If you are a financial advisor, specializing in a niche market will help you become a subject-matter expert who understands your ideal client’s unique needs. You become known as the trusted advisor of choice in your market.
A lot of advisors make the mistake of thinking that targeting a niche market will limit their potential. They want to market to everyone because they don’t want to miss out on the opportunity to serve a bigger clientele. However, when you market to everyone, no one hears you. When you market to everyone, your message gets lost in a crowded market place.
Let’s face it, competent financial professionals are a dime a dozen. Financial institutions housing hundreds of eager advisors stand on practically every corner.
By specializing in a niche market, you suddenly stand out as the go-to advisor in your community.
Here’s a hot niche market for you… the fastest growing pool of potential clients:
Women business owners.
Women-Owned Businesses are growing in numbers!
Check out the following data from the American Express OPEN, 2013 State of Women Owned Business Report….
8.6 million companies are owned by women, employing nearly 7.8 million people
1 in 5 firms with revenue of $1M+ are woman-owned
Women-owned firms make up this percentage within these industries:
- 45.1% in Educational services
- 40.7% Other services
- 29.1% Professional/scientific/technical services
- 18.7% All other industries
By specializing in a niche market, you come to learn all about what matters to your ideal client; what their pain points are; and the best way to communicate with them.
By specializing in the woman-owned business market, you become an expert in the issues and challenges they face, especially as it relates to their financial concerns about the future. Add to that the fact that marketing suddenly becomes infinitely easier (and less costly), because now you’ll know where to find them.
Here’s your homework:
Do an internet search on women’s business networking meetings in your area. I just did for mine, and got over 3.5 million results.
Target women business owners and you’ll never run out of leads again.
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