Monday, April 7, 2014

"What Do You Do?" Tailoring Your Niche Statement

You can't make the sale if the person you're talking with has no idea what you do. And they won't give you half an hour to explain it to them. That's why it's important for you to take the time to craft a niche statement. A good niche statement isn't "one size fits all." A tailored niche statement, combined with your statement of purpose, gives enough information so the contact understands who you are, what your product is, and why you're calling. But don't give enough information for them to think they can make an informed purchasing decision.

Tailored niche statements:
1. Are only applicable on you initial sales call
2. Get the prospect's attention quickly so you can continue the conversation
3. Let them know who you are and why you're calling without providing too much detail.

You will leave them wanting more information about you. If you say too much, you give them an opportunity to develop a preconceived opinion that you're not a good fit for their needs. It's better to leave them wanting more information about your company. This can be a way to spark interest.

How To Tailor Your Niche Statement
1. Set up the framework for the rest of the call
2. Be direct and succinct. Think "elevator pitch." If you cannot describe your product to a prospect while on an elevator by the time they reach their floor, it's too long.
3. Be accurate and applicable
4. Purport a potential fit between the customer and your company
5. Convey your overall focus
6. Convey a stature or uniqueness (e.g. "We are the leading..." or "We are the only...")
7. Be tailored to the prospect based on information you've gathered about them. For example, if you're selling to a family doctor, you should emphasize family doctors in your niche statement. Then, when you're calling on a specialist, you should mention their specialty in your niche statement. Remember point #3 when tailoring your niche statement -- it has to be accurate and applicable.

The Erie Sales Club is a joint effort of four leading local businesses: Jameson Publishing, Marsha Marsh Real Estate Services, VertMarkets, and Howland Peterson Consulting.