- Becoming a specialist in a certain industry is beneficial because you position yourself above others providing “generalist” SEO services
- Niching down provides a greater deal of predictability which can be useful in terms of forecasting outcomes
- Niching down isn’t permanent. It’s okay to change your mind
John: Once you work in a space.
John: You learn it backwards and you just know. You get that level of predictability, like we just talked about and those processes become portable. I mean, I’m not telling you anything that you don’t already know.
Byron: No, no, but I think that’s like a common misconception I had about the niche was that you needed to go all in on that and then that’s all you did for the rest of the life. You did it, you know, and I’ve had a few problems with that because let’s say now, like we’re in a market now where you could have been in the tourism industry, all of a sudden you’d be left with no clients.
Byron: But I think, now with a new look for it, really what I understand is like, well, all a niche is, is like I’ve got a process and a strategy and the people in place that I can roll this out to this type of business. And I can repeat that. It’s a bit like McDonald’s when you go in and order a Big Mac, you get that Big Mac, it comes out the other side and it feels and it tastes like a Big Mac when it gets there.
Byron: And I think once you’ve mastered that niche, well then you can go on and you can pull in another niche, you can do the same with that one. You can master that one. You can get all the processes in place, you know?
Byron: So I think if you had, maybe, I don’t know what the sweet spot is, maybe three to five niches, probably three, you would think would be enough from some diverse number of industries there. Then, you should be able to safeguard your business, but also get that consistency there. So, yeah.
John: Yeah. I think that was definitely key as well. You’re allowed to change your mind. I know Gary Vaynerchuk always uses that expression. Just because you decided to niche down into the Lego space, if Lego, it goes under then okay.
John: And I had this discussion with Steven in the group the other day, he said, “You know, fuck,” we were specialising in tourism, I think, and he said they lost a big portion of these clients because of what’s happening at the moment with the outbreak.
John: But I think, in a strange roundabout way, this might be a good wake up call for a lot of people in the online marketing space. Perhaps those that were going broad and they’ve been heavily affected, or they can see that some have dropped while others are stable.
John: I think diversifying across two or three niches makes sense. For a freelancer that is, for a large scale agency, they might be able to go a lot broader than that. But what attracts me to it most of all, out of everything that I’ve learned over the last few weeks and from the discussions that we’ve had, is that your processes become portable. And you have that level of predictability. If I do this, I know this space backwards. I know if I implement these particular tasks and I do this amount of work, that this is the likely outcome.
John: Another quick thing I’ll mention is, and I wrote this down the other day. Niching down doesn’t necessarily mean niching into particular markets or sectors. It doesn’t mean, okay, I’m just going to niche down and I’m just going to work in the hotel or travel space.
John: You’ve got technology there, because I know that Cat said in one of her videos, we specialise in Facebook ads for Shopify stores. So it doesn’t just have to be, you know, fuck it, we’re just going to work in the automotive space. It could be, okay, not so much the market, but the technology. We’re going to specialise in just WooCommerce stores and the products might vary.
Byron: Yeah, absolutely. And I think with these days, it doesn’t matter if you’re looking at email or website CMS’s, or e-commerce systems, there’s like hundreds of different options in each of those, and I know what you’re like, you like your WordPress, there’s specific things that you like and same with my stuff. I’m like, if I’m going to do any of this stuff for you, you need to make sure you’re on my technology stack, because otherwise there’s no way I’m going to go out and learn these different platforms these days. There’s just too many to be a master of all of them. So, yeah, you really got to pick your weapons, I suppose.
Byron: You don’t want to be a samurai guy running in with an axe, do you?
John: What about you, Byron? Because I like to look back over the previous clients that I’ve worked with and I often flick through my run sheets and think, fuck, I shouldn’t have taken that guy on, or I’d never enjoyed working in that space. Do you do that often, have you looked back or given it some thought over the last couple weeks and thought about industries where you perhaps like to niche down in?
Byron: Yeah, 100%. I mean, I think now I think everybody should be considering where they should be pointed just because of the marketplace.
Byron: For example, we’ve had a lot of tourism gigs as well in the past, we’ve done a lot of hotel websites. We’ve done a lot of hotel marketing and I think the majority of those ones are paused at the moment, you know? So they might come back down the track, but they’re paused at the moment. So for me, I’m kind of happy that I’ve been quite diverse in that regard.
Byron: We have a lot of local businesses like physios and acupuncturists and stuff like that, that have paused for now or reduced. So yeah, I think it just makes everyone sort of reconsider where they need to point themselves because we don’t know how long this situation might last as well, we might be here for another six months, maybe it’s another 12 before things start to really pick up.
Byron: So, we all need to look at like, okay, well where are the opportunities now? Where do we start positioning ourselves so that we can actually pull some business in. We don’t want to be sitting here eating baked beans and toast for the next 12 months.
John: Tomato sauce sandwiches.
Byron: That’s it. Yeah.
John: So what do you think you’ll do, man, do you think you’ll niche down?
Byron: Oh, I definitely want to try that. So I’m going to try niching down. I’ll do something similar. Maybe I’ll pick one to begin with and I think I’ll just focus on one, and let’s see how this one goes to begin with. And then from there, I see myself maybe having three niches that I aim for and I’ll try to get them in more diverse industries so that if I think that one could go down, then the others will still be all right there.
Byron: But yeah, I think it makes sense. I mean, I think if you go back to when you were building this course as well, you were like, you’ve really got to dial in your messaging and you really got to get your messaging tuned in. If you know who you’re targeting, then you’ll be able to pull them in more easily.
Byron: And I think that one stands true today, still with your business. If you’re dialed in, you know the exact pain points that a certain business is having, not just from a marketing perspective, what’s the day to day problems that they’re having?
Byron: Is it an e-commerce store that they want to get into a larger warehouse, but they can’t get there because they don’t have the leads to get in there, you know?
Byron: What is it that sort of holding them back? And I think if you can talk in their language, you can much more easily pull them in as well.