How Going After Fewer Customers Can Make You More Money
By Intrigue
As a business owner, it’s natural to want to attract as many customers as possible. However, the truth is that targeting a broader audience can be counterproductive, as it often leads to competing on price.
Instead, by finding your niche and specializing in a particular area, you can set yourself apart from the competition and generate more revenue. Here’s how specialization can help you attract better customers and make more money.
Efficiency Leads To Better Margins
Specializing in a particular area can lead to more efficiency in your business, which can lead to better margins. When your team gets really good at understanding processes and which needs your customers have, they can provide faster turnaround times and a more streamlined process. This leads to happier clients and better margins for your business.
Knowing Your Audience
To attract the right customers, you need to know your audience. Creating an ideal client profile can help you understand your best customers’ demographics, interests, and pain points.
For example, if you were a homeowner looking for a landscaping company, which would you choose?
“We offer landscaping services for all types of properties.”
OR
“Transform your small backyard into an outdoor oasis with our expert landscaping services. We specialize in creating stunning and functional outdoor spaces in tight urban environments, so you can enjoy a beautiful yard no matter how small your space may be.”
Knowing your audience will allow you to tailor your messaging and services to their needs, which can lead to more sales.
Customer-Focused, Problem-Oriented Messaging
To stand out in a crowded market, you need to speak directly to your audience’s emotions. Instead of trying to appeal to everyone, focus on a particular problem your service can solve for your target market. By doing so, you’ll create messaging that resonates with your audience and drives more sales.
Specific Landing Pages
Creating specific landing pages for specific audiences can help to improve your conversion rates. By tailoring your messaging to your audience’s needs, you can create a more personalized experience for potential customers. This can lead to more sales and a better customer experience.
For example, you might consider including a landing page for your residential services and a separate landing page for your commercial services. The audiences for residential and commercial will have very different pain points, and if you try to generalize and speak to everyone with one page, you will be speaking to no one. Creating separate landing pages will allow you to get specific and use customer-focused, problem-oriented language.
Cohesive Messaging and Branding
Your messaging and branding should be cohesive and speak directly to your audience. This includes everything from your imagery to your wording. When choosing images, make sure that they relate to your audience’s lifestyle. That might mean not including an image with palm trees because your customer is located in Ontario, or using an image of a mature couple instead of a younger couple, to better reflect your main purchasers.
People Love To Buy, Not Be Sold
When you walk into a store and a sales associate approaches you and asks, “Can I help you find anything?”, what is your response? “No, I’m just browsing, thank you”. No one wants to feel pressured into making a purchase. Instead of selling to your customers, focus on demonstrating your expertise and knowledge in your niche. By doing so, you’ll create an environment where potential customers want to buy from you. This can lead to more sales and a better customer experience.
Create An Environment To Sell
At the end of the day, if two companies are exactly the same and offer exactly the same services, what is going to be the deciding factor between the two? Money. Niching allows you to differentiate yourself from the competition and speak directly to your audience’s needs.
If your backyard is small and you’re struggling to find a way to maximize the space and find privacy, who will you choose – a company that does beautiful work on properties of all sizes, or a company that does beautiful work and whose specific niche is maximizing space and creating privacy in small backyards?
By understanding your audience, creating specific messaging, and tailoring your services to their needs, you’ll attract the right customers and drive more sales. So, don’t be afraid to focus on a specific niche – it could be the key to growing your business.
