How to Dominate a Niche Ginevra Figg

How to Dominate a Niche

Ginevra Figg

The SMB Market

• An untapped goldmine– 25 million+ small businesses– Reliance on outside vendors– A lot of money moving around

The SMB Market

• Presents a number of unique challenges including: – How to reach such a vast market

The SMB Market

• Presents a number of unique challenges including: – How to reach such a vast market– How to start from scratch with no list

The SMB Market

• Presents a number of unique challenges including: – How to reach such a vast market– How to start from scratch with no list – The economics of a sales team don’t add up

The SMB Market

• Presents a number of unique challenges including: – How to reach such a vast market– How to start from scratch with no list – The economics of a sales team don’t add up– Difficult to afford big budget strategies

The Solution

• Tapping into existing channels & aggregators– #1 way to avoid issues with SMB market– Kutenda 0 1,000 clients– STUPID SIMPLE!

Channels & Aggregators

• What are they?

Places where your target audience (SMBs) have already gathered, or been gathered by someone else

Channels & Aggregators

• Why are they important?– Cost– Time– Credibility

Channels & Aggregators

• What are they?– Associations

Channels & Aggregators

• What are they?– Associations – Websites & Forums

Channels & Aggregators

• What are they?– Associations – Websites & Forums– Offline Events & Conferences

Channels & Aggregators

• What are they?– Associations – Websites & Forums– Offline Events & Conferences– Market Colleagues (Not direct competitors)

This is your biggest opportunity!!!

Channels & Aggregators

Key point: People aggregate according to industry.

Channels & Aggregators

Key takeaway: You must break down your audience and

focus on certain niches in order to see success with this strategy.

Channels & Aggregators

• Examples of these relationships:

Channels & Aggregators

• Examples of these relationships:

Channels & Aggregators

• Examples of these relationships:

Channels & Aggregators

• Kutenda– Tradeshows

Channels & Aggregators

• Kutenda– Tradeshows– Press Websites

Channels & Aggregators

• Kutenda– Tradeshows– Press Websites– Major Software Vendors (Market colleagues)

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6 Steps Before Getting Started With Channels & Aggregators

6 Steps to Getting Started

• Step 1: Segment– Which niche most resonates with your offer?– Which niche has a problem your offer can solve?– Which niche consists of responsive buyers?

6 Steps to Getting Started

• Step 2: Focus exclusively on your niche– Targeted messaging– Tailored offer

6 Steps to Getting Started

• Step 3: Research your niche’s habits– What resources do they use to function?– What resources do they use to grow?– Where do they go to learn?– Where do they gather to have fun?

Overall: Who currently communicates with them?

6 Steps to Getting Started

• Step 4: Make a list of friends in the right places

6 Steps to Getting Started

• Step 5: Understand the channel’s goals

6 Steps to Getting Started

• Step 6: Be of service– Provide uniqueness to their offer– Offer a solution to a problem – Improve relationships between the channel and

their customers

How to Lay the Relationship Groundwork

Relationship groundwork

• Take a personalized approach

Relationship groundwork

• Take a personalized approach• Look for the right title

Relationship groundwork

• Take a personalized approach• Look for the right title• Be willing to spend time and money

Relationship groundwork

• Take a personalized approach• Look for the right title• Be willing to spend time and money• Be patient: This can take time to work!

Relationship groundwork

• Take a personalized approach• Look for the right title• Be willing to spend time and money• Be patient: This can take time to work!• Suggest an opportunity to add value

Early daysvs.

Once you’re established

Early days

• Get clear on your customer• Locate channels• Establish relationships with channels• Spend the $$$ - Invest• Educate, educate, educate

Once you’re established

• Cut back on the expensive marketing• Nurture your list• Provide low end offers via email• Leverage your team for up-sells/cross-sells

(More on this next…)

Industry Focus+

Leveraging Channels=

FAST & INEXPENSIVE DISTRIBUTION

Leveraging Channels

• Key strategy:– Educate/provide value to their audience (without selling)– The goal: Growing your list of prospects

Leveraging Channels

• Fastest way to accomplish this:– Pick a topic of value– Set of content – Opt-in sequence– Promotional sequence– Repurpose everywhere!

Leveraging Channels

• Webinars:– Structured promotion

• Dual outreach• 4-touch email series• Social media• Services team (signatures, phone calls, etc.)• Press releases (yes, this is news worthy!)• Direct press outreach

The Follow Up Process

The Chase Formula

The Chase Formula

• What is it?– Fill gap between marketing and sales– A scientifically proven prospecting system that

you can use to find new clients. • Three parts working together

- Power Messaging- Six Prospecting Power Boosters- Frequency

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Questions?

THIS WEEK ONLY:

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