The riches is in the niches - this chart explains it all. Thanks Alex Hormozi.

Here’s what’s on the image above - Source: https://www.acquisition.com/training/offers2

This is my takeaway from Alex’s FREE training you can find here; https://www.acquisition.com/training/

In the world of marketing, finding your submarket is crucial. This submarket is your unique way of targeting a specific avatar, persona, whatever you’d like to call them, to solve a particular problem in a distinctive way.

This honestly takes me back to that marketing class I took with my local Chamber of Commerce where our business coach Veronika Noize, owner of DIY Marketing Center suggested I niche down to offering a “Streamlined online ordering system for busy Mexican restaurants” - not just “Website Services.” She was onto something.

The Power of Niching Down

The riches lie in the niches. Niching down allows for significant price increases by tailoring the product to a specific audience. This specificity makes the product more valuable and justifies higher prices.

So why does this work?

Because the more specific you get, the more valuable your product becomes. You're not just selling a course; you're offering a solution to a very specific problem. And people are willing to pay a premium for solutions, especially when they feel like you get them, like you really get them.

The key is understanding your audience better than they understand themselves. When you can articulate their pain points and offer a tailored solution, you're not just selling – you're building trust. And trust is the golden ticket to higher prices.

So fast-forward a couple of years later, and here’s the landing page my business partner and I have made on our website for targeting those restaurant clients - https://thewebsitechicks.com/restaurants.

There’s always room for improvement but It’s a path in the right direction.

So next time you feel like answering “everyone” when your website designer asks who your target audience is, I hope you won’t be afraid to be a little more specific.

Until next time,

Lili