NANO-NICHING: BONUS CLUE FOR REVENUE MANAGERS
The theory of the lucrative nano-niche is known to many in marketing and sales. But seldom acted on there. And even more seldom outside, in fields like IT, production or operations.
After all, on LinkedIn you can select non-London advisors to corporate treasurers of UK energy firms who were active on the platform in the last fortnight and who have charitable interests.
There are two places you can observe the competition. The first is in sales. Ask your team who they mostly lose pitches to, or if that's unknown, why they lose. That's a sign for how your competitors are at play. But the much bigger area is marketing, where you lose hundreds, or thousands of opportunities is the social and search landscapes. How do you score there? Most visiable, most actionable, most sought-after? No. And that's where much of the damage is happening.
Better to have wiser niches. For prospects.
It's possible for many of us to think, oh that's too advanced for us, only the committed will trample that ground. Let's avoid.
But hardly anyone does. Most of us prefer to hunt in the open prairie, where huge heards are hunted by almost as many hunters. Instead, we could be taking ourselves into little pockets of lush land with smaller, local herds and next no specialist hunting competition.
Better prospects. Better fit.
How to Pivot
This kind of niche power demands intelligent thinking. Meaning you'll have to put some effort in, change the way you work.
You simply need to define and find niches, understand their needs, then create appropriate messaging and tailor your service or product.
And how you might ask?
Prospecting services are superb at this. Any decent prospecter won't just ask who your prospects are. They'll push to split them into useful, more winnable batches. We certainly do anyway.
Lucky for you that's where the lazy bail out. Leaving you to fly the plane. Beautiful. So grab those nano-niches.