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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.
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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 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
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 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 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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