Are you leaving money on the table?

//Are you leaving money on the table?

Are you leaving money on the table?

Not 1 in 100 business owners who read this email will actually follow through on what I’m about recommend.

Why?

Because although it will set you heads and shoulders above your competition… although it will put thousands of dollars in your pocket… it’s beyond the effort most business owners are willing to do.

What is it?

It’s niche marketing within your business, and if you’re not doing it you’re leaving money on the table.

What do I mean?

Well, let’s look at a few examples:

Let’s say you own a self-defense training company. Most businesses would run a very simple ad targeting the general public.

And while this approach does work, why not also sit down and make a note of your potential target niche markets:

  1. Children (for parents who want to develop their co-ordination, self esteem & confidence)
  2. Teenage boys who want to be tough and respected by their friends
  3. Women who would like to defend themselves against attack

And I’m sure there are many more. Let’s take another example of a mortgage broker. Who could they target?

  1. Because property is getting so expensive, they could offer co-buying seminars showing people how to buy properties together.
  2. They could also target first home buyers
  3. Or perhaps team up with a real estate agent and offer
    a seminar
  4. Or you could target investment property owners

Why would you go to all this effort? For a few reasons. Firstly, when you advertise like this it is more targeted, so you’ll tend to get a higher response rate than doing campaigns that are more generic.

Secondly, you may find that targeting one particular niche gets you far higher returns than targeting another.

For instance, let’s say the mortgage broker in the example above decides to advertise to 4 different groups and invests $2,000 in each campaign.

Campaign 1 generates: 2 sales
Campaign 2 generates: 3 sales
Campaign 3 generates: 0 sales
Campaign 4 generates: 6 sales

What does this knowledge tell you? It tells you that you should focus the majority of your marketing dollars on the easy money… or what I like to call the low hanging fruit. (obviously campaign no. 4 in this case)

One marketing fundamental is that the most important thing in any promotional campaign is not the copy… not the product… and not anything other than a hungry market.

If you are only advertising generically, or not tapping into particular niche markets, then you are leaving money on the table.

But what are you gonna do about it? You can start right now by grabbing a pen out of your back pocket and writing down 5 potential markets that might just hold the keys to your business treasure chest.

Source:

Scott Bywater
Copywriting That SELLS
Suite 21, Seabridge House
377 Kent Street
Sydney  NSW  2000

By |2017-03-30T08:02:12+00:00March 30th, 2017|Business Blog|Comments Off on Are you leaving money on the table?