{"id":44898,"date":"2021-09-09T17:01:07","date_gmt":"2021-09-09T17:01:07","guid":{"rendered":"https:\/\/getflywheel.com\/layout\/?p=44898"},"modified":"2021-09-09T17:01:07","modified_gmt":"2021-09-09T17:01:07","slug":"positioned-for-profit-capitalizing-on-a-niche-market","status":"publish","type":"resource","link":"https:\/\/wpengine.com\/case-studies\/resources\/positioned-for-profit-capitalizing-on-a-niche-market\/","title":{"rendered":"Positioned for Profit: Capitalizing on a Niche Market"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">Small and mid-sized agencies looking to increase their revenue and client base certainly have options. Unfortunately, when you\u2019re in the throes of everyday operations, it can become difficult to track down quality clients with whom you can build a long-term partnership. For many agencies, that translates into taking whatever work comes down the pipeline.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Whether you\u2019re concepting a creative direct mail campaign for a hospital, building a website for a construction company, or managing social media platforms for a new business, the wide array of industries your team has to juggle stretches the boundaries of their expertise\u2014and their capacity to retain new information\u2014daily.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">While not every solution is right for every business, many agencies combat the mental strain of working with clients in multiple industries by serving a specific niche!<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In this article, we\u2019ll discuss:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"#benefits\">The benefits of serving a niche industry as a creative agency<\/a><\/li>\n\n\n\n<li><a href=\"#various\">Various niche markets to explore and who you\u2019d work with<\/a><\/li>\n\n\n\n<li><a href=\"#choose\">How to start the process of finding your niche<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/getflywheel.com\/growth-suite\/\" target=\"_blank\" rel=\"noreferrer noopener\">How Growth Suite<\/a> <a href=\"#GS\">helps agencies better serve the needs of niche clients<\/a><\/li>\n<\/ul>\n\n\n\n<hr class=\"wp-block-separator has-css-opacity\"\/>\n\n\n\n<figure class=\"wp-block-image aligncenter size-full\" id=\"benefits\"><img decoding=\"async\" src=\"https:\/\/getflywheel-images.s3.us-east-2.amazonaws.com\/uploads\/2021\/09\/Niche_1.png\" alt=\"\" class=\"wp-image-44902\"\/><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Benefits of Serving a Niche<\/strong><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Choosing to serve a niche market can <a href=\"https:\/\/agencyanalytics.com\/blog\/how-to-grow-digital-agency\" target=\"_blank\" rel=\"noreferrer noopener\">increase your potential for growth<\/a>. This fact almost seems counterintuitive\u2014how can limiting your client pool increase your revenue? Well, for starters, it\u2019s easier to&nbsp; <a href=\"https:\/\/databox.com\/agencies-choose-niche\" target=\"_blank\" rel=\"noreferrer noopener\">showcase your skills<\/a> to potential clients when you can clearly illustrate your team\u2019s effectiveness within their industry through case studies and real success stories you\u2019ve facilitated.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">This hyper-focus on a certain market sector also helps you navigate the highly competitive marketing landscape. For example, if your agency works almost exclusively within the education sector, your expertise will set you apart from other, less focused teams when you\u2019re pitching an idea to new education-focused clients. And often, the clients you\u2019re helping will be even more likely to refer your services to other organizations within their industry.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Your team members also get the benefit of learning and ascribing to specific industry trends. When you\u2019re deeply involved with a certain industry, you\u2019re more likely to notice market changes, understand client messaging needs, and cater your services to that sector.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">So if you\u2019ve got a copywriter who\u2019s crafting copy for websites, it\u2019s much easier for them to write three websites for home improvement companies offering similar services than it would be to learn, understand, and write about companies in three unique sectors. When your team is focused, they can often move more quickly and effectively\u2014and, therefore, more profitably.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Additionally, serving a niche gives you the ability to bundle, create, and optimize a list of service offerings and <a href=\"https:\/\/www.alchemyaccountancy.com\/news\/blog\/choose-niche-marketing-agency\/\" target=\"_blank\" rel=\"noreferrer noopener\">create processes<\/a> that garner the best results for your clients. Creating a streamlined process and knowing exactly what works within your industry means you can take on more work without sacrificing quality.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">For example, an online retailer who needs new products uploaded and sold-out products removed from their website every month may benefit from you bundling those costs into their standard website maintenance fee and proactively doing the work. However, charging that higher cost to a client whose website needs less maintenance wouldn\u2019t make sense.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Once you\u2019ve decided that serving a niche market is the best growth strategy for your agency, it\u2019s time to identify your prospective customers by deciding which industry you\u2019re going to serve.<\/p>\n\n\n\n<figure class=\"wp-block-image aligncenter size-full\" id=\"various\"><img decoding=\"async\" src=\"https:\/\/getflywheel-images.s3.us-east-2.amazonaws.com\/uploads\/2021\/09\/Niche_2.png\" alt=\"\" class=\"wp-image-44904\"\/><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Common Niche Markets Agencies Serve<\/strong><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">You\u2019ve probably dipped your toes into a lot of these industries through your work, but narrowing down <a href=\"https:\/\/sevenfigureagency.com\/how-to-choose-your-niche\/\" target=\"_blank\" rel=\"noreferrer noopener\">the right niche for your agency<\/a> can help you fine-tune your offerings and speak more directly to the clientele you want to reach. Your business development team will thank you, as they\u2019ll have more success at finding\u2014and winning\u2014new clients.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Below, we outline a few of the common niche industries that agencies serve, as well as some of the individuals and businesses they could pursue to discuss potential partnerships.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><em>Construction &amp; Home Improvement:&nbsp;<\/em><\/h4>\n\n\n\n<p class=\"wp-block-paragraph\">Drywall installers, painters, basement waterproofing companies, remodeling companies, electricians, plumbers, HVAC installation and repair companies, concrete &amp; masonry contractors, general contractors, roofing companies, landscaping &amp; lawn care providers<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><em>Communications &amp; Media:<\/em>&nbsp;<\/h4>\n\n\n\n<p class=\"wp-block-paragraph\">Public relations firms, book publishers, periodical publishers, broadcast media companies, radio stations, movie theatres, directory publishers, sound mixing and mastering companies, recording studios, internet publishing &amp; broadcast companies<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><em>Education:<\/em>&nbsp;<\/h4>\n\n\n\n<p class=\"wp-block-paragraph\">pre-k &amp; daycare centers, elementary schools, middle schools, high schools, parochial schools, uniform retailers, colleges &amp; universities, technical &amp; trade schools, school administrative offices, specialty schools (e.g. schools for the deaf &amp; blind), online schools, charter schools, learning centers, tutoring services, manufacturers of educational tools and products, educational content publishers, education investment services &amp; policy specialists, education consulting firms<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><em>Energy:<\/em>&nbsp;<\/h4>\n\n\n\n<p class=\"wp-block-paragraph\">electrical distribution companies, electrical generation companies, gas companies, propane providers, fuel extraction, fuel transport, fuel sales, oil &amp; petroleum manufacturers, gas station franchises, nuclear power producers, renewable &amp; sustainable energy companies, alternative fuel companies, solar panel manufacturers &amp; installers, energy policymakers<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><em>Finance:&nbsp;<\/em><\/h4>\n\n\n\n<p class=\"wp-block-paragraph\">banks, independent accountants, accounting firms, insurance agents, credit unions, check cashing institutions, lending companies, credit companies, stock brokerages, consumer-finance companies, investment banks, venture capital firms, financial analysts<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><em>Fashion:<\/em>&nbsp;<\/h4>\n\n\n\n<p class=\"wp-block-paragraph\">boutiques, salons, nail artists, hair colorists, makeup manufacturers, clothing &amp; merchandise manufacturers, social media influencers, retail stores, online retailers, textile manufacturers, purse &amp; handbag companies, embroiderers, designers, fashion magazines &amp; publications, tailors, wig makers, non-profit clothing organizations<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><em>Healthcare:&nbsp;<\/em><\/h4>\n\n\n\n<p class=\"wp-block-paragraph\">hospitals, independent doctor offices, dentists, medical specialists, nursing homes, assisted living homes, travel nursing companies, medical schools, daycares, medical devices sales companies, medical device manufacturers, healthcare logistics companies, blood banks, plasma donation centers, dialysis centers<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><em>Hospitality &amp; Transportation:<\/em>&nbsp;<\/h4>\n\n\n\n<p class=\"wp-block-paragraph\">hotels, resorts, restaurants, concert halls, arenas, caterers, party venues, wedding planning companies, party planners, car rental companies, cab companies, alcohol &amp; food distributors, spas, government transit systems, airports<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><em>Manufacturing &amp; Packaged Goods:&nbsp;<\/em><\/h4>\n\n\n\n<p class=\"wp-block-paragraph\">companies that manufacture textiles, food, beverages, tobacco, leather, rubber, plastic, wood, paper, chemicals, metals, machinery, computers &amp; electronics, transportation, furniture<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><em>Real Estate:<\/em>&nbsp;<\/h4>\n\n\n\n<p class=\"wp-block-paragraph\">independent agents, real estate companies, new housing developments, HOAs &amp; community centers, brokerage firms, mortgage lenders, property management companies, professional home services, home inspectors, land developers<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><em>Tech\/software:&nbsp;<\/em><\/h4>\n\n\n\n<p class=\"wp-block-paragraph\">hardware manufacturers, software developers, technology companies, phone and computer repair shops, electronics retailers, cloud computing companies, technology consulting firms, artificial intelligence research &amp; development companies<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The takeaway here is that choosing a single industry doesn\u2019t have to mean putting a chokehold on the number or breadth of opportunities you have. Instead, it better positions you to capitalize on the opportunities that are right for you.<\/p>\n\n\n\n<figure class=\"wp-block-image aligncenter size-full\" id=\"choose\"><img decoding=\"async\" src=\"https:\/\/getflywheel-images.s3.us-east-2.amazonaws.com\/uploads\/2021\/09\/Niche_3.png\" alt=\"\" class=\"wp-image-44906\"\/><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>How to Choose Your Niche<\/strong><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\"><a href=\"https:\/\/digitalagencynetwork.com\/choosing-a-niche-for-your-digital-agency-which-industries-to-focus-on-covid-era\/\" target=\"_blank\" rel=\"noreferrer noopener\">Finding a niche industry<\/a> to serve is easier than you might think. First, take a look at the clients you already serve. Do you notice a theme? If so, follow that path for a great place to start on your hunt for the perfect niche. Your already happy clients will be more than willing to spread the word about their awesome results to others in their network.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">If your grab-bag of clients is still too varied to narrow down, talk with your team and see what clients they like to work with, what clients they find easy to work with, what clients they dislike, and what clients they find hard to work with.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">You may notice, for example, that your team loves how it feels to help nonprofit clients but finds them difficult at times, while real estate clients are easier but less enjoyable projects for the team. Take these considerations to heart as you decide what direction you\u2019re headed.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Then, take a look at your services, and decide whether or not they\u2019d be a good fit for the industries you have in mind. Certain market sectors will need services that others may not require, and it\u2019s best to focus your energy on industries that rely on services you already excel at. So, if you\u2019re great at social media marketing but less adept at email campaigns, fashion and real estate may be more lucrative sectors for you than construction or energy.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Finally, look at <a href=\"https:\/\/www.marketing-interactive.com\/which-industry-spends-most-on-marketing\" target=\"_blank\" rel=\"noreferrer noopener\">which industries are spending the most on their marketing efforts<\/a> and which are the most underserved. You may decide that you\u2019re going to fight for clients in high-paying markets\u2014or you may find that you\u2019re better off spending your time taking care of an underserved market sector that pays a little less but has lots of work to be done.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">It\u2019s simply a matter of taking in all the information you can find to make the best decisions for the future growth of your agency.<\/p>\n\n\n\n<figure id=\"GS\" class=\"wp-block-video\"><video controls src=\"https:\/\/getflywheel-images.s3.us-east-2.amazonaws.com\/uploads\/2021\/06\/GS_Dashboard.mp4\"><\/video><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Using Flywheel Growth Suite to tailor your services<\/strong><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\"><a rel=\"noreferrer noopener\" href=\"https:\/\/wpengine.com\/flywheel\/\" target=\"_blank\">Flywheel Growth Suite<\/a> allows agencies and independent website designers and developers to manage multiple clients and their sites all from one platform. There are also a few unique ways you can optimize your Flywheel Growth Suite account to better serve clients within the same industry.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Flywheel Growth Suite\u2019s client management tools make it easy to understand and keep track of all the small yet important differences that make each client unique. Say you\u2019ve chosen to serve the home improvement market, and you\u2019re making websites for three waterproofing companies. For the sake of this example, let\u2019s say one focuses on residential work, one focuses on commercial work, and one does both but in a different state.\u00a0<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Client profiles within Flywheel Growth Suite allow you to enter and save specific notes about each of these three clients. This feature helps you keep track of the differences that make each unique and help you foster relationships with them, whether it\u2019s remembering key project details or a reminder to send your point of contact a gift card for their birthday.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Flywheel Growth Suite also gives users the ability to create and bill for unique, tiered service offerings. Service creation capability means you can tailor your services to the specific needs of your clients and their industry.\u00a0<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Finally, the ease of use your clients will find through the client portal will make you an asset to them as opposed to another arm of their business that they have to manage. It\u2019s easy for them to jump into the portal, look over and pay their outstanding balance, and review client reports to see all the things you accomplished for them over the last billing cycle.\u00a0<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Because every report, as well as the portal itself, is branded to look like it came straight from your desk, your clients will never forget what an asset you are. And while they\u2019re happy, you\u2019re free to take on more clients, make more money, and take a bigger piece of your niche market share.<\/p>\n\n\n\n<h3 class=\"has-text-align-center wp-block-heading\"><strong>Ready to take charge of your agency\u2019s growth? Talk with our team about how <a href=\"https:\/\/wpengine.com\/flywheel\/\" target=\"_blank\" rel=\"noreferrer noopener\">Flywheel Growth Suite<\/a> can help you grow more effectively in your new niche market!<\/strong><\/h3>\n","protected":false},"excerpt":{"rendered":"<p>Small and mid-sized agencies looking to increase their revenue and client base certainly have options. Unfortunately, when you\u2019re in the throes of everyday operations, it can become difficult to track down quality clients with whom you can build a long-term partnership. For many agencies, that translates into taking whatever work comes down the pipeline.&nbsp; Whether<span class=\"tile__ellipses\">&hellip;<\/span><span class=\"tile__ellipses--animated\"><\/span><\/p>\n","protected":false},"author":318,"featured_media":44900,"template":"","resource-topic":[],"resource-role":[],"resource-type":[916],"class_list":["post-44898","resource","type-resource","status-publish","has-post-thumbnail","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.9 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Positioned for profit: capitalizing on a niche market<\/title>\n<meta name=\"description\" content=\"Finding the right niche market to serve is an easy way to optimize your agency for better success. 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