Too many small businesses try to stay general enough so that they can capture what they think is a larger market.
The risk with this is that they won’t become known for serving a particular type of customer.
If you were a videography company who made general promotional videos you might get enough work to pay the bills and people might like your particular style but you’ll still have all the issues have with chasing down work haggling over price and working to unrealistic demands of difficult customers.
If however, you decided to become a videography company that specialised in promoting construction companies you can tailor your marketing very clearly towards that market.
Done correctly this will mean that prospective customers within this segment (construction companies) will start to think of your company when they require a video to be produced not just the generic video company down the street.
Additionally, those who have used you can be furnished with the information to pass on to others they deal with, within the segment in order to provide word of mouth recommendations (which is less likely with a generic company).
Very quickly you can become the known brand within a small target segment and capture a lot more value than if you had stayed a general video company taking whatever contracts were available and having generic marketing for generic services.
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