Networking In A Niche Market
How to use networking to sell more in niche markets.
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Networking In A Niche Market
Here’s a question: You move to a new city. The service you sell is only applicable to a narrow niche market. How do you quickly build a pipeline of qualified prospects?
We received this question from Richard:
I run an architectural visualization business. I have been in this business for 8 years and have recently relocated to the Seattle area. I am trying to drum up clients (architects mostly) and am trying to find the best way to get noticed. What is your advice?
Richard, you’ve got a challenge. Your service is used by a narrow niche – Architects – and you are trying to establish a presence in a new city where you have no reputation.
Sales Professionals find themselves in this situation regularly when taking over new territories or starting new jobs. And while most of those moves involve products or services that touch a broader market, some, like yours require establishing a foothold in narrow niches.
If you’ve listened to my podcasts long enough you know that I am a fan of a balanced approach to prospecting. This means, based on the particulars of your territory, tenure, product or service, implementing an appropriate mix of cold calling, networking, social media, direct mail, referrals and advertising.
In your case Richard my advice is to put more emphasis on networking and referrals with cold calling added each day to help fill in your calendar with appointments. The reason I make this recommendation is you are trying to penetrate a niche market, made up of professionals, in a city where no one knows you and the most important thing you can do right now to build your business is to become known. Now certainly you can buy advertising to help build your brand, but the most effective way to create awareness and generate sales is to get face to face with your potential customers.
Because architects are professionals it is likely that they get together for group networking events. They will also attend conference and events in the construction and design fields. Do some research and find out where and when these groups meet and then show up. I suggest checking with the chamber of commerce to find out if they know of specific meetings in your area. I also recommend doing a search on Google for national and local chapters of trade associations that cater to architects and getting involved in their local activities.
The networking strategy is powerful, in your case, because you can connect with the most influential Architects in your area, without having to directly sell to them. You will have an opportunity to meet them on a personal and professional level and develop relationships. These relationships will turn into both customers and referrals which will lead to more relationships, which in turn will help you build your business. For example, I was recently at a conference where I met a gentleman who gave me a referral that turned into a $100,000 sale. We got into a long conversation and really hit it off and because we connected he made an unexpected introduction that had a huge impact on my business.
The key to being successful with this strategy though is consistency. You have to be at every event. You have to get involved. You have to build relationships and friendships before you sell anything. You have to be willing to help other people. It is critical that this professional community see you as someone who adds value rather than a businessman who just wants to make a buck. And the good news is when you build a reputation as a value giver, you will have more business coming to your door step that you can handle.
This is Jeb Blount, the Sales Guy. If you have a sales question please send it to salesguy@quickanddirtytips.comcreate new email.
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