“So what do you do?”
goBRANDgo! is a marketing company that works with $25M-$250M B2B companies in the manufacturing supply chain whose owners are in their 50s-60s looking to make a successful leadership transition in the next decade or so…they typically have a couple grandkids, a lake house, and ride motorcycles.”
Eyes widen, jaw drops…then several follow up questions ensue:
“Wait, what?!? How did you identify that niche? Did you start out there?”
No, we backed into it by constantly looking for the patterns in which clients are fun, easy, and profitable, versus the ones that aren’t, and why. We had several false positives and negatives along the way to this market that had us focusing on medical and financial companies several years ago.
“Is that a big enough market to sustain your business?”
There are enough of those businesses in one industrial park here in town alone for a $50M business.
…and so forth and so on.
Understanding the demographic and psychographic tendencies of our niche market has been key to the growth and success of our business.
The niche market combined with consistent, memorable messaging makes us very referable.
It provides mental handles for people to hold on to and say, “I actually know someone that checks all those boxes.” Which is also why we get multiple introductions every week to owners that for our criteria regardless of if they are looking for marketing services.
Being experts in our niche market also gives us a lot of advantages operationally. Although not exactly the same, the challenges our clients face sure do rhyme.
With more repetitions, our team builds more cross-functional institutional knowledge,
…shortening our learning curve,
…becoming even better experts in space,
…diagnosing and solving bigger problem faster,
…commanding an even higher price in the market.
Higher prices in less time for better outcomes is a good combination for business growth.
Because we understand the challenges, opportunities, and desires of our niche market, we are also able to make introductions and add value in unique ways.
The Conflux is a perfect example of this. We saw the positive impact our clients got from being in the same room with their manufacturing peers and found a way to do that at scale.
Who are your ideal clients? The ones that you are excited to work with and are mutually profitable.
What do these clients have in common? Size, B2B/B2C, industry, pain points, location, interests, culture, product/service, budget, current/future state, fears, hopes, dreams…
How can you modify your “What do you do?” messaging to make your company more referable? To be descriptive enough to create a visual of and introduction to a specific person?