Our new blog posting: Is niche marketing a good idea? How do you create and develop your own niche and where do you start?
I believe in specialization. In your business plans for 2013, find three things you want ot specialize in and work the majority of your time on those segments. Are you a former teacher? Work that angle. Are you active with youth?
What is it you do, what is it you love? Figure it out and incorporate that into your business...
I think niche marketing is the key. People like to deal with someone they consider to be an expert, and niche marketing helps us stand out. Otherwise, one is just throwing spagetti on the wall, seeing what sticks.
I think it's the key as well. Buffini has some really good training lessons but I think the issue is just one of numbers. There is only one of you...and millions of other things!
Some of the best I've seen in business niche market themselves... if they grow a team around themselves, the others also do the same thing in different niches. Then, all of a sudden, you have a team of sales people covering all bases.
I much prefer that method!
I wholeheartedly agree I have had 10 different niches in 17 years as the market changes so does my niche.
Amen to that! It's all about your market and those who are really smart know how to move dependent upon their environment...
In the link for the blog posting I talk about the idea of possibly choosing 3 total niches for your business. It will give you some variety and, if the market does change, you only have to change one or two of your focuses and not your entire strategy.
What does everyone else focus on? What are your specific niches?
Hi Joshua,
I try and focus on technology. One niche I want to focus on is my experience with teaching Computer, Accounting, and Business Policy classes. My best niche is (1) automating processes. (2) Website design and development is another thing I enjoy doing. (3) I love to teach.
I coined a website Webs2013 about a month or so ago to be the future home of the workshop and training schedules I plan to offer to use my niche to reach out and meet new people.
Excellent point.
As consumers have more access to information, they are demanding more competence from those they choose to do business with. Doctors specialize... attorneys specialize... while most agents still try to be a jack of all trades.
It apparently is difficult for agents to accept change which is why the whole real estate industry thinks that they all have to list property, do mortgages, manage rentals, sell Home Warranties, and keep their finger in every piece of the pie so they do not miss a crumb. A niche is not 3 or 10 specialties...it is being a master of one.
I became an "exclusive buyers agent" pioneer in 1991. At the time it was a hostile environment where we were not allowed us to show properties, present offers, advertise in real estate publications, or sit on any committees. We had rocks thrown though our office, while other EBA's offices were broken into, had files stolen, and even had an office fire bombed.
Many EBA's could not take the heat and got out of the business. We made a decision to stay because "Buyer Agency" made sense to us and we believed in it...and we were good at it. Today we are in a class of our own with no real competition but it took time, effort and dedication that most would not bother with for the same reason that 20% of the agents do 80% of the real estate business.
I believe that the "riches is in the niches".
I once met the "condo queen" who specialized ONLY in condo's. It was a pleasure to do business with her because there was nothing about condo's that she did not know. She was so busy, she was turning down business. She had mastered her niche.
Very few dare to create their own path...
Eve in Orlando
Joshua, my niche is Franklin TN. I know that many don't think of this as a niche but agents here work a 9 county area so working one community is a niche.
Joshua,
Good points. If you stay too general, you run the risk of never being chosen.
Brian
I always believed in niche marketing especially in Real Estate. If you can offer advice and direction and a specific subject, most consumers won't see you as anything more than a sales person, niches is where it is at.
Timely post, Joshua - as I discuss my 2013 strategy for a successful year with my accountablity partner tomorrow. Niche marketing plays a major role in my business.
I appreciate all of the comments everyone! One of the things I train agents in is to utilize their strengths/loves to help gain credibility in what it is they sell. This is exactly what niche marketing is!
Keep it up everyone! 2013 could be...COULD be a great year if we all work together, share ideas, and raise the level of professionalism.
Joshua Desha
Business Consultant
512-230-8222
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Joshua,
You are so right as I'm working my niche plan for the coming year.
Good morning Joshua - It's certainly easier to work a niche than to market to everybody!
Joshua, I think niche marketing works. It's hard to be a jack of all trades and be successful at it.
Marketing has lots of designs in real estate, in anything going after more impressions, a large chunk of the audience. How to reach the eyeballs, eardrums and catch the attention of any group means starting by what is my target in that audience. With media now, so easy to promote but more options, streams to harness. The days of one real estate ad in a large out of state paper and wait are over. Video is one huge advantage for lots of reasons to reach an audience beyond local that fears the drive. You can removed the obstacle.
Andrew,
YES! Video is a huge deal. I teach a "how to utilize video" class and it's a great marketing tool...
Thank you or sharing the "Niche Love"! Its great to see agents who "get it" and understand the power of niche'ing. Keep up the good work.
The Niche Agent
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