How To Target Only Your
Most Profitable Niches (potential customers)
Imagine having a product or service that is in hot demand, the consumers are literally swarming ready to jump and buy it from you. In fact it’s so hot that you have a long queue of people waiting for it with money in their hands – they pay you and offer even more just to get your product (no I’m not talking about overheated Auckland rental market :))
Had enough dreaming?
Well the reality of today’s market is that the moment such product or service appears – there’s an army of entrepreneurs that are skillful, have money and ready to bring that product to the market.
It’s called competition!
It’s good for the consumers as the quality and the affordable prices are assured! It’s good for the business as it keeps these entrepreneurs performing and finding new ways to satisfy the demand and provide the good services.
There’s a short window of opportunity when the new product springs into the high demand and the business that brings it to the market can greatly benefit from this situation. If there’s the void it will be filled. It’s a basic law of supply and demand!
If you have no competition – either you extremely good at providing this product or service, so that nobody can compete with you. You are in early stages of the product launch. Or you have a monopoly in that market place – this is never good for the free market and quite often results in mass dissatisfaction, leading to mass unrest, leading to the revolutions – we’ve seen this happening a few times lately!
Typically in business you are faced with fierce competition on many levels. How can you beat them? How can you outsmart and outperform the army of competitors?
Most importantly: How can you do it on a shoe-string budget?
There’s the way – so pay close attention. Here comes heavily guarded secret recipe of business success…. Well not really. It’s a well known concept of targeting. Out of all possible buyers in your market niche – there’s a segment that has money, prepared to pay premium if you satisfied their needs!
It’s called a top 10% concept.
Only focus your marketing and selling efforts on that category of your prospective customers. Segment your market within your target niche to a very selective group by satisfying their niche and target them with your marketing efforts with laser precision.
Here’s the example. Have you ever thought that someone can pay $5,000+ for a cake? Not the special Scandinavian cake but a *Normal* chocolate cake?
What are you saying (or smoking) Dmitri? Who in their right mind will pay $500, $1,000 let alone $5,000 for a cake? What kind of cake should this be – a gold plated one?
The top 1% (or maybe even 0.1%) of this market will and there’s nothing common between these people to segment them out, apart from the fact that they celebrating once in the lifetime events – like anniversaries, weddings, etc.
They possible were not planning to spend this much money for a cake, but once they saw the examples they went: “wow, I want this because the person who this is for will be impressed!”
Well my friend and a prolific enthusiast of cake making Kevin charges this kind of money for his work – deservingly so.
Want to see some examples of his work – – get ready to be amazed!
Here are practical steps that you can take in your business to target “top 10%-ers”:
1. Ask yourself: who sells the most expensive product or service in my niche market?
2. Research them and find it what’s the point of difference between your offering and theirs?
3. Who buys this product or service for the premium price?
4. How can you get a list of these people and approach them en-mass with your Irresistible Offer to Sample your product or services?
5. How can you position and present your product or service over and above to that of your competitors?
Remember what the boy said to Neo when he went to see the Oracle in Matrix movie – “there’s no spoon”. My version of that saying will be “Less is More”.
Less drama, less logistics, less infrastructure to handle huge volumes – focus on selling the bigger ticket items is the answer!