We’ve all done it; we’ve taken a customer on who we know we shouldn’t have taken, and once that customer is there we just don’t want to let them go.
I find a key to managing your niche is tracking how often you say no to potential customers. If you’re not saying no a significant amount of the time you don’t have a niche. You might have a market segment that you work with but you don’t have a niche.
If you’ve been to any sales or marketing seminars you likely have been told that you need to segment your customers on some scale from A to D. You also have likely been told you should nurture the A customers, promote the B customers and demote the C and D customers.
I often talk about strategic marketing. When I first start the conversation many people will ask what the relevance is for their company and themselves. This is a good question and one worth taking a few minutes to talk about.