Introduction to the Marketing Lyfe Podcast Ep. 121
Episode one 21 of the marketing life podcast today, guys, we’re gonna be talking about pros and cons to niching in a specific industry. So let’s not waste any more time guys and dive right in.
“Niching” to Scale Your Business
So guys for the last couple of years, I’ve had a lot of people say, you need to niche. You need to niche. You need to niche. You need to niche. You need to niche. Anyways. They’re always telling you that you need to niche into a specific industry, and then you can scale your business.
Pros and Cons to Niching
So I want to talk about some pros and cons. This is just kind of me brain dumping through this because I like the concept of niching, but I also don’t like the concept of niching.
Pro: Use Ad Copy
So the concept of niching that I actually do like is you can become, you can like take lots of ad copy and use it for all of those clients. So you could have, you could go through write 50 headlines and those 50 headlines will work off for all 50 of those clients, which is awesome. Right?
Con: Going to get boring
But the cons to that, in my opinion, is it’s going to get boring. You’re going to get bored, just copying and pasting for 50 different clients. Um, that is the con in my opinion,
Pro: Understand the Industry In’s and Out’s
another pro is you can really understand that industry inside and out. So I’ve actually worked a lot with addiction and the addiction treatment side of things. And what I’ve learned. I’ve actually learned a lot about that industry, and I’ve learned a lot about what’s going on, how it works, and I’m starting to become like an expert. Understanding the addiction treatment world and how the addiction treatment things happen. And I think that’s awesome, right? Because I’m like starting to kind of niche and it’s great and I’m learning and I’m becoming an expert in that industry,
Con: Repetative and Boring
but the cons are just, again, going back to it, niching to me, it could kind of start to get boring just by copying and pasting and having a thousand clients that are all the same thing.
Um, it’s just, I feel like it doesn’t allow you to grow and learn and progress if you’re just constantly learning about the same industry.
Pro: You Can REALLY Scale Your Business
Now, some of the pros to niching. I’ve obviously kind of bashed out a little bit, but some of the pros to it is you can actually really scale your business. So if you know the ins and outs, all the loopholes, all that copy that works and so on and so forth. You can truly scale your business and take on a lot of clients a lot faster if you do niche.
Pro and Con: Specializing in Big Companies
Um, I’ve seen a lot of companies that just specialize and they’re multimillion dollar companies, agencies. Um, but the downfall to all this, in my opinion, um, if you, if you do not, you might not be able to scale your company is big. But the pro side to it is you will understand.
Pro: Diversifying Yourself in Different Industries
I think you’ll be, in my opinion, you’ll be a better marketer because you’re constantly having to diversify yourself in each industry. You’re going to have to know all the ins and outs of all the industries. So for example, I know in the addiction treatment world that you have to use a thing called legit scripts to run Facebook ads. And then I know over in the home services side of business cost per clicks are way higher than the eCommerce. And I actually see that all the time because I’m running different campaigns in different businesses. So it allows you to see more, right, see more of what’s going on in the business.
So the thing is, if you niched in, if let’s just say I niched in home services, I would know nothing about legit scripts. So I know that legit scripts, you have to have it for addiction treatment. You have to have it for supplements. You have to have it for, um, CBD type campaigns. So it just, again, to me, it just allows you to diversify. I understand Shopify because I’ve, I work in an eCommerce store. I understand WordPress because I work with lead generation type stuff, just get generating leads and sells. And I get a play in Facebook and I got to play in Google and I got to play in YouTube and all of those industries.
Con: More Industries, Less Scaling Your Business
But like I said, the true downfall to all of it and what I’m learning and what I’m realizing is if you dabble in all of the industries, that it’s harder to scale your business because you have to diversify yourself so much across the board.
Pro: You will make more money
So pros to niching you’ll make more money
Con: Not Learning As Much
cons you may not learn as much in the entire space of online marketing.
Summary of Niching
So keep you guys posted with this. It’s something I’m thinking about a lot lately about niching and figuring out if I do want to niche and more than likely. I’m going to, to be quite honest, I’m going to start niching a little bit in what industry. Um, I do not know, but I will say that I will always want to kind of dabble in all the industries. But I, I will start niche. Defying niche. Defying is kind of my own word. I just made up. Um, into a specific industry. Um, so I can scale more under scale more and really grow the business. My business to where I want it to go.
Conclusion to the Marketing Lyfe Podcast Ep. 121
If you guys want to learn more about all my marketing and things like that, feel free to reach out to me at taylortimothy.com. And thanks for listening to episode one 21.