What many businesses fail to realise is that there are a lot of benefits to be had from niching down. What is niching down? It’s basically going all the way down to splitting hairs in terms of exactly what it is you want to focus on. That way, you can also better determine your target audience and sharpen your voice accordingly.
Niching Down Will Go a Long Way
Many people assume that zeroing in on a particular niche is an endpoint. In truth, it’s actually a key aspect of a marketing strategy as a whole. It’s a great way to streamline the process of reaching out to a specific client base. A formula that works well should be able to be reused with the same effectivity over and over.
If you’re already on the road to looking for the best possible client, ask these questions:
Among Your Existing Clients, Who’s the Closest to Ideal Already?
Look at the last year or at least six months of your business. Specifically, go through the clients you dealt with. Who were the ones that were great to work with? What kind of work did the engagement with them entail? How did the communication go both ways?
Make a list of the ones who really made a positive impact. If there’s a considerable amount of them, maybe make another list of qualities they all have in common.
What Will You Be Able to Do for Them?
It’s important to know what you bring to the table off the top of your head. After all, the end goal is to convince clients that you will be able to help them. Check your curated client list and think back to what you were able to do for them.
Make a list (yes, another one!) of significant milestones they were able to achieve thanks to your services. List what it is about your services that really managed to get things going in the best way possible for them.
You should also take note of their emotions. What kind of joy did they experience? How much stress were you able to take away from them? All of this is worth taking note of.
What Is the Client’s Budget?
Needless to say, it’s vital to figure out who will be able to afford whatever it is you have on offer. If your price point is high, it goes without saying that the client’s budget should be too.
When figuring out the best client possible, factor in finances. Someone with a limited budget just won’t cut it. In order to make a profit, you need to work with a client that’s willing to meet your price.
Figuring out the best possible client for a business is a very smart move more people need to do. After all, clients are the ones who bring in money. And if you’re comfortable working for and with a client, you’ll be able to perform your services better and get the most out of the partnership.
Ask questions to find the ideal client: who is the closest to it amongst existing clients? Can the client afford your services? What kind of services will they get from you? Use this guide to find the perfect client, and save precious time and energy!
In need of marketing solutions for financial advisers? Reach out to MBS! We use evidence-based, industry-leading digital marketing to help financial services businesses thrive.