TlDr;
If you want to grow faster and make more money ... focus on a niche. Make it super specific.
Example 1:
FA in Vacaville, CA decided he would only work with:
- 55+
- Divorced
- Single
- Nurse
- Women
- In Vacaville +20 miles
Once he niched down to that level, he made $1,200,000 the next year.
Michael Kitces is chiming in on niches as well.
Historically, financial advisors have worked with any and every client they could (or at least, any client who was interested in buying their company’s products or could afford to pay their fees), and in turn, advisor websites (and other marketing collateral) were developed to be appealing to anyone and everyone. The caveat, though, is that in an increasingly competitive advisor landscape, it is more and more difficult for advisors to differentiate themselves amongst a sea of sameness, leading to an increasing focus on developing niches and specializations as a way to stand out and attract ideal clients. Except for advisory firms that have already built a broad-based “generalist” clientele, creating a more focused niche offering – and updating the advisor’s website and other marketing materials accordingly – can make existing clients who may not fit the advisor’s more specialized future question their own fit with the firm today. Which raises the question: how exactly can an advisory firm start to focus more on their niche specialization of the future, without alienating existing clients in the process?
https://www.kitces.com/blog/niche-advisor-marketing-new-clients-website-microsite-practice-leader/
Here's the recording of today's Ad & Execution Strategy Call.
Today, we focused on Miguel's First-Time Offer to Family Stewards.
Here's the recording of today's Ad & Execution Strategy Call.
Today, we focused on Miguel's First-Time Offer to Family Stewards.
It’s bad when “Weird Al” Yankovic is mocking you. Or even worse when he writes a song mocking your mission statement.
Spend three minutes and 25 seconds watching Amish Paradise on YouTube and you’ll never listen to Coolio’s Gangsta’s Paradise the same again.
Then scroll down “Weird Al”’s hits until you find Mission Statement. Yes, he went there …
You thought the blade of “Weird Al”’s whit was reserved for recording artists. But he shreds corporate mission statements like a samurai delicatessen carves a stack of cold cuts. Is this scorn and derision deserved?
Watch the video and judge for yourself.
Most mission statements fit like a prom tuxedo. They seem suave and debonair at the time. But years later your kids will probably mock you over it.
Skip the future mocking and do something radical. Drop the corporate mumbo jumbo and speak from the heart. Make a soulful statement that fits only your business and none other. As Simon says, start with your “WHY.”...
It's counterintuitive, but you'll get the most clients and customers by pursuing a narrow niche.
The goal isn't alway volume. I'd say it's size and quality.
I believe the way you bait your hook determines the kind of fish you catch. But first, you need to determine the type of fish you want to catch.
In this example, I'll show how a business was able to refine their messaging by narrowing their focus on their ideal client.
