Niche Marketing and defining your perfect client
“When I first started my financial planning business I had a dream of being all things to all people.”
“I thought I’d be helping a carpenter on Monday with his income protection, and a doctor on Tuesday with his investment portfolio.”
“I set up a fantastic website which contained loads of articles and plenty of information on how we could help people.”
“But pretty soon reality set in – it just wasn’t happening!”
So I quickly identified that I needed to target individual niches at a micro level. To do this I set up a number of websites targeting specific occupational areas such as doctors, tradies, lawyers etc with specific information relating to those people and their individual problems that needed solving.
“The result? After a few weeks I started to get some traffic trickling though. Then after a month or two I started to get an enquiry or two each week, and within a year I was getting so many qualified leads that I had to start selling them to other advisers!”
“What I discovered is that trying to be everything to all people is fine if you have a huge existing client base, but if you’re trying to establish yourself from a small base you simply have to specialise in order to give yourself a point of difference.
“How do you do this? Well first you need determine your ideal target customer.”
Defining Your Perfect Client
Defining your perfect client should be easy. He or she would will have lots of money to invest and a burning desire to insure themselves against every risk possible!
Unfortunately these types of clients are few and far between.
Rather than defining your perfect client, we should really focus on your ideal client. Your ideal client should be someone who meets the following criteria:
Unless you have great contacts, there is no point nominating movie stars as your ideal client. You should look for clients who know are accessible to you.
Some of the best clients are those that you can really connect with. This may be through joint interests, similar age group, social and/or financial standing, ethnic background or perhaps experience in the same industry. A good example of this is the ex-carpenter who now deals exclusively with trades clients.
Interest and or Experience
This one is a little similar to the connection point listed above. If you have an interest or experience in a certain niche, this will give you a great advantage over others advisers who don’t share the same passion for the niche.
There is no point trying to attract company directors and CEOs as clients if you don’t feel comfortable with them. Your ideal client should be someone that you feel totally comfortable dealing with, as there is a good chance that they will also feel comfortable with you.
Above all, your ideal client should just ‘feel right’.
About Shane Moore….
Shane is a financial adviser, project manager and compliance analyst currently based in Brisbane. Shane offers practice management advice and other services including website design, newsletters and other marketing and sales and tools. He offers a complementary service to practice development managers with the emphasis on providing support with tasks that most practices don’t have the time or experience to do for themselves such as newsletters, website design, and sales tracking. For more information contact Shane through his website www.shanemoore.com.au