Learn Marketing from Neil and Eric Get Started
Episode #749
Are The Riches Really In The Niches?
August 19, 2018

In episode #749, Eric and Neil discuss whether riches are in the niches. Tune in to hear whether you need to focus on a niche market.

TIME-STAMPED SHOW NOTES:

  • [00:27] Today’s Topic: Are The Riches Really In The Niches?
  • [00:55] If they are, then why do we do different things?
  • [01:15] In the beginning, you can go after a niche, because it is too expensive to go after a huge category.
  • [01:20] Once you are established, you should expand and get beyond a niche market.
  • [01:22] For example, ConvertKit tried to compete in the email marketing space and it didn’t work out. When they changed course to be a service for bloggers, they started succeeding. Now, they are Seva and have a larger business.
  • [02:00] It is hard to make millions working within a niche.
  • [02:35] If you are going to swing, swing for the fences.
  • [02:54] If you don’t have a lot of cash, go for a niche. If you have the money, go for a huge market from day one.
  • [03:25] Eric interviewed someone who works for Kahuna.
  • [03:44] They focused on one area and then expanded their knowledge in that area.
  • [04:10] In this case, the company wasn’t working before they focused on a niche.
  • [04:41] Sam Evans found that when he “niched down”, he was able to have more success.
  • [05:10] Now, Sam and Consulting.com target anyone who hates their job and has some sort of expertise. Then he teaches these people how to become consultants.
  • [06:05] He has since had members create testimonials for his service.
  • [06:100] That’s it for today!
  • [06:17] If you could take two minutes out of your day, we are trying to improve the listening experience for you, so go to Singlegrain.com/survey and help us gain some insight into what matters to our listeners.

Leave some feedback:

  • What should we talk about next? Please let us know in the comments below.
  • Did you enjoy this episode? If so, please leave a short review.

Connect with us:

Discover Latest Episodes

Episode #1393
The Most Successful Cold Email Eric Has Ever Written
May 25, 2020

In episode #1393, we discuss the most successful cold emails we’ve ever written. Sales and marketing letters need not be long and complicated: most of the time, a short, concise email is far more ef...

Episode #1392
How to 10x Your Headline Success Rate
May 24, 2020

In episode #1392, we speak about how you can 10x your headline success rate! A good headline can go a long way and is almost always how you can capture traffic and the first step towards engagement. T...

Episode #1391
How to Find Great Marketers During Hard Times
May 23, 2020

In episode #1391, we speak about how to find great marketers during hard times. The crisis in which we find ourselves currently means that a lot of people are out of jobs, at least in the US. But how ...