The Easiest Market To Sell To That's Hard To See

Friday, December 08, 2023

Do you know the best market for your business is actually already hidden inside of your business?

A lot of business service companies constantly struggle to attract customers. Even if a business is doing well or is considered successful, it's often just a fraction of the founder's or the CEO's vision.

But the thing that I've learned that holds these executives back is from a lack of specialization or focus within the business.

Coming from the Outsourcing industry, I've seen firsthand how competitive that industry can really be.

It's a lot of companies that handle customer care, back office or sales outsourcing for big companies things like call center support, invoice processing, claims processing.

The contacts are millions per year per client but many of these companies find it hard to acquire customers.

They're viewed as a commodity. They endlessly respond to RFPs and hope someway to get selected.

But deep down they feel out of control. They don’t feel capable to actually grow their business and land accounts consistently.

They are constantly bombarded with questions from prospects like: 'What makes you different?' What do you specialize in? How are you different from XYZ company? A few years ago, I realized that to stand out, I needed to verticalize – to pick one industry or use case and go all in on it and become the best in the world on it.

But at first I didn't know what to specialize in.

Then by accident I started looking at my existing customers and thought I don’t even like working with all of my customers.

Who were the customers that I liked working with that were the happiest with our services, churned the least, paid us the most, and where we completed the least.

After looking at my client list I realized the big opportunity was in handling phone orders for large restaurant chains.

That's when I decided to fire my other clients and rebrand and create Order Solutions a restaurant call center focused exclusively on that one vertical.

We tailored our go to market strategy and put together sales and marketing materials to for that one use case and that one industry.

You know what happened? We went essentially o to millions in ARR without raising venture capital and bootstrapping profitably to high EBITDA and scaling from just a few employees to 300 in just 24 months.

All from mentical focus on 1 use case and 1 industry. It allowed us to compete against the big public companies in my space and stand out because they were generalist and I was a specialist.

So, if you're in a B2B business, look at your current customers. Who are your best buyers? Who do you like working with? Who pays you the most, who has the lowest churn rate, and who is the easiest to service. What industry are they in? What size company are they? What's their key use case?

Then as an experiment rebrand and commit fully to that niche.

Or, refocus your go-to-market and sales efforts on that one market. Go after your existing clients' competitors and sell them the results or case studies of what you've achieved for your existing clients.

You already have credibility and social proof. Just magnify it one area.

Your case studies are what make you stand out, and your competitors can't replicate those. Those are yours and yours only.

So, block out time on your calendar to analyze your current customers.Look at the commonalities between your best clients.

Interview them and pick their brains if you have to. Ask them why they enjoy working with you and what makes you differnt. This information is gold for your go to market strategy and will help you stand out in the market.

If you want more help finding your key market. It’s a chapter in my book The Art of The Enterprise Sale.

It’s a free e-book that's designed as a playbook and workbook to get you to take action and plug in your business to it. It’s totally different than a normal book.

If you want free instant access. Click the link below or the link in my bio and grab it.

Get The Art of The Enterprise Sale Book

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