Business owners don’t want to deal with multiple agencies or consultants. Pick a niche that needs 3-5 things to create leads, do those things well, and grow. If you don’t you’ll be left behind.
Our approach is selling our time to free up their time. There are things small businesses need to do to have a good presence online but they don't know how to do it and don't have the time to do it. It ends up being 'agency work' but not a specific 'specialty' per se.
This is great! It affirms I on track to success. I am figuring out my niche but as a digital marketing strategist and not just a copywriter or SEO person.
I agree having one service offering is risky, however offering multiple different services can also be risky when it comes to having higher operational drag and costs. Because by not "niching down" you now have to start hiring SMEs to help with fulfillment and that isn't cheap. So it's a catch 22 in either scenario.
Industry niches are dangerous too. Industries also have ups and downs. The depend on so many external factors. For example it’s no fun to be an agency for realtors if there’s a crash in the housing market. In our case we lost almost all our clients from the travel industry during covid and mostly relied on our e-commerce clients. If we’d chosen to be an digital marketing agency exclusively for the travel industry we would have been bankrupt already. 🤷♂️
Yup I agree with that. There is an art and science to niche selection, but business is inherently risky. The goal is minimize the risk and that's possible through careful niche selection. I have something in the works that can help with this
