When the right person gets yourmarketing messages, whether in a printad, on your website, or through socialmedia, they should immediately feel aconnection along the lines of, “This iswhat I need in my life!”
First, let’s start with defining what a service-based business is. A company in this category provides intangible skilled or creative work to benefit its clients. Examples include accounting, consulting, landscaping, marketing, and software development, but there are so many more. When choosing a specialty, you may be thinking that getting a new business off the ground is difficult enough, and it may seem counterintuitive to limit your potential customer base. But the reality is that targeting a more specific niche will actually help you attract more customers, scale faster, and be more profitable. Here’s how to do it.
In CPR training, we’re taught to ask a specific person to dial 911, because if a person shouts “somebody call 911!” into a crowd, no one will take action, thinking everyone else is doing it. Marketing is very similar to this scenario. If you have a vague message, you’re shouting your message to “somebody,” and nobody is going to be listening. However, if you have clearly defined your specialty, you can be very specific when you talk about what you offer. When the right person gets your marketing messages, whether in a print ad, on your website, or through social media, they should immediately feel a connection along the lines of, “This is what I need in my life!”
If you do a lot of different things for many different people, you’ll probably need the equipment, space, marketing, and manpower to make it all happen. The more you own your niche, the fewer resources you’ll need, so there is more potential for profit at the end of the day.
If your target market is broad, every project or customer will be very different. You’ll constantly have to work to gain the relevant knowledge or skills to perform well. This is not a practical way to grow a business, and it significantly impacts your ability to scale. Conversely, if you know everything there is to know about your specialty, you can develop a standard process that gets a little bit better every time you implement it.
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