Find Your Niche Market
Roger is the Founder at Enfusen. He was #40 on Entrepreneur Magazines Most Influential Digital Marketers in 2016. His past companies have made INC Magazines Fastest Growing Companies in 2011, 2012, & 2013.
This video explains how to find your niche market. This is important in helping your business grow to its highest level of success by being specific, and focusing in on that space.
1:04 One product, one service, one target audience.
2:22 A niche can help you grow in a more successful manner
4:05 Geographical, industry, or service niche.
One of the most important things when it comes to creating a successful digital marketing agency is choosing a niche. A niche isn’t everyone and everything, but there are a couple of different paths that you can take or channels that you can take, and there’s a combination of different channels that will really help you be successful.
Let me start with the pretext of where I found success from a marketing agency perspective. When I started my agency in 2005, it was called National Charity Services. You can already tell where my space was going. We specifically offered one service to one type of client. We offered marketing for car donations using digital marketing … SEM, CEO, social media, content marketing, only to non-profits that accepted car donations, primarily Goodwill, Red Cross and the Salvation Army. By concentrating and that space, which is a 100 million dollar a year industry, at the time it was a billion dollar a year industry, we were able to become the best that we could possibly be at that. We had one product, one service, one target audience.Year after year, as we worked on that, we built a reputation as being the go-to brokerage house for the marketing services related to car donations online. Now, that allowed us to expand into other services. Setting up a call center, actually processing, picking up and selling the donations, filing the tax documents that went with it, but it was all built on the backbone of offering one product or solution, one service, to one set of clients.
When we started Enfusen, we had one target audience. We were working directly with Microsoft, selling only to Microsoft partners, and developing a data product that served their needs. Now, after two years of doing that, perfecting our pitch and getting our product to market in that channel, we then started expanding out into healthcare, into non-profits but, again, offering one primary service, which is a product or this data solution package software that helps people to do better sales and marketing activities inside their organization through the use of data. Again, we niched down and that’s what this video is about. It’s about picking your niche.
Thinking about a niche can really help you to grow in a more successful manner.-Tweet This!
For those of you that are watching this video that, either are thinking about starting a digital marketing agency, have a digital marketing agency that’s struggling or have a digital marketing agency that’s being successful, and you’re trying to look at the next step, let’s talk a little bit about how thinking about a niche can really help you to grow in a more successful manner.
The best niches that we see people at the beginning stage either just getting started or struggling is to think local. Think about your local market. A lot of times, in fact not a lot of times. Almost every time people underestimate the power of their local market, so we’re here in Akron, Ohio. It is, I think, the seventh largest city in the State of Ohio. I can easily say that it’s too small of a market, but it’s not. We ran a competitive analysis of the market and we found that there are 90,000 businesses within 50 miles, which does not include Cleveland proper, 19,000 businesses that are potential clients of a local marketing agency. Now, 90,000 is a ton. That’s a lifetime’s worth of opportunity if you were just to do local market, but now let’s break that up a little bit.
When it comes to geographical location, that’s what I look at first, the second part of that would be, what industries do you want to serve? Do you want to serve dentists? Do you want to serve chiropractors? Could you serve both of them because you’re lead gen in that space? Could you do lead gen for HVAC? Roofing? Contractors? They are all kind of in the same space. There’s hundreds if not thousands of those different niches that you can go into. There’s a document that floats around on the internet that you can google. It’s called “Best SEO, Local Marketing Niches.” It outlines … Some people say there’s 19, some people say there’s 50, some people say that there’s 100. You only need to pick one to really get yourself started.
There’s a geographical niche. There’s an industry niche. The other side can be a service niche. Now, you can use one, two or three of those. I see agencies that only do SEO. I see agencies that only do SEM. Even inside the SEM space, I see agencies that only do Facebook marketing. It’s okay to only pick one of those things and concentrate on it until you become the best that you can possibly be, and then look for more opportunities. We do a lot of SEO work. It’s just where I’ve been in the industry for 17 years, but you can’t hire us to do SEO. We’re not good at it. I don’t want to try to be good at it. There’s more than enough opportunity for people looking to buy our software, which leverages their opportunity from a data perspective in both sales and marketing activities, or once they get in and they look at the data, they’ll hire us to do SEO. Or help them optimize their CRM. Now, we didn’t set out to do those initial things. They are a byproduct of what we are the best in the world at. We are the best in the world at providing data solutions to people that are looking to do or improve sales and marketing activities. That can lead to additional opportunities for us to sell, but we’ve niched our self down into that specific service.
I invite you to do the same so that you can experience the highest level of success possible by focusing your energy, geographical location, industry-specific, service-specific. Pick your niche. If you need help deciding on what a good niche is for you, feel free to leave a comment below this video, call the number on the screen or reach out to me directly. I’m happy to talk to you at any time in order to help you pick your niche and help you to build a more successful marketing agency. Now, my coffee mug says, “Have a nice day.” You’re going to love the picture on the bottom. Have a great day.