There are riches in niches.
When you are cold call prospecting, the biggest riches are often in the sons of niches.
You can boil down using the phone to prospect and set appointments as a giant sorting process. You constantly shuffle the deck of your suspect lead list by criteria such as who is buying, who will buy the most, current vendor relationships, contract or policy renewal dates and more.
In the universe of all that you could call to meet with, only a niche in that universe is deserving of any of your time or marketing money.
Once you start calling, assuming you do so methodically and with a plan, the “real” money is found within “niches of your niche.”
As you call, you will identify the Mega-buyers, those that closely fit your profile of an “A” client, those that will buy soon, those that will product/service offering A rather than B.
Assuming you are calling with a bigger picture plan in mind, those are the kind of “sons of niches” you will discover.
Now, if you are just calling, winging it as you go, not planning out the words you will use because you think being prepared is going to make you “too salesy,” you are doing all the work and making all the calls yet not discovering the “sons of niches.”
Which means that you don’t get to allocate more of your time to those who will buy the most. You will call fewer people at the time they are most likely to buy because… you don’t have that info. Why not? You did the work and made the calls. Why don’t you have the info?
Cold calling isn’t the only reason you want to identify sons of niches. When you do, you can implement other marketing tactics that would not otherwise return you enough revenue. But when you are marketing to sons of niches, marketing techniques that bomb to a wide audience are profit faucets when focused on sub-niches.
You can take the mega-buyers and market to them very differently than the rest.
You market to those that you know have contracts or renewal periods coming up in 3 months differently than the rest.
You approach those that you know only need service/product A differently than the rest.
You made the same calls yet get a very different revenue result, not just because you were prepared to discover the sub-niches, but because you are also prepared to act on the information once you have it.
Before you make any calls, I encourage you to ask this question. If I had called 500 companies, what information do I wish I had?
Write it down and in your call process ask the questions and use techniques that will extract that information for you. You are making the calls anyway, get all you can with them.
When you do, with no extra work you identify the sons of niches that will become your profit faucet.
