Last time I told you that if you cast a net too wide when you’re selecting your target market… your marketing message becomes vague... And you’re going to have a hard time compelling people.
Well, there’s another thing you’re missing out on when you go wide: You’re actually leaving money on the table. Sounds contradictory but it’s true.
Try this...
Walk into a drug store and head to the pain reliever aisle. Look for Excedrin Extra Strength...and Excedrin Migraine. Then, compare the ingredients. What do you notice?
Hint: They’re IDENTICAL!
Now notice the price…
Funny, isn’t it. For the exact same pill, with the exact same ingredients…
Often you pay a 30% premium for Excedrin Migraine over Excedrin Extra Strength. And the only reason you’re paying more is because it’s packaged to tell you this is good for migraines.
Here’s another example I always use that illustrates the power of specificity really well...
Here’s another example I always use that illustrates the power of specificity really well...
There’s a photographer in UK that has a website called WeShootBottles.com. When you go to that website, all you find there is beautiful photos of bottles.
Now here’s the thing, if you have a product packaged in a bottle, you’re going to feel like you’ve found home. Because all around you can see beautiful photos of products in bottles. And you think, "this is the photographer I was looking for!"
On the surface, this might seem like a limiting thing for a commercial photographer… to make photos of just one thing. However, nothing is stopping him for running another website called WeShootCans.com…. and so on.
Narrowing your focus is much more powerful than having a laundry list of all the things you can do for anyone and everyone...
And by making your product or service specific like that, you’re telling your prospect, “This is made specifically for you. Because I understand you.” That’s why you can add that 20%… 30%… 50%… premium on the price.
To put it simply, there’s money in being specific...