a GENERALIST (you sell to anyone and everyone like “Target” and people just come to shop), a SPECIALIST (where for example, you’re a general practitioner who is a professional but still has limitations on what they can charge and what shingle they can hang on their door), the AUTHORITY EXPERT (simply tells you what to do and you do it. Let’s face it if you needed heart surgery you’d want the best. You wouldn’t care what you paid or what he or she asked you to do, you’d just do it).
And that’s who you want to be in business – the Authority and the only logical choice on what you do. So you get to work with who you want, when you want and charge what you want and be the King, not the beggar.
Moving on with our next point in the valuable 17 Point Checklist to getting your client’s and prospect’s attention…
Especially in these uncertain economic times, when every cost must be considered for its value to your business, the last thing you’re going to want to do is send out ineffective marketing material.
Why? Because in difficult times like ours, there will be a direct correlation between your success, and your ability to get your client’s or prospect’s attention.
So remember, before sending out any direct mail offer (a printed ad, an email message, etc.), you’ll want to review your effort to make sure that you have applied each of the following 17 points properly. These will significantly enhance your chances of having a successful response rate.
Any marketing you do, and any money you spend on that marketing is wasted unless it grabs your prospects attention and gets them hammering on your door wanting to do business with you.
So before you send out anything, be sure to check the following to maximise your return on investment…
15. Test and Improve
Test small, then adjust according to your test.
There’s a few tricks to testing. Firstly if you are capable of advertising and marketing to the level of my ability and it doesn’t work, it’s unlikely to work irrespective of persistency or adjustments. That said, I see very few tests that would meet the standard I set myself. So there’s a need to test and test again for most… Fast, often and cheap.
What you’re attempting to do is get closer and closer to more success so test, adjust, test, adjust – but for a test to be valid you must only test one thing at a time like headline, offer, call to action, price. There’s even more good news. It’s cheaper and easier and quicker to test today than it’s ever been. The internet is no more than a massive yellow pages online where you can research and test your product or service for peanuts.
Our forefathers of course would take months or years to do what you can now do in a weekend, so make sure you take advantage of the Internet and the resource it represents because it’s provided you with a breakthrough of such magnitude, I expect we’ll never see an opportunity like it in a hundred lifetimes where a little guy gets to be a big guy.
All the best,
Committed to Elevating the Financial Wealth and Wellbeing of Society
Through Entrepreneurial Excellence and Guilty of Conspiracy to Create Capitalism
P.S. If you’ve missed any of my previous Rants, I have them all available for you to see on my website.
Simply go to www.rebelliousrant.com and enjoy!