Marketing for only one industry wise?

Hey mikehende

Great post man

After reading your question, I'm getting that you mean choosing only one, particular audience to market to - am I correct?

If so, I think that it is OK if you plan to make side cash and I say this because eventually it will get saturated with everyone else choosing the same marketing method.

To add to that, I would say that it would depend on whatever service/product that you have to offer. Knowing this will help anyone find more than just one, particular audience to market to.

Hope this helps buddy

-Nazir Yahshua

If I'm going to be a business owner's exclusive marketing professional
I'm going to need to know information about their business that is confidential
if I'm going to do the best job I'm capable of doing for them.

It would be unethical for me to also market for their competition. It may
also leave me vulnerable to a civil lawsuit if either of them discover the
situation and object.

The enhanced focus saves you time

Instead of spreading yourself too thin trying to hit more than one industry, you can drill down and get more traction by researching your niche fully

The thing is guys, when you look at 1-800-dentists and similar, their advertising is very effective so are carsforsale and others so I am not seeing where the "ethics" part comes into play here?

Oh I think I see the difference now, Angie's list and others mentioned above are referral services and not doing direct marketing for competing companies in the same niche. I think that's a very fine line though.

Hi Mikehende:

The answer to your question depends. "The old it depends answer"

If you are targeting a really small community of let's say 5 doctors then it doesn't make sense to just target doctors. The size of the market and opportunities are too small.

If you are targeting doctors in New York City, London, Miami, Tokyo or any other large cities then it makes perfect sense to just focus on them because there are 1000's, 100,000's and even millions of doctors in these cities.

Figure out the size of your market and see if it is big enough...

Good luck,

Dan

I am in the heart of NY so yes there are many services in the same niche, I am guessing that may be why that seminar suggested focusing only on one industry. Thing is though, since there are many GP's [doctors] for example in the same zip code and I should be marketing for them, I will still be creating competition between competing services in the same location.

I think the guys are stating above that this situation will not be ethical.

I guess I have a different take on what you're asking.

You want to market to one industry only. Correct?

I say . . . go for it. Specialize. Become the authority in the niche. Offer your services to whomever you want as a client.

The only question about ethics comes up if you're not open and truthful in how you work with your clients.

Tell them you have other clients in the industry that you are working with and that you want to give everyone the same high quality service. Use your knowledge of the industry to help your clients be successful in spite of the competition.

Every client will come to you in a unique position with varying needs, goals, and resources for you to work with.

So you focus on each client and how you can best help him/her.

You are not in competition. Just because a competing business comes to you . . . and you already have a client in the industry . . . there is no reason to say "I can't work with you - I already have another client in your industry."

Does every bank, every CPA, every advertising agency, every manpower service, every law firm accept only one client per industry? Of course not!

Your job is to offer the best help you can for each client that wants your service. Obviously, your solutions and suggestions for each one will be different because every business is different. Focus on the client's strengths and advantages. Help them to position their business differently so they aren't competing directly for the same dollars as another of your clients.

Just be honest and open about what you're doing and who you're helping. If the competing firm doesn't like it ... they can go elsewhere.

Steve

Got news for you, Mike.

The competition is already there.

The ethical question comes up when you consider using inside information about one client to gain an unfair advantage over another client. If you can do as Steve said, being open about the relationships, you can make it work.

The main reason the seminar suggested focusing on one industry is that it's the best way for a new face to build authority in that industry.

Look around...

Joe Polish works with carpet cleaners.

Rory Fatt works with independent restaurateurs.

If Joe started targeting restaurant owners, he'd have to overcome the "he's a rug guy, what does he know about running a restaurant" question, even though many of the concepts are the same.