Knowing how to get more business will help your company to scale in a niche market. Everyone wants their business to continue growing. But that can be a challenge if your industry is one of low volume. When you know how to get more business in a low-volume industry, you can stay ahead of your competition.
Some companies operate with a logical fallacy called "argumentum ad antiquitatem," which also means an appeal to tradition or common practice.
Companies fall prey to this when they continue to use the same processes because "that's how we've always done it." An example of this might be television ads or monthly newsletters.
These strategies might work if your company is the giant gorilla in the room and has a big customer list. But most companies need to use new marketing strategies as the marketplace evolves.
In low-volume industries and niche markets, your company needs consistent lead flow. Having steady lead flow will help you to persist through the peaks and valleys.
How is your lead flow? Do you have sales teams waiting around for inbound calls? Is your fulfillment department sitting idle, waiting to deliver services or manufacture products? You need a constant source of leads and prospects that you can move through the buyer's journey. Otherwise, your company may face periods of downtime that cut into your bottom line.
These days, customers are savvy. So how can you attract them to you and nurture the relationship until they do business with you?
Today, I'll be showing you how to get more business for your company if you are in a low-volume niche market. By the end of the article, you'll discover three ways to build and nurture relationships to turn prospects to customers.
Your company is already in a low-volume, niche market. How can you increase your business and get more customers by writing solid content? When you create and distribute high-quality content, your time and effort are noticeable.
Prospects will appreciate that and you'll earn their attention away from competitors.
These activities include creating articles, collaborating with non-competing companies, and getting on podcasts. Also beneficial is having a captivating social media presence, a useful YouTube channel, and media appearances. All these activities require you to put in the time and effort to properly execute them.
The goal here is to build relationships with prospects and get them into your world. You want to discuss topics that are interesting, fascinating, and relevant to them. Once you enter the conversation that's already going on in their minds, they'll start to pay attention to you.
In a way, it's like treating your prospects like your friends and family. When you have dinner with them, do you talk about promotional brochures or your favorite ads? Probably not. So why would we expect our prospects to do that?
David Ogilvy once said, "Never run an advertisement you wouldn't want your family to see. Tell the truth but make the truth fascinating. You know, you can't bore people into buying your product. You can only interest them in buying it." That is the key to building a good relationship with your prospects.
At this stage, you're not hard-selling prospects. But you do want to offer them something of value for free in exchange for their email so you can begin building that relationship. I'll talk more about that later in the other steps on how to get more business in your niche market.
So aside from putting in sweat equity to earn more eyeballs, what else can you do? You can gain control of other people's traffic in exchange for money through advertising.
By paying for ads, you can direct traffic to your website. On your website, you can start building the relationship by making a compelling offer. Your end goal is to exchange that offer for their email address or messenger chatbot details. Now you own your traffic.
Why do you want to own traffic? Because then you can reach out to prospects again without needing to spend more money. Being able to do this is a crucial component in knowing how to get more business for your low-volume industry.
When controlling traffic, it's essential to put out the right bait to capture the right prospects. One of the easiest ways to put out the right bait in your niche market is to use their language.
For example, let's say you are selling a real estate coaching program on building teams. You could say, "Attention real estate agents: Duplicate yourself and sell more homes."
When they click to your website landing page, you want to give them something with perceived high value. Customers should want to exchange their email address or messenger chatbot details to receive that item.
Once they do, you now "own" them, allowing you to nurture the relationship further without additional advertising costs.
The final step in how to get more business for your low-volume niche market is to move the relationships forward. Prospects who were looking to make a purchase have likely turned into customers already.
However, you need to nurture the relationship with most of your prospects through email or chatbot sequences. The good thing is that email is 40x more effective at acquiring a customer compared to social media. It is the favorite choice for marketers in terms of ROI.
You already have them on your customer or prospect list, all you need is to make them irresistible offers. These offers could include providing a limited-time discount or having a limited quantity.
There are two other ways to get more business in your niche market. One is to get existing customers to increase the amount they spend with you. The other is to increase the frequency at which they spend with you.
An example of increasing the amount spent is to offer them something of even higher value. A done-for-you service or an exclusive mastermind have a high perceived value.
An example of increasing the frequency at which they spend with you could be offering other types of products and services. Another is to give discounts on future purchases.
You can also continue to nurture the relationship. Make sure to deliver valuable information that prospects are looking for and find appealing. Don't forget to make more offers consistently.
You've now learned how to get more business by generating leads through relationships. You can build relationships by earning your traffic or controlling your traffic. You then want to offer them something of value in exchange for their contact information.
When you obtain their email address or messenger chatbot details, you should move onto nurturing. Ensure that you deliver valuable information they desire to build trust.
When you make irresistible offers, you will turn your prospects into customers. By making additional offers, your customers can spend more money or spend more frequently with you.
Do you need any help in creating content or crafting offers? Contact Copywriters.com today and discover how we can help you get more business for your niche market company.
Arthur Kam is a revenue-generating marketer and direct-response copywriter. He's a former engineer, who bootstrapped and exited two eCommerce brands that each made multiple 7-figures in sales. Nowadays, when he's not focused on helping clients scale their companies through copy, marketing, and funnels, he loves to travel and experience the world with his wife and business partner, Dr. Grace Lee.Hire Arthur