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Casual Articles - 6 Steps to Expand Your Prospect Base Through Niche Marketing
You’ve found the lamp, you’ve made your wish and you are waiting excitedly for the genie to appear and you wait… and you wait and yet… - nothing.You’ve left the corporate world and discovered the joys of being your own boss.You’ve decided to be a consultant and make your fortune by offering your years of experience and great range of skills to anyone with a pulse.You’ve told a few friends and family about what you are doing and have even been to few meetings with past colleagues and business acquaintances and handed round your business cardYou’re now waiting for the phone to ring, you’ve even checked it’s plugged in and the telephone mast is still standing – nothing, not a peep.This lamp isn’t working. Where’s that genie?I call this a wishful thinking strategy.Some Independent Business Consultants (IBC) whether they be in marketing, sales, IT or HR, assume that just by talking to people, just by having a website or just by having a glossy brochure they will automatically get clients. And it’s this assum
Perhaps the easiest method of choosing a niche is to review your client list and look for groups of people in the same occupation or subculture groups. The beauty of this method is that the niche you choose has already proven
Many companies encourage customer loyalty with discounts and other gifts. These may be appreciated, but it can also become expensive and expected.Here’s another idea that will make your customers happy and also boost your business.Send your existing customers a free coupon for some of your products or your service. But make this voucher valid only when signed by your current customer, and redeemable only by someone who is not (yet) your customer.What does this accomplish?Your existing customer gets a valuable gift to share with someone else. Your new customer gets a gift from someone they respect, and a valuable introduction to you. You do something nice for existing customers, get a brand new customer, and find out which of your current customers will help your business grow.This simple approach spreads good value and goodwill for everyone. Key Learning Point -------------------------------------------------------------------------------- Giving a `free gift' to your existing customers may be
Your Solution: Find out how to narrow your marketing focus. The result is a more effective use of your precious marketing dollars and a much higher prospect to client conversion rate for your mortgage business called Niche Marketing.
Why Niche Marketing?
Niche marketing allocates a smaller portion of your marketing budget on building a list of likely prospects and then investing the rest on converting those prospects into clients. The result is a more effective use of your precious marketing dollars and a much higher prospect to client conversion rate. The end result is a significant increase in referrals.
By definition, niche marketing is narrowing your marketing efforts to a group(s) of prospects that have a high likelihood of being interested in purchasing your product or service.
Basically, there are three types of niches, (1) business occupations such as revenue property owners or general contractors and (2) "sub-cultures" such as people who love to play golf or people who love their Harley Davidson motorcycle and, finally, (3) credit scores such as A, B or C business.
Once you come to intimately know the niches you've selected to market to, your ability to convert prospects into clients becomes infinitely easier.
Your 6 Step Niche Marketing Program
Setting up your own mortgage niche marketing program is simple using the following six step process. Each step in the process is important to the ultimate success of your niche marketing program. There are no shortcuts to niche marketing success.
Step 1 - Choose a Niche
When choosing a profitable niche to market to make sure that it's one that you can easily contact by mail. A good choice would be a niche in which mailing lists are readily available. If at all possible, your niche should be one that communicates amongst itself through community groups or events. It helps if your niche suffers from problems that a mortgage professional can solve. Lastly, ensure that your niche has the money to purchase a home.
Perhaps the easiest method of choosing a niche is to review your client list and look for groups of people in the same occupation or subculture groups. The beauty of this method is that the niche you choose has already proven
More than likely, you have seen a banner ad or two (million) if you have spend any amount of time online. You know what they are: those rectangular ads that appear all over the web, touting businesses of all kinds. The basic idea is that these ads – like something akin to real-world billboards – are designed to catch your attention. Your part in all of this is to click on them, which will bring you to the advertiser’s website where you will (theoretically) buy whatever it is they are peddling.At its base level, a banner ad is a specialized kind of hypertext link, wherein a piece of HTML code directs a web browser to open up a specified web page when a user clicks on it. Instead of a traditional link that uses text as an indication of where to click, a banner ad uses a graphic or an animation.Much like traditional print ads, banner ads can take many different forms. Some contain only one image (in the form of a JPEG or GIF image) while others are animated, displaying a succession of graphics one after another. Some use audio or vid
Why Niche Marketing?
Niche marketing allocates a smaller portion of your marketing budget on building a list of likely prospects and then investing the rest on converting those prospects into clients. The result is a more effective use of your precious marketing dollars and a much higher prospect to client conversion rate. The end result is a significant increase in referrals.
By definition, niche marketing is narrowing your marketing efforts to a group(s) of prospects that have a high likelihood of being interested in purchasing your product or service.
Basically, there are three types of niches, (1) business occupations such as revenue property owners or general contractors and (2) "sub-cultures" such as people who love to play golf or people who love their Harley Davidson motorcycle and, finally, (3) credit scores such as A, B or C business.
Once you come to intimately know the niches you've selected to market to, your ability to convert prospects into clients becomes infinitely easier.
Your 6 Step Niche Marketing Program
Setting up your own mortgage niche marketing program is simple using the following six step process. Each step in the process is important to the ultimate success of your niche marketing program. There are no shortcuts to niche marketing success.
Step 1 - Choose a Niche
When choosing a profitable niche to market to make sure that it's one that you can easily contact by mail. A good choice would be a niche in which mailing lists are readily available. If at all possible, your niche should be one that communicates amongst itself through community groups or events. It helps if your niche suffers from problems that a mortgage professional can solve. Lastly, ensure that your niche has the money to purchase a home.
Perhaps the easiest method of choosing a niche is to review your client list and look for groups of people in the same occupation or subculture groups. The beauty of this method is that the niche you choose has already proven
Make a habit of always having cards with you so that you are always ready to hand them out when necessary. You need to think of ways that you can distribute your cards, without annoying people or invading their space. Frequent busy areas around your premises like shopping malls and car parks and hand them out to passers by.Networking with business cards is a good way of building up a directory of companies that you could possibly do business with later on. When you attend social or business meetings, or any type of workshop or industrial shows, remember to take your cards with you. You can hand them out to the exhibitors and visitors and acquaint your self with them. At the same time you can receive their cards in return and start building up a mini directory of your own of people that you could possibly do business with in the future.Never forget that you have to advertise your business. Whenever you find yourself at an airport or bus or railway station, distribute your cards to your fellow passengers. Be ready for any questions
Basically, there are three types of niches, (1) business occupations such as revenue property owners or general contractors and (2) "sub-cultures" such as people who love to play golf or people who love their Harley Davidson motorcycle and, finally, (3) credit scores such as A, B or C business.
Once you come to intimately know the niches you've selected to market to, your ability to convert prospects into clients becomes infinitely easier.
Your 6 Step Niche Marketing Program
Setting up your own mortgage niche marketing program is simple using the following six step process. Each step in the process is important to the ultimate success of your niche marketing program. There are no shortcuts to niche marketing success.
Step 1 - Choose a Niche
When choosing a profitable niche to market to make sure that it's one that you can easily contact by mail. A good choice would be a niche in which mailing lists are readily available. If at all possible, your niche should be one that communicates amongst itself through community groups or events. It helps if your niche suffers from problems that a mortgage professional can solve. Lastly, ensure that your niche has the money to purchase a home.
Perhaps the easiest method of choosing a niche is to review your client list and look for groups of people in the same occupation or subculture groups. The beauty of this method is that the niche you choose has already proven
Before meeting my soon-to-be-wife for the first time, I “Googled” her. Google, with its amazing alacrity, turned up several documents in less than a second.It turned up a paper she had written for a medical journal. It displayed her dissertation. Iteven showed me an article she had written for her college newspaper.A lot of our personal information is on the web. It’s a legitimate concern.So it was understandable when a CEO became irate when a snarky website published all of his personal information it could find – including home address and financial worth – just by going to Google. Sure, it was publicly available information, the CEO acknowledged, but that story was just beyond the pale.The CEO was so furious, in fact, he ordered his staff not to grant interviews to the news organization, CNet, for an entire year. His choice to “blackball” a website with more than 23 million visitors per month for a full year was a serious one, but one he believed was the right thing to do.Only one problem. The CEO in question is E
Your 6 Step Niche Marketing Program
Setting up your own mortgage niche marketing program is simple using the following six step process. Each step in the process is important to the ultimate success of your niche marketing program. There are no shortcuts to niche marketing success.
Step 1 - Choose a Niche
When choosing a profitable niche to market to make sure that it's one that you can easily contact by mail. A good choice would be a niche in which mailing lists are readily available. If at all possible, your niche should be one that communicates amongst itself through community groups or events. It helps if your niche suffers from problems that a mortgage professional can solve. Lastly, ensure that your niche has the money to purchase a home.
Perhaps the easiest method of choosing a niche is to review your client list and look for groups of people in the same occupation or subculture groups. The beauty of this method is that the niche you choose has already proven
The average consumer is confronted with over 36,000 commercial messages per day. Decision makers face even more options. All available space is being bought up and sold as advertising space. Advertising exposure is increasing exponentially, and this naturally affects your cost of sales and therefore your margins. It now costs three times more to get just half the results you used to get. What to do?You have two choices. You can work harder, which is tactical, short-term and comprised of reactive, daily activities. Or you can work smarter, which is strategic, based on a long-range plan and objective. Your strategy should drive your tactics, not vice-versa. Strategists understand the big picture they’re creating. They agree with Michael Gerber, who said, “If you’re not working ON your business, you’ll soon be OUT of business.” So they create strategies that minimize cost and risk and maximize efficiency.Statistically, motorists slow down when they see a police car to avoid a speeding ticket. Did you know they speed up again within only h
Perhaps the easiest method of choosing a niche is to review your client list and look for groups of people in the same occupation or subculture groups. The beauty of this method is that the niche you choose has already proven that they want a mortgage.
Potential niches that you might consider are self employed business owners, first-time home buyers or people with damaged credit. Each specific niche has a unique set of problems and aggravations that they have to deal with when trying to get a mortgage.
Step 2 - Develop your Brilliant Marketing Message
Once you've chosen your niche, your next step is to develop the marketing message that you will deliver to your prospects. To develop your message you'll need to know: What problems or issues they are facing? What results are they looking for? And what is it about your service or approach that is going to interest them and make them remember you?
Materials you should expect to develop are a lead generation special report or financing guide. The guide can be 5-10 pages in length and should, (1) identify your prospect's problem, (2) create a mental picture of the negative effects of the problem, and (3) talk about the benefits your financing solutions and how you will solve their problem. This financing guide can be in written form or better yet, a CD or video.
You'll also need to create two sales letters. One sales letter will be for promoting the free financing guide and the other for leading them to take the next step and complete their application. You should also create a "What People Are Saying…" testimonial book that contains endorsements from clients in your niche with accompanying pictures of them standing next to their newly purchased home.
Lastly, you'll need a brochure. But not a standard mortgage brochure -- one that is custom developed for your niche. So if you chose to market to renters and general contractors, you should develop two different brochures that include messages specifically targeted to the needs of your niches. The brochure doesn't have to be glossy and expensive. But it does need to talk directly to your niche and address their unique problems.
Step 3 - Obtain or Generate a List of Prospects
Your list of prospects is the most valuable element of your niche marketing program. First, look for existing l
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