The Difference Between Working a Targeted Small Niche Market and Marketing the World is about 50:1 or More

Somewhere I read that 98% of the fish in a lake can be found in only 2% of the lake.

Just imagine, you drop your bait into the water in the 98% of that lake’s area where there are no fish. It makes absolutely no difference if you have the best bait in the world does it? So what does make the difference?

If you didn’t know this, or where to fish you might spend 98% of your day where there are no fish, and quite by accident end up where the fish are 2% of your time or less.

If you caught only one fish when in that 2%  time slot, then what would happen if you spent 100% of your day in the right spot? Wouldn’t that mean that you’d land 50 times more fish that day?  But there’s a lot more opportunities than just that. When you get the WHOLE picture right.

One problem most business owners have is that they are trying to sell to the world (fishing the WHOLE lake) rather than being in the right place at the right time, or even being in the right place where all, or most of your target market is, but being there the whole time you are fishing.

But, one problem is that you don’t know where that is, so you’ve drifted across the whole lake wasting 98% of your time.

Would you like to know when, where and how to get the most clients (right place to fish on that lake).?

When We Get a Nibble It Misleads Us

When you are fishing the wrong 98% of the lake . . . where there aren’t any fish . . . it is possible that a fish might come tooling by on a very rare occasion as he moves from where most of the fish are to another place that the fish are.

So, what happens in this case is that maybe once in 8 hours of dull fishing you get a nibble when that fish comes by. And, of course, now that you have a nibble you get excited and are encouraged to stay around for another 8 hours or so. The first hour after that nibble you are excited again about potentials.

But it’s another 8 hours before you get that next nibble. All because you are fishing where the fish aren’t.

Do you do your marketing that way?

Very get few nibbles in your marketing, and you do get pretty excited when you get that nibble. Enough so that it keeps you doing what hasn’t been working.

You have heard that you just can’t keep doing what you’ve always done and expect different results haven’t you?

Getting that nibble on a very RARE occasion has likely kept you doing it even when it wasn’t working, or at least working well enough for you to feed your family when fishing this way.

Let’s look at how to become the best fisherman in the lake.

Besides Being in the Right Place You’ve Got to Have the Right Bait

Besides fishing in the right place, your bait determines whether the fish actually bite when you drop it in a whole school of them, and how many of them bite.

Your bait is your marketing message. If you have good bait and drop it where the 98% of the fish are then you are very likely to start catching fish. The quality of that bait, in other words how compelling it is to fish, determines what percentage of the fish that see it respond by taking a bite.  

But if you drop even good bait in the other 98% of the lake, where fish almost never are, the quality of the bait doesn’t matter. The key is being in the right place AND having the right bait.

Your marketing message, your bait, is EXACTLY the same.  When you have a POWERFUL COMPELLING marketing message AND also drop it where your target market is you’ll start reeling them in by the truckload.

If you drop the best bait in the world in the wrong place either you won’t get a single bite, or it’ll be a long time before you do. You just won’t be reeling them in by the ton will you.

It’s just like fishing, you must be in the right place with the right bait. So do you know where the right place is for your target market, and do you know the bait that would have them jumping into your boat? If you had those answers they would already be jumping in your boat, right?

Let me help you develop your fishing to that level.

Two problems most business owners make is that by trying to sell to the whole world they are making two problems, they aren’t where the fish are most of the time, if not all of the time, and they have never discovered the bait that works for their kind of fish.

It’s called, narrow down, find your niche so that you know where your target market can be found, AND what bait they like.

If you are trying to land every last fish in the lake, you don’t have the right bait for the right fish. And if you don’t have the right bait, then all you do is catch a fish here and there. You are PLAYING at fishing and not having enough fish to feed your family.

Do You Want a Minnow Here and There, 10 or So 1-pounders, or a Whale?

A bait that targets the whole lake may actually only bring you minnows, where, to feed your family, or, better yet, to become a super performer, you want a boat full of mid-size fish, or you want a whale every month or so. And that takes a totally different kind of bait.

Have you actually designed your marketing to deliver what you want, as many as you want or have you been doing what I call Hope and Pray marketing? If you drift around the lake without a target fish, and you don’t know the lake, it’s likely you go to the lake for fun and entertainment. It’s a hobby. It certainly isn’t feeding your family.

Now,  let’s now assume that we move our bait to where the fish really are, the 2% of the lake. We can choose a place where we know we can find  hundreds, or maybe even thousands of average size fish in this smaller area, or we can choose a place where we know there are whale-sized fish.

And then we must choose the bait for our target market. Our bait determines what percentage of those that see it who will respond to it.

In other words, in fishing, some lures, or some live bait are real killers. When you drop them in it attracts many, many of our targeted fish.

But, let’s evaluate one more variable. When fishing, if you drop a bait in a lake that’s a killer for catfish, it may not even be attractive for a bass, or our ideal fish. So, we want to evaluate not just on how many fish we attract, but how many of the type of fish we want.

And before, we go on to the next point, let’s look at another variable in our fishing scenario. Now that we’ve found what attracts our type of fish, there’s another thing to consider.

Frequently the BIG fish responds differently than the little one. After all, there’s a reason that the big fish got big, he’s doing something that helped him grow bigger, last longer than the little fish. So, it’s entirely possible that he bites on a totally different kind of bait, different depth of the lake, different place in the lake, and responds to the lure when it acts a different way.

So, although many people who are fishing catch tons of the smaller fish of our desired type that can mislead our thinking. We see them hauling in the fish and believe that we must fish the way they fish, in the location of the lake where they fish, the depth they fish, but it’s when we identify how to catch that big fish that we are the most successful.

Marketing is no different.

We must know where to fish, where we’ll find the most clients, and stop fishing the REST of the world.

Then we must know what our clients bite on, a marketing message that is a killer message. It’s something they REALLY want, and not just any old bait we throw in the water.

We also must know what kind of fish we are fishing for. When most of us have been marketing to the whole world we found that almost all were either not there, or didn’t like that kind of bait.

And in fact, we need to identify our target market by

  • Understanding what they want (solutions to their pain, and that’s specific to that fish . . . er target niche market. Fishing the whole world means that 98% of the time we aren’t even close to a fish . . . er niche market, and even then we’ve got to know what they bite on.
  • Understanding the IDEAL market, such as I’d rather go after the BIG fish, a client that’ll likely buy $10’s of thousands of dollars from me, instead of a client who barely can afford one hour of my service. So, to go after that BIGGER fish, we may have to fish in a different place, different depth, in a different way, and possibly at a different time.

I hope this analogy helps you understand that you can’t market to the whole world and be successful. If you had to live on the fish you catch it’s likely you’d starve to death when going after the whole world (or whole lake). But when you know where to fish for that special type of fish you want, get your bait in front of hundreds of thousands of them, have the right bait, you likely will pull in many fish, and the RIGHT fish, the bigger ones by understanding how to fish (how to market).

Once you have the right marketing message (the bait) that could pull in 10% or more of the fish that see it. Even if you fish the whole lake, either 98% of the time you’ll be in the wrong place and be wasting your time. OR if you get it in the right place where there are hundreds of the right fish, then pull in 10%, you just might have more fish than you can possible consume.

Wouldn’t that be nice for your business?

Would you like to know where to fish (market your wares) to catch the most fish and the most valuable (bigger fish)?

Would you like to have the bait (marketing message) that has your fish leaping out of the water right into your boat? A good marketing message can almost do that. How good has yours been? Does it have them begging for your time?

It’s your marketing message and where and how you fish that’ll provide you with all the business you can handle.

Sorry for mixing the metaphors, but I think you get the point.

If you’d like to have them jumping into your boat at an unprecedented rate, call me for a free evaluation of where your are now and what will turn this around. In fact, I guarantee you’ll find your answers in our session. Email AlanBoyer@100k-small-business-coach.com we’ll get you lots of customers faster than ever before.

Alan Boyer

The $100K Small Business Coach

Shortcuts to your first $100K (or many more) within a couple of months