Niche Marketing Lesson for Your Business from a Burger Restaurant

By Cheri Alguire

Now in the current market and more than ever, you may be tempted to define your clients as any and every one who walks past you down the street. Everyone needs a place to live, right? Concerns over the economy and a desperate need for lead generation may persuade you to apply the salt-shaker method of marketing: sprinkle it all over and hope that something sticks! But this panic-mode thinking could be the biggest mistake you make all year, resulting in wasted time, money and resources.

In order to get the most of your marketing efforts, in this economy especially, you need to follow the rules of niche marketing. In-N-Out Burger fast food restaurants are a perfect example of niche marketing. Never meant to appeal to everyone, never meant to take over McDonalds’ or Burger King’s market share, this successful hamburger joint has a limited menu consisting of only three different sandwiches: the hamburger, cheeseburger, and the "Double-Double" (double meat/double cheese.)

Though times have changed since the chain opened its first restaurant in 1948 in Baldwin Park, California, little has changed at In-N-Out. The menu - burgers, fries and drinks - is still the same basic menu customers have always enjoyed. Have they expanded their menu to have other kinds of sandwiches and entrees? No. Loyal burger eaters know that when they want a good quality burger, IN-N-OUT is the place to go. They do not spend marketing money advertising the latest Chicken Sandwich Spectacular because they don’t have one. They focus on what they do best.
As a small business owner, what lessons can you learn from IN-N-OUT?

Now is exactly the time to refocus your time, money, and resources in a similar manner. When all three may be in short supply, it only makes sense to concentrate on your niche, the group of people most assured to bring you certain returns, the group of people you want to work with and concentrate on.

If you don’t know them already, choose who those people are.

• Who best benefits from the specific services you offer—and deliver--better than anyone else?
• Who already has benefited from your services and is now a “Raving Fan?”
• Who do you know who “talks up” your services and serves as your Goodwill Ambassador?

After you have determined the WHO, analyze the WHERE.

• What do these groups you have identified have in common and where do they come from?
• Are those who benefit most from your services within a certain age group? Geographic location? Job or organization?
• Those who are your Raving Fans are clearly past clients and referrals, but where do you find them now?
• The Goodwill Ambassadors are clearly your sphere, but where do you find them? The family tree? The immediate neighborhood? Church? Clubs?

Then of course, you must apply the HOW. How will you reach that target once you have identified it? If seniors are the most likely to respond to your services and inventory, you will probably not concentrate solely on internet strategies But similarly, if you have a Gen-X or Y population clamoring for your services, you need to be well established with the latest technologies, communication platforms including social media networking sites, and expertise. Know how to reach your clients and where to spend your time and money.

And remember your goals. If you are planning to double your business within the next five years, then the HOW must include the resources you will need to market to and service your niche.

Don’t succumb to the fear that if you don’t court every potential client, you won’t have any clients at all. Make your niche as carefully designed a part of your business plan as your budget. If you focus your time and resources and serving the burger-loving clients the best way you possibly can, you will attract more of the same. Leave the chicken-lovers to someone else.

This is the true key to Niche Marketing!

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Coach Cheri Alguire has helped thousands of super small business owners and real estate professionals find their niche. Find about her book Branding & Marketing Mastery or her business planning guides at http://www.CheriAlguire.com

GOAL SETTING IN A DOWN ECONOMY

by Cheri Alguire

There is no shortage on advice on Goal Setting, and it’s one of the “basics” of business planning. But how do you set goals when sales are down and all you hear on the news is bad news. What is the alternative? Participate in the recession? Just sit back and let things happen to you? Good economy or bad, goal setting is pivotal. From professional athletes to motivational speakers to CEOs to Real Estate Agents to Super Small Business Owners to Stay-at-Home-Moms, Goal Setting is undeniably the key to success.

If you don’t know where you want to go, how can you create a plan? It is like jumping in the car with your family in it ready to go on vacation and you have no idea where the family is going. You don’t know if you are going across the county, across the state, or across the country. You can’t plan how long it is going to take, or the best way to get there, because you are not sure where you are going. You just get in the car and drive, hoping that something will come up that will give you direction, will give you hope. If your days seem like you are just hoping in the car and driving around without a plan, maybe it is time to do some goal setting.

• First, THINK LARGE. Don’t start with tomorrow, or even next year. WHERE DO YOU WANT TO BE IN FIVE YEARS? TEN YEARS? If you concentrate on how BAD things are, you will not be able to think big. Consider personal, financial, and business goals all on this wide open canvas of possibility. Don’t think in terms of How Will I? Think in terms of I WILL.

• Second, VERBALIZE your goals. WRITE them down in specific detail. POST them on your wall for a daily morning review.

• Next, VISUALIZE them. Create the picture of that success, or that vacation, or that volunteer activity. POST it.

• As a final step, ANALYZE your goals. Are they SMART? (Specific and Measurable?) Are they PURE? (Positive and Relevant?) Are they CLEAR? (Challenging and Appropriate.)

• And as a postscript, LEGITIMIZE them. REVISE and REWRITE them so that they fit both your dream and the “test” above. Confirm them with yourself and put them into action.

Remember that when Goal Setting, where you have been isn’t necessarily relevant. Now the course to set is where you want to be. It may be helpful to think of goals in terms of PERFORMANCE as much as in imagery. So when thinking of your goals, for example: an increase in the number of referrals you receive over the next five years, think not only of the physical number: say, 30%, but of the performance or action which needs to accompany that goal. Let’s take this example through the steps:

• I will increase our referral business by 30% in the next five years.

• I see a client appreciation picnic of 500 people catered by my favorite deli.

• Smart= I will measure the increase in the number of referrals year by year.

• Pure=I will reward clients and my team members with a company picnic to show our appreciation.

• Clear=I will rise to the challenge by increasing referrals incrementally each year from our current 20%.

• In terms of Performance/Action: I will hand write a thank you after each business transaction. I will observe birthdays and anniversaries through my email databank. I will strive for a 5 on every evaluation that is returned to me through my attention to detail and positive service plan.

• Make the goals FUN and MOTIVATING. If a new car or piece of jewelry or house motivates you, put that in your goal. Put little goals in along the way as well. Buy yourself that new designer purse when you hit a certain number of sales. Reward yourself along the way to hitting your BIG Goals.

Suddenly the goal is not just a dream, but a in specific direction toward your definition of success. Goal Setting should put a smile on your face! It’s the future you see in your dreams—achieved through your efforts and passion.

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Coach Cheri Alguire has helped thousands of people set and achieve goals far above anything they ever dreamed possible. If you want more information on the Business Planning Guide or her Goal Setting Coaching please visit http:// www.CheriAlguire.com

Some Traditions are Hard to Break

By Cheri Alguire

March 17th is St. Patrick's Day! The one day of the year I have a corn beef sandwich and Guinness (and I don't even like beer!) Some traditions are hard to break. And I am only a tiny percent Irish.

My Step-Grandfather's name was O'Brien and the parties he and my Grandmother used to have on St. Patrick’s Day took a month of planning. Like my Grandmother, I love to entertain! Some traditions are hard to break.

The economy has changed. We are not in the Industrial Economy anymore. Some still believe we are in the Information Economy. Others say we have moved to the Inspiration Economy. Yet, many of you still run your business and do sales and marketing like nothing has changed in our economy. Some traditions are hard to break.

If you would like to take the Super Small Business QwikScore and see if YOU are ready for THIS Economy, send me an email or request it through my website http://www.coachcheri.com/pages/contact-us.htm

I have given this quiz to all of my clients and the results are enlightening. I will also schedule a 20 minute coaching call to debrief your results if you are interested.

Some traditions ARE hard to break!

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Super Small Business Coach Cheri Alguire has partnered with hundreds of Small Business Professionals, Entrepreneurs and Real Estate Professionals helping them make money in any economy. Find out more at www.SuperSmallBusinessCoaching.com or www.CheriAlguire.com