Don’t be Afraid to Turn Prospects Away

You know the old adage, “If you try to please everyone, you please no one.” The same is true of your marketing efforts. Generic positioning designed to appeal to everyone doesn’t stand out.

Make your ideal client type clear.

It’s okay to be exclusionary. Part of your well-thought-out value proposition is defining exactly who you want to work with. This includes both demographics (age, gender, income, geography, etc.) and psychographics (how they think, aspirations, and other psychological criteria).

The more defined your target audience for blogs and other marketing, the more impactful your efforts will be since you’ll have a clear understanding of exactly what their needs are and how to address them.

Naturally, when you define who you will work with, you’re also excluding folks who don’t match that description. For example, if you specialize in working with female healthcare professionals, then men and non-healthcare professionals will likely determine you’re not the firm for them.

Limit your audience to achieve key benefits.

While it might feel counterintuitive, limiting your audience has several advantages, for example:

• Increased referrals – clients are more likely to refer you to qualified friends, family, and colleagues if they understand who you prefer working with
• Decreased competition – many firms cater to everyone but defining your target market limits competition within your defined niche
• Opportunity to share more targeted content – understanding the unique needs of your audience allows you to develop and share more relevant information they can use and share within their network

Content that appeals to a specific niche audience moves the sales needle.

Here are a few ideas for niche content you might incorporate into your niche marketing efforts:

• “80% content” – videos and articles that answer questions you spend 80% of your time talking about during client and prospect meetings
• Case studies that your audience will find valuable
• Product and service claims, e.g. “our people make the difference”
• Who you’re not a good fit for, e.g. “If you prefer to take a hands-on approach to managing your investments, we’re probably not the firm for you”

Of course, you don’t have to make exclusionary statements such as in that last example. But the bottom line is you shouldn’t fear to talk directly to your defined target audience because of whom you might turn away. The positive effects of target marketing are much greater.

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Sarah provides custom marketing and social media consultations for LPL Financial advisors and investment programs. In this role, she consults with and supports clients in effectively marketing their business in today's increasingly competitive environment. View full bio.