When I first started selling promotional products years ago, I though every client was a good client for me. But it wasn’t until I decided to focus my energies on a niche market – healthcare – that my business really took off. So much so, that my healthcare clients helped my company to make the Top 100 Fastest Growing Company List in the Philadelphia Business Journal and my business doubled the first year that I concentrated on this market and then tripled the following year.
When my coaching clients ask me about a lucrative niche market, I always recommend healthcare. The market is growing rapidly no matter where you’re located.
I’m a big believer in niche marketing, and the healthcare sector is a great place to start. Having niche doesn’t mean you can’t sell outside of that niche; it just means this is where you will focus the majority of your efforts and establish your expertise. Why is healthcare such a great niche? Opportunities are everywhere!
Here are eight great reasons why the healthcare sector can be a cash cow for you.
1) You Already Have Connections. Most likely you have a doctor, dentist, or other health care professional that you visit on a regular basis. They know you and have a relationship with you. Those practitioners are perfect prospects for buying promotional products. Even if they are not the purchaser for the practice, chances are they can give you an introduction to the person who takes care of the marketing.
2) The Wellness Market. The wellness market is estimated at hundreds of billions of dollars and growing. As healthcare costs continue to escalate companies large and small are looking for ways to keep their employees healthy. Helping them to set up a wellness incentive program is a sure-fire way to cut insurance costs.
3) Aging Baby Boomers: Statistics show that, on average, 10,000 baby boomers reach age 65 every day and that will continue for years to come. As the population ages, more and more health care services will be needed. Promotional products are a great, cost-effective way to promote to this burgeoning market.
4) Assisted Living Communities Assisted living communities are springing up everywhere and the competition is fierce. Because the populations can turn over quickly in these communities they are always in need of new ways to promote their facilities and once you get your foot in the door re-orders result.
5) Numerous Vertical Markets Healthcare is an enormous market with many sub markets or vertical market segments. You can become an expert in a niche within a niche. For example, an Assisted Living marketing expert within the health care sector. What you need is a thorough understanding of the challenges of your sub market and how you can help solve those challenges using appropriate promotional vehicles.
6) Online Healthcare These days doctors don’t need to make house calls to diagnose illness. Technology has changed the landscape. As more and more online health care services spring up, they will need your help promoting them.
7) Home Healthcare Many seniors don’t want to leave their home or can’t afford to leave. Home health care agencies are a good solution. The market is enormous and they all need to promote their services.
8) Health Insurers This is a highly competitive market and growing. Orders can be very large and repeat frequently.
These are just a small sampling of the reasons this is such a great market. There are many more! Now that you know why health care is such a great niche, I would like to share with you how you can increase your sales in this lucrative sector and get a bigger piece of the pie. I invite you to attend a FREE Webinar on Secrets to Selling to the #1 Promo Market… Health Care on Tuesday May 17 at 1 p.m. ET.
Everyone who registers will receive a free Ace Your Sales Cheat Sheet and hundreds in discounts from suppliers you know and love. Learn more here (https://attendee.gotowebinar.com/register/6196289356416152835).
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. Get 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 or (215) 572-6766.