What’s in a Niche?

Do people have a hard time finding you, your product or service? Do people really understand what you provide or what makes you special in your market? I share with my clients that being all things to all people is probably not the best way to build a business, I use the term, “an inch wide and mile deep” is the best way to build a niche and your business. Here are 3 tips to help you focus in on the best niche.

Tip #1Research your competition. You’ve settled on a product or service to a specific target market now you need to research to see what the competition is doing? How many others are out there in your same market, it can be anywhere from a few to many.

What's in a Niche?

Tip #2 What’s unique about your product or service? Now that you’ve completed the research, how can you work to set yourself apart from others that are providing the same or similar product or service? What can you do differently that’s makes you the expert in your field?

Tip #3 Relevance to your audience, why is this important to them? What’s in it for them? How will your product or service solve their problem or make their lives better by saving time or money?

Having a Niche in the market that creates awareness and is easy for people to find you, understand what you have to offer and what’s in it for them are key ingredients to creating a niche that build a business.

Are You Still Chasing Prospects?

Do you love chasing prospects? Probably not, most people hate having to chase after prospects hoping they will buy a product or service. So how do we stop the chase? Start with these 3 questions which we call the decision process steps.

1) Does the client recognize there is a problem?
Recognition is the first step in understand the problem or challenge and recognizing the result is not changing. If the Prospect doesn’t think there is a problem you can stop right there.

2) Is the problem causing them pain, financial or personal?
Determining the extent of the discomfort, are they losing money, customers or both. Identifying exactly what the problem is costing them leads into the, “Is there a budget for solving the challenge?”

3) Is it a priority for them to fix?
Identifying where the problem is on the priority scale for them. I use the scale of 1-10, 1 meaning no problem at all to a 10 meaning, we can’t go another day with this problem which means they are ready for change and could be open to your product or service if it solves the challenge.

Using these 3 questions will help to uncover if your prospect is ready or open to your solution. These questions will allow you to stop chasing and focus on the prospects that are ready for you!

Being Strategic in 2012

In 2011 my word was visibility.  Letting others know what I did and how I could help them in their businesses.

In 2012 my word is Strategic.  What does being strategic really mean? According to Webster’s strategy is “A carefully devised plan of action to achieve a goal or the art of developing or carrying out such a plan”.   For me, strategic means creating a plan with a purpose that brings success.   This plan helps me to stay on track every day, every month, every quarter.   The plans allow to me know exactly the most important things that need to be accomplished in order for the strategy to be successful.

Being Strategic in 2012

Creating a strategic plan to some can be overwhelming, it doesn’t have to be.  The plan allows you to see where you are, what you’ve been able to accomplish and where you want to go.

Ways to think strategically

 I’ve had the good fortune of working with some amazing thinkers in the career and here are some tips that can help you think more purposefully.

Who and what else are connected to this decision? How will this affect them? I like this question because it forces you to think through the implications of your decisions early. It’s easy to sit back and say “let’s change our distribution model” or “let’s move to new software program!” but being able to accurately predict and describe the challenges of plan of action will help guide you to the best choice.

Ask the Five Why’s; this sounds like a something out of a science fiction movie, but the Five Why’s are real. Five Why’s is a B-school/consulting method that says if you ask “why” at least 5 times you can get to the root of the problem. It’s all about digging deeper.  Understanding why you are doing something or providing a product or service works to give you a motivator for your strategic plan.

 

About Gina Kaelin-Westcott

Gina is a Certified Executive Sales Coach. Gina is a dynamic, accomplished sales management leader with a 20+ year record of achievement. She is an exceptional mentor and coach and remarkable in building new business and forging strong lasting relationships with clients and business partners at every level.

Gina Kaelin-Westcott was named the 2010 VIP Professional Woman of the Year by the National Association of Professional Women and is the Best Selling Author of “Creating a Bond Beyond the Handshake, 100 Reasons Why Relationships and Value Sell Every Time!”

Gina can be reached at Gina@Connectingselling.com or 303.949.0882   or   Website www.ConnectSelling.com

 

 

A Great Stocking Stuffer

Need a little something for the stocking?  Give them copy of  Creating a Bond Beyond the Handshake, 100 Reasons why Relationships and Value are what Sell Every Time!  Creating a Bond Beyond the Handshake

For anyone that is in business or sales this provides over 100 ways to build a better relationships that can last a lifetime!

There is still time to get your copies before Christmas, 1 for $20, 2 copies for $30 or 3 copies for $42.  Just message me here!

The Power of Thank You!

The quickest and one of the most powerful way to strengthen a relationship is to send a personal hand written note after an initial meeting, receiving a referral or just to say thank you.  

We move in a world filled with emails, text messages, media and advertising with so much information coming at us we have become very selective about what we choose to read and take notice of.

People still long to see a handwritten note show up in their mailbox, they love what it represents.  The connection, thought and caring that goes into a handwritten note and for just a few cents you can make a huge difference in someone’s day by sending a handwritten note.

Keep a stack of blank cards with your company logo on the front and send off notes every day.  After you’ve met with someone send them a note the following day.  This activity takes about 10-15 minutes a day and can make a lasting impression on the recipient.   Just imagine if you could send 3 notes a day, 15 notes a week or 60 notes a month that will make a meaningful impression on your clients.

Make sure when sending a note to make it personal and mention something that resonates with their needs, challenges, desires and or family.   The notes don’t have to be lengthy just a couple of sentences to thank them for the referral or to invite them for lunch or coffee.  I still have notes that people have sent me from many years ago, because they were personal and resonated with me.  Taking a few minutes every day to send your handwritten personal notes that will make a memorable impression is just one step in building a referral business.

Never underestimate the power of the personal note it could be just what someone may need that day.

Right Questions Lead You to the Problem

When you meet with your clients are you creating more problems by being unprepared and not paying attention, or are you working to solve your client’s business challenges? So how do you know if you can solve their business problems?

Make sure you are asking the right questions by asking them what is important to them. What are their current projects and challenges that are associated with these projects. What are your client’s motivations for these projects? By listening at a higher level you can then start to determine how your offerings can begin to solve the problem at hand and work to satisfy the motivation for your clients.

Can you customize your offerings to better solve you client’s challenges? If so determine how you can bring this to your clients, outline the benefits specific to your client. The message needs to be tailored to your customer’s situation, not a cookie cutter approach.
Your customer will become a raving fan if you solve their business challenge with unique approach customized for them.

3 Helpful Tips

1) Be Prepared for your Clients

Always be prepared for your client meetings with an agenda and desired outcome for your client.

2) Ask the Open-Ended Questions

Find out what they are working on, what type of challenges are they encountering, and what are the motivations they operate under, why is this important to them.

3) Customize the Solutions if Possible

Based on the conversations you have with your clients, can you customize your solutions to better fit their business challenge, if so outline a benefits statement that solves the problem and motivation for your client.

The measure of success is not whether you have a tough problem to deal with, but whether it is the same problem you had last year.” — John Foster Dulles / Former Secretary of State

Do You Have a Vision?

Often times when you start out with an idea we get so caught up in the excitement that we don’t see clearly the overall vision of where we want to be. Where are you now, what’s working or not working for you? Is your business growing or struggling? Is your personal life thriving? Do you take the time to think about where you want to be in a few months or even a year from now? Do you ask yourself why it’s important to you? Most of us don’t truly understand what the underlying reason is for why we do things. If you ask yourself why something is important to you at least 5 times or more, now you start to see the motivation for why something is important to you. Are your actions in alignment with your vision? If it’s important and in sync with your vision you will know it’s right on, you can feel the excitment, joy and fulfillment and so will others.

One Pager – A Conversation Starter

Having a one page brochure or post card that you can use as a conversation starter with your clients, will allow them to see what you offer.   Having this information with you and available to prospects creates instant conversation around some of the prospects challenges.   Instead of prospects or clients having to dig through your website to find out what you do, you can simplify the process and discussion with a one pager.    Critical components of a one pager include your logo, tag-line and contact information.   Also include in a bulleted format what you offer, group these into large categories, so you end up 3 or 4 at the most.  You don’t want to put everything on the card, just enough to peak the interest and get the conversation going.  The next important piece is the Results from working with you, what will they experience by working with you, talk about the transformation and use descriptive words that grab attention.  Now add in your picture and short paragraph about why you are the expert in your field.  Finally create a call to action what do you want prospects to do, call for an appointment or a free consultation?  Creating a one pager that you can use with clients and prospects will help to start your conversations and make it easy for your clients to get to know you better.