Why having a niche is crucial

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The primary reason I’m stressing selecting a niche has to do with the fact that there are two basic steps to acquiring a new client: attracting their initial attention and then motivating them to do business with you.

It may come as a bit of a surprise, but of these two, getting a prospect’s initial attention is often the most challenging part of the whole process. The world is so noisy, with so many marketing messages, it’s tough to break through ...

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Beating your competition

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Let’s talk about competition. Although it may sound a bit strange, ideally what you want is bad competition. What I mean by this is that there are enough competitors to make you feel good about the viability of the niche, but they’re doing a lousy job at marketing their products or services. By implementing a marketing funnel, you should be able to capture a nice share of the market.

If there’s intense competition in a niche and they seem to be doing ...

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Niche Pricing Strategies

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How much money is your niche able or willing to spend? Are you selling to bigger corporations or smaller ones? To the affluent or the almost broke?

You can accept as gospel that some of your prospects will think your prices are too high. In reality that has more to do with how well you communicate the benefits, but the market you choose to sell to will also influence how much you can charge. You can ...

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The importance of affluent niche marketing

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The Wall Street Journal makes an interesting observation about the importance of niche marketing, especially if one is marketing to the highly affluent.

Case in point, Kayne Anderson Real Estate advisors, a private equity firm just completed its fourth real estate fund in a record amount of time.

What was the secret to attracting accredited investors?

There are two lessons to be learned.

First, the fund focused on a highly niche segment of real estate investing-medical office building and student housing. As the WSJ ...

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Two Ways To Avoid Becoming a Commodity Business

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Without a doubt, one of the worse things that can happen to any business is to be perceived as a commodity-interchangeable with everyone else who offers similar services. Although most people intellectually understand the importance of avoiding of that trap, more and more find themselves reduced to competing on the only unique variable left-price. Perhaps they think it’s too difficult. Perhaps they think they don’t have anything unique to offer. If that describes you, (or you fear that you may ...

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How To Make A Niche Market Pay Attention To You Through Online Marketing

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If you want to increase your online marketing visibility to a particular niche market, one of the most effective business growth strategies is to clearly explain why these prospective clients should be paying attention to you.

In today’s video I share some examples about how some highly focused companies are attracting consistent streams of brand new clients by clearly communicating why they have the right to be communicating to this niche. This is an important point. Although marketing to niches is ...

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Why Prospects Don’t Convert-Niche Marketing Strategies

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Few things are more frustrating than finally developing a system that attracts lots of new prospects, yet none of them turn into actual clients.

So today, I’d like to share a couple of thoughts that perhaps will be helpful. One is more tactical in nature, while the other may require a bit of a strategic shift. Both are worth thinking about.

Obviously, there are a host of factors that influence conversion, but I think that it’s important to recognize that simply driving ...

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Get Into The Stream

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I was reading the interview Jeffery Katzenberg did at Syracuse University as a part of USA Today’s CEO Forum. One comment he made caused me to pause and think.

You need to get into the stream.

Katzenberg was referring to the importance of heading in the direction of something that interests you, but I think it’s more than that.

There are a lot of streams you can follow. Lots of niche markets you can serve. Why not focus on the one that excites ...

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