Brainstorming Session: Do you have a niche in your line of work?
Working with certain type of clients.
Specializing in handling certain professions.
Some think you need to specialize but it may not be best for everyone.
Discounts, pricing or coverages for certain clients, professions, properties, etc.
Higher level of service to differentiate.
Social media niche. Keeping people updated.
Offer extra services. Specialized areas.
Speaker: Ed Vargo, Burning River Advisory Group
Topic: Carving Out a Niche
Our goal is to have someone seek us out.
Differentiate ourselves upfront.
Overcome objections prior to meeting.
We focus on women clients going through life changes such as divorce, death of a spouse etc.
Not trying to be all things to all people.
Started off with a comprehensive plan and then narrowed it down.
People have different strengths in the company and therefore different niches develop.
Create niches based on expertise or in your marketing efforts.
Niches narrow further as time goes on.
*Already good at something and then recognizing it.
Need to have passion in a niche.
Behavioral Science. Why do all types of people make the same mistakes?
Women are more risk adverse.
Money in motion creates a sense of urgency.
Alienate some of the public or demographics which is okay.
Finances are very personal.
It is difficult to prove you are better than your competitors but you can prove you are different.
Determining your why may help you choose a niche.