Where Marketing and Sales Intersect
All marketing experts agree that business people must narrowly define their niche market. The more specific you can be, the more likely your intended audience will buy.
People new in business believe everyone can use their service and product. However, upon careful analysis, they gradually understand that the broad approach actually reduces the sales volume. Have you ever been persuaded to try a new venue just outside of your core competency? It’s almost a guarantee to be a disaster. The following problems present themselves:
1. Those outside your target area do not understand your entire offering
2. You are not familiar enough with their vocabulary to motivate into action
3. The benefits of doing business with you become blurred
This is the point where sales and marketing intersect. To be able to sell, you must be able to identify what is of most importance to your audience, what their pain points are, and how you can solve their problems. When you wander from your core audience, a lack of understanding is evident on both sides and sales are severely halted.
Here are a few questions to consider: Can you succinctly describe your niche market or who is your preferred clientele? Are you clear who you can and cannot easily help? Are you consistent in remaining true to your preferred audience? If you have ever strayed, you will understand the importance of these questions.
My Story:
When I first began my business, a marketing pro endlessly quizzed me about my expertise and the type of clients I prefer. She hammered the point that while almost everyone can improve their selling skills, I would work best with entrepreneurs, network marketers and beginning salespeople who have only 0-5 years experience in business or a sales career. This narrowly defined niche market is easy to express when networking and helps me to remain on track when seeking new business. However, even the sales pro will err from time to time. I am guilty of having recently wandered from my core market.
I spoke to a group of people who are not in direct sales but need to sell themselves to the executive level. The talk was very straight forward and easy to prepare. Selling one’s ideas is the same process as selling a product or service to a client. I was able to convey the information they needed and appreciation was expressed.
However, this appreciative audience saw no need for further services, because they are neither entrepreneurs nor sales professionals. On some levels, you might say it was a waste of time. Altruistically, I’m glad many found the information I shared helpful. I did, however, re-learn the lesson to not stray from my niche in the future. Just the opposite proved to be true last weekend at a convention where I attended as a vendor. The attendees were people either just beginning a business or in their first couple of years of being in business and were looking for ways to grow their venture more quickly.
The event was the most exciting I ever attended as a vendor because I was surrounded by attendees who were in need of my products and services. I found my niche market.
