One of the greatest things about being in the marketing business is that you can focus on many different industries. Many marketing firms will place emphasis on one or two niche industries so they can become experts at the trade and fully understand the target audiences. When bringing on new clients, the prospective customer usually wants to know what other firms in their field you have provided successful results for. Having a focus is great but in this economy, diversification is even better.
For example, many San Diego Internet marketing companies in the recent past have focused primarily on the real estate market…specifically the new home building industry. This provided a great amount of new business and revenue especially because San Diego had been leading the housing boom. Now due to the credit crisis and economic downturn, the housing industry is no longer a profitable channel on which to focus. Builders no longer have the budget available for much advertising and marketing. Many a San Diego internet marketing company or media firm no longer exist because of the housing crash. And many have had to find new industries on which to target.
Diversification these days is not only imperative but it can be quite fun as well. Companies across the board are cutting budgets and no one is immune to the recession. However, Internet marketing still remains one of the most cost effective ways to advertise and grow a business. If you have an Internet marketing company that has been focusing on one or two niche industries, you may want to consider some of the suggestions below in order to diversify and protect your company.
- Do some research and find out what industries are really spending a lot of money in Internet marketing. These industries could range from pharmaceuticals and automobiles, to health and wellness (and beyond).
- Choose a few new industries and get to work.
- Create a training program centered around not only selling to these industries but also for servicing them. Learn who the target audience is.
- Depending on what kind of industries you choose you need to determine what kind of marketing you are doing (for example is it B2B or B2C).
- Create a list of companies to target and train your sales people on how to pitch to them.
- Create professional presentations specific to the company you are presenting to so they know you have done your research and understand their brand.
- Target small to medium size firms in that industry first before going after the big boys. You will need to show the larger companies that you have experience in their field.
- Make the first few clients in your new industry your main priority so you can not only learn a great deal but also have some happy customers. Internet marketing is largely referral based, so your happy clients become an instant sales channel.
- Get good testimonials from your happy clients and put them on your website for the new clients to see.
- Once you have a few happy clients in one industry, choose another industry and do it all over again. Before you know it, you will have a well diversified roster!