When developing a brand online or offline, one of the biggest mistakes most entrepreneurs make is trying to please too many people, and in the words of Bill Cosby “…the key to failure is trying to please everybody.” You’ve got to define a target market, even within a specific industry.
I made this mistake back in 2009 when I published my first marketing book. From the measure of book sales alone, it was a total failure. It sold less than 200 copies. Even when I published it, I knew it would never sell a ton of copies. I had neither a major publisher, nor a large marketing budget.
I used the book as a glorified business card to market my offline consulting, so I gave quite a few away. It’s a great lead generation tool, but a lousy seller.
Fast forward two years later – Russell and I published a marketing book in 2011 that was much more targeted – a marketing book specifically for veterinarians. It sells very well on Amazon even at the price of $24.95 without any promotion on our part. I share the difference in the video below:
Why am I able to charge twice the normal price of paperback book it’s size with this Veterinary Marketing book? Because the information is specific to that industry. Veterinarians know this information is specific to their field, so they will pay more for this info than any general marketing book.
When you specialize your marketing message by narrowing the focus, you increase the value.
David and I will be sharing some examples of target marketing and why you should get narrow within your industry by looking for specific industry problems.
As an example we talk about one of David’s marketing clients – an acupuncturist who specializes in a particular eye disease called Retinitis Pigmentosa. Because he specializes in helping patients with this disease, he is able to charge a higher premium for his services than other acupuncturists.
We’ll be discussing this and other examples of focused target marketing. Enjoy the show and have a great week!