Friday, August 8, 2008

Make More Money - Find a Niche Market and Fill It!

Trying to be all things to all people is a waste of your time and money.

We see it all the time: “XYZ Remodeling – We do it all!” “No job too big or too small.” “We do any type of work.”

Trying to be all things to all people is not a good idea. There are several reasons. A broad market requires more marketing in order to reach all of the prospects in that market. You will spend more money to reach more people.

Plus you would market differently for an addition versus a window installation. Marketing for a higher cost addition would call for different marketing materials.

And don’t take this the wrong way but you just can’t possibly know everything about everything! Drywall is vastly different than vinyl siding installation. There may be some jobs you are great at and some, well, not so good.

Instead pick a niche market in your area and build what those customers want.

How do you find a niche market? Keep an eye on your geographic area. Is there an aging housing stock that may need replacement windows or universal bath design? Are there newer communities in need of painting or outdoor living spaces? And don't forget to ask your customers, "What projects are you thinking about for your home?

Find out what the market wants and give it to them!

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