FollowI don’t have to tell you how competitive promotional products sales are these days. If you want to stand out and attract more and better business, developing niche market expertise makes dollars and sense. Your clients want to do business with experts. Specialists earn more than generalists in every industry.
Concentrating your selling efforts on one or more niche markets can dramatically increase your sales. Use these guidelines to find your perfect niche:
*Pick an industry or area of specialization that you’re familiar with and that you enjoy working in.
*Look for industries and areas of specialization that have large budgets for promotional items.
*Define your niche by the types of programs in which you specialize. Some examples are safety programs, client retention programs, awards and gifts.
*Define your niche by the type of service you provide, such as fast turnaround, company store specialist, design or event planning.
*Define your niche by the geographic markets you serve, i.e. New York City, global markets or resorts.
*Define your niche by the types of companies you serve, such as financial, healthcare or hospitality.
*Define your niche by the causes you believe in, i.e. environmentally friendly products.
Having a niche does not mean you will not sell outside of your niche market. This just means this is where you will primarily focus your time and marketing energy.
You can have more than one niche market, but most experts recommend having no more than three. The main advantage is that, if you have two or three niche markets and then if one is slowing down, you can stay busy and make money in the others.
Once you’ve decided on a niche market, learn as much as possible about it. Do an internet search, visit related websites, subscribe to magazines and read books. Research the trade shows and the organizations that people in your niche market attend – and be there! The more visible you are, the more opportunities you’ll have to make more money!
© 2010 – 2013 Rosalie Marcus
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Rosalie Marcus, The Promo Biz Coach ™ is a promotional products business expert, coach and speaker. Combining her skills and years of experience in promotional sales, she helps her clients sell more at higher profit margins and dramatically increase their incomes! Get a FREE special report: 10 Big Mistakes Promotional Professionals Make and How to Avoid Them and a FREE Skyrocket Your Sales audio download at http://www.promobizcoach.
Reach her at Rosalie@promobizcoach.com or 215-572-6766.
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