I'm looking to move into a whole new "vertical" market and I was looking to get your thoughts on which to target.
I've been in my current market for 3 to 4 years, and my cost of acquiring a customer/client has gone through the roof. I have plenty on the back-end to keep this going, so I don't plan on abandoning this, as it's still very profitable.
The market I'm in just now, is the only market I had any affinity with, that's why I'm finding choosing a "new" market to be difficult. The life time value of a client in my current market isn't great, so I'm looking at targeting businesses with a higher transaction value, and lifetime value.
My business model focuses on licensing "proven" marketing systems to local businesses on an "area exclusive" basis. Things like lead generation, websites, free reports, sales scripts, up-sell scripts and tracking metrics etc. And it's all done-4-you. It's a hybrid of online and offline.
The markets I'm considering are:
1. Dental Implants
2. Financial Planners
3. Divorce lawyers
4. Home remodeling (kitchens, bathrooms)
Are any of the above particularly good businesses to target? I know many of you work with a wide array of different businesses, and probably have first hand knowledge with one or two of the above.