I don’t have to tell you how competitive the promotional products business is these days; that’s why concentrating your selling efforts on a niche market or markets is a key strategy for being successful in our ever-evolving industry.
I believe that, as the saying goes, “You can’t be all things to all people,” BUT you can be a star in your niche market. Niche marketing allows you to stand out in a competitive field and not be just another promotional products company.
I’m a huge believer in niche marketing, that’s why as a business coach I only work with people in the promotional products industry, I teach them strategies to sell smarter and make more money with less time and effort. Part of that is helping them identify ideal and profitable niche markets (that speak to their strengths, skills and passions) – then show them how to become the go-to person in those markets.
Why should you develop niche market expertise?
Whether you’re new or established in the promotional products industry, you may have noticed that things are shifting dramatically in our industry. Many of the traditional ways of selling promotional products are no longer working. In fact, many have become obsolete. To prosper in promotional products sales today, you need to work differently. You need to position yourself as an expert, target your marketing and be invaluable. You need to position your company as the market leader in your niche and position yourself as the go-to person in that niche.
You may fear having a niche market will limit your business. Actually, quite the opposite is true. When you establish niche market expertise, you’ll get more referrals, your reputation will grow and clients will seek you out. As an added benefit, you’ll enjoy your work more!
There are many ways to establish a niche. You can create a niche by the industries you serve (healthcare, education, finance) the products you most enjoy selling (apparel, writing instruments) or the services you provide (company stores etc.) – and these are just the tip of the iceberg when it comes to niche marketing!
One thing to keep in mind: having a niche or niche markets does not mean you can’t sell outside of that market. It just means this is where you will concentrate the majority of your marketing efforts.
In my own promotional products business, the year I decided to concentrate my efforts on a lucrative niche market – healthcare – my sales doubled and continued to grow rapidly. Shortly thereafter, my company made the “100 Fastest Growing Companies” list in the Philadelphia Business Journal and I had clients seeking me out for my expertise.
The same niche marketing strategy I used to grow my own promotional products business, I have been able to share with many of my coaching clients who achieved equally great results.
Remember: the more expertise you have in your niche, the more opportunities will become available to you and that translates into
more business and better business for your company.
I’ll be presenting a free webinar, “How to Cash in on a Profitable Niche Market,” later this month. If you would like to get on my mailing list for a complimentary invitation to attend, or if you have questions about niche marketing, please contact me at
Rosalie@promobizcoach.com.
Here’s to your niche marketing success!
Rosalie Marcus, The Promo Biz Coach, is a promotional products business expert, coach and speaker. Combining her skills and years of experience in promotional sales, she helps her clients sell more at higher profit margins and dramatically increase their incomes. Download a FREE Special Report 10 Proven Ways to Thrive in Promotional Products Sales… In Any Economy at www.PromoBizCoach.com – Reach her at Rosalie@promobizcoach.com.