Today, I want to talk to you about the power of targeting and working with a single niche.
This is very important, and I really hope that you pay attention because I see a lot of start-up social media marketing, digital marketing agency owners make this mistake.
They might have done a $50 course, taken advice from a random person on Facebook and they go out and send cold emails to every business owner in their local community.
They go after lawyers, dentists, accountants, cosmetic surgeons, chiropractors, etc.
However, the problem with that approach is that you are not really building your authority in any given niche or field.
Now let us bring this back home…
I remember a couple of months ago, I had an issue with a tooth and went to the doctors for a remedy.
However, the Doctor could not help me as they did not specialise in dealing with tooth issues and referred me to a Dentist. I went to the Dentist who quickly diagnosed that I needed a filling and that was that.
If you look at the different pay scales for people in the medical profession, you find that people who are more specialised in a certain area, say a Cardiology Consultant or Neurosurgeon or something like that, they tend to get paid a lot higher than your General Practitioner at the local clinic.
Humans have a natural tendency and are wired to give more value to people who are subject matter experts.
If you are looking to build a long-term business, you need to become a subject matter expert.
Now it is possible that you could become a subject matter expert in in two, three, four – many different niches. If you look at some of the largest media buying agencies, they do not work with only one niche.
For those of you who know my story, you know that I used to work for a digital marketing agency, where I was servicing different clients across 20 different niches.
The big caveat here is that you need a large investment behind you and a team of 20 or 30 people to get the work done effectively for multiple niches, when you are looking to general millions of dollars in revenue.
You can find and work with clients in multiple niches, but if your team is just you right now, then you need to work smarter and not harder.
The easiest way to work smarter is to focus on one problem, in one niche that you understand, or you can quickly learn about.
What you need to do is find the pain points, find out who is doing well in the niche, who has the best website, the best landing pages, best social ads, best videos on YouTube, etc.
You need to become a font of all knowledge, so that when you are doing your cold outreach to lawyers or doctors or some other niche, you can demonstrate that you understand their industry and how the industry works.
The moment you can demonstrate that you understand the industry, you know the language that is used in their industry, they will immediately perceive you as an authority – at least on a subconscious level.
This is just behavioural economics – we trust subject matter experts. We listen to them. we give them more time than anybody else who comes cold calling.
If you were a Dentist and were to receive a call from someone, who would you pay more attention to, someone who said:
“Hi, I’m calling from X Agency and we help local businesses to generate more traffic and turn them into leads and generate more sales for you” or someone who said “Hi, I’m calling you from Dental Marketing Agency and what we do is help dentists like you to generate more patients through online marketing systems”?
You are naturally going to pay more attention to the person who is talking in your language, who seems to be dealing only with other dentists.
If you want to be perceived as an authority and build a scalable business that hits five or six figures a month, you should look at how you can become a subject matter expert for one niche.