Marketing for only one industry wise?

13 replies
Hey guys, just came across this in a marketing seminar but do you think that would be wise? Way I am seeing this, let's say you would market for only doctors in your area, how would that work where everyone is each other's competition?
#industry #marketing #wise
  • Profile picture of the author Josh Mayers
    Originally Posted by mikehende View Post

    Hey guys, just came across this in a marketing seminar but do you think that would be wise? Way I am seeing this, let's say you would market for only doctors in your area, how would that work where everyone is each other's competition?
    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
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  • Profile picture of the author Tsnyder
    Originally Posted by mikehende View Post

    Hey guys, just came across this in a marketing seminar but do you think that would be wise? Way I am seeing this, let's say you would market for only doctors in your area, how would that work where everyone is each other's competition?
    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.
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    • Profile picture of the author princetotem
      Originally Posted by Tsnyder View Post

      It would be unethical for me to also market for their competition.
      Agreed with this.

      There's nothing wrong with selling your marketing services for a specific niche, but I wouldn't, (using the example you gave) give my services to two different doctors surgeries within a certain radius of each other. If they're across the country from each other, there's not really an issue.

      Focus is also a good thing to have, if you specialise or have more general knowledge about marketing techniques for certain business types, it's not a problem.
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  • Profile picture of the author writeaway
    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
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  • Profile picture of the author mikehende
    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?
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    • Profile picture of the author JohnMcCabe
      Originally Posted by mikehende View Post

      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?
      I think people misunderstood your original post. I know I did.

      They were talking about acting as a marketing consultant, while it seems you are looking at referral services or directories.

      Two entirely different animals.

      If you want to run a directory and charge for referrals, without worrying about the inner workings of any particular business, I don't see an ethical problem.

      Otherwise, I agree with the others. Even if you didn't intentionally use confidential information, it's there and your brain will factor it in.
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  • Profile picture of the author mikehende
    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.
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  • Profile picture of the author unlimitedoptions
    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
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  • Profile picture of the author mikehende
    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.
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  • Profile picture of the author Steve B
    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
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  • Profile picture of the author JohnMcCabe
    Originally Posted by mikehende View Post

    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.
    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.
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    • Profile picture of the author mikehende
      Originally Posted by JohnMcCabe View Post

      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.
      I never considered the above. I personally would never use inside info from any one client for another, I am thinking I would want them all to have a level playing field and let their services and pricings e.t.c determine how much business they should get.
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      • Profile picture of the author JohnMcCabe
        Originally Posted by mikehende View Post

        I never considered the above. I personally would never use inside info from any one client for another, I am thinking I would want them all to have a level playing field and let their services and pricings e.t.c determine how much business they should get.
        Stick to that, and make sure your clients know you're sticking to it, and you should be fine...
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