Hey I’m Stuart Trier from SEO Cheat Guides. This is one of the easiest and fastest ways to build your six figure digital marketing business. You might be resistant when you hear the statement pick a niche. You may be thinking things like you’re too small to turn down the work, you’re not an expert at any niche, you’re not sure how to pick a niche.
Okay, so one of the first steps to building a successful internet marketing business is to attract your ideal buyers and niching down is the quickest way to do it. As Russell Brunson, one of the world’s top marketers, likes to say, “The riches are in the niches.” In this video I’m gonna explain why you should niche down and I’m gonna give you a framework on how to pick a niche.
So let’s start with why. You should niche down because your ideal buyers prefer to deal with a specialist over a generalist. If your roof needed repair would you look for a jack of all trades or for a local roofer to fix your leak? We all feel the same, we want an expert to solve our problems. We don’t look for generalists and we don’t value them at the same level, but for some reason when we start our digital marketing business we don’t think about what people prefer and we convince ourselves that being a generalist is a good strategy.
Niching down allows you to attracted those ideal buyers, it allows you to establish yourself as an expert quickly. So how should you start? I suggest you set up a niche-focused marketing site. This signals to prospects your serve their unique business. It allows you to demonstrate you understand their business model, their business challenges, and their industry terminology, their clients needs and desires. By leveraging what you already know about digital marketing and applying it to a single niche you can easily become a trusted advisor. You can create content related to any digital marketing and focus it on how it applies to your niche.
For example, the basement renovation business, which headline would appeal to the owner of a renovation business: Seven marketing tactics that deliver basement renovation clients easily versus seven marketing tactics that can deliver clients easily? If you owned a basement renovation company the choice would be so obvious. The first article was written specifically for you. So once you establish yourself as an expert clients want to work with you, they’re willing to pay a premium, and generally it’s just easier to deal with them.
Okay, now onto how to pick your niche. I’d start by asking myself questions to generate some ideas for niches to consider. So do you have any work experience in a particular business niche? Are you a frequent customer of any businesses? Are their any businesses related to some of your hobbies that you can serve? Once you build a list of a few ideas I’d narrow them down to the top three options. Is there a profit potential in these niches? What does that business earn per customer?
So for example, if we’re gonna look at a kitchen renovation business they earn between 10 and 50,000 on average per kitchen and generally operate on a 20% profit margin, so each customer’s worth between two and 10,000 dollars. So helping them attracted more customers would be very beneficial. Even if you only brought in a handful of new clients each month, you want to make sure that the niche you target has capacity to grow and you’re able to deliver on that value. That way when they scale you scale. So for example, a single massage therapist can only see six patients a day and generally works five days a week. So you have a cap on how much value you can add. They’re fully booked at 30 patients a week.
Pick A Niche Questions
So questions I like to ask myself before I enter niches: How many businesses are there in the niche? How many per city? How much profit do they make per customer? Is it a high dollar or a high transaction business? What is the sales cycle of the business look like? Are people searching to buy things like emergency plumbers or is it more like a kitchen renovation business where it’s a big purchase and they’re doing research? Are there marketing experts focusing on this niche already? How easy would it be for you to build a list of businesses in that niche? How easy would it be to contact those business owners? Do they have places where they congregate, Facebook groups, trade associations, conventions? These are just a few of the questions you can ask when you’re trying to pick a niche.
If you’d like to learn more check out my free guide on niching down.
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