What are the best niches B2B to go for. FAQ

Created by Comet Suite Support Team, Modified on Thu, 12 Jan 2023 at 02:15 AM by Comet Suite Support Team

Quite often. So Paul's question is, what are the best niches in B to B to go after? And that's a great question. And which ones to market via cold email or targeted ads? So we dropped an answer to that in the Facebook group, and my answer was so, first of all, think about the value of a client. Right? Because and this is one of my favourite sales questions when I get onto a sales call, one of the first questions when it's the right time to ask, I don't lead with this, but one of the questions that's the most important that I always ask is, what's the value of a client to you, Mr. Customer? So I'm doing a sales call and tell me about your business. Oh, amazing. Okay, so you're a shipbuilding company for commercial I don't know, whatever you do. Great. Fantastic. Chat, chat, chat, chat, chat. Super important for me. What's the value of a customer for you? And that question will determine the niche that you're going after. Paul, to answer your question, why? Because imagine if the value of a client is $5,000, right? Now, you know that this lead systems positioning with your GHL and everything like that.

I'm not sure what what your, what your sales price is, but let's say that you're selling for 29 97 annual, right? $3,000 as an annual licence for leads and GHL and, you know, all that kind of stuff, you can legitimately say to your client. So if we get you one sale in a year, this is paid for itself right now. It makes it an absolute no brainer for that client. So Paul, on the flip side of that, maybe a business coach, their ideal client or their customer value is five grand, right? Easy sale. Maybe a landscape gardening company, an average sale is $20,000. Easy sale. Right. Because again, we have to make one sale for you in three years. All right, man, let's get started. Right? So if you've got a value of a client that pushes past the $1,000 mark, then you're in the right space. But let me flip it around. What if the value of the client is less than $1,000? Okay, so thinking about let's go with, I don't know, let's stay with a restaurant, just as an example. So a restaurant has a lifetime value or a customer value of $50, right?

So for them to justify your price, you got to be able to deliver them ten new sales a month just to break even. Right. And that that's a heck of an ask. So how do we choose a niche to go after? My first port or my first thinking is to make sure that we're creating an opportunity for the customer to have success with our programme. And we know that maybe the first month they'll have a few inquiries coming through. We want to make sure that they're sticky, that they're staying with us long term. So we want to set that expectation that that first month, we're about setting it up. We're about getting those emails out. We're about having those initial conversations. We're about putting people into the funnel. Second month, now we're are starting to have those sales calls. We've got the follow up. Your sales cycle might be six weeks. Okay, great. Now we're starting to see a sale coming through. If I can get you a sale here, a sale there, within the first two to three months, this whole system is paid for itself for the next year. Cool stickiness guarantee, right?

So thinking about the value of a customer is important. And now to answer the question in terms of niches, how do you do it? Now, Star is a business coach, and we talked before about skills in a particular area, being able to talk the language, relate to the questions. You don't need to be an expert in a niche to enter that niche, but you've got to damn well be prepared to become an expert quickly, because every niche has different language, different verbiage, different things that they say, different problems, and it will be the same. If you work with space exploration companies, I guarantee you they'll have their own language. They'll talk about, I don't know, launches and control panels and boards and orbits. Like, you'll need to know what they talk about. So you don't need to be an expert to enter into a niche, but you've got to damn well be prepared to become one quickly. One of our good friends in the white label suite Group and Comet is a gentleman named Curtis who's really found his space. But he had one client that he had success with who ran a med spa, right?

Finding leads in the local area and bringing people in and med spa, okay? Amazing. Great success. So he literally then said, okay, this is my space. And he went to the med spars around and was overwhelmed by response, and he knew the language, and he like, amazing, because Curtis is like this unbelievable, super tough army guy with tats everywhere doing med spars. But that's where he found his amazing success. Now, the other side of that story was that wasn't his zone of genius. It just happened to fall into his lap. His zone of genius turned out to be coaching, physically coaching people, using his military experience to help them have emotional breakthrough. So now he runs retreats and weekends and army camps and all kinds of stuff, and he sold that med spark component of his business, which netted him some nice cash. But which niche should you go after? So my post that we put up there, a little tip is use the word commercial, okay? Because B to B, the tool works best in a B to B environment. So use the word commercial. What I mean, commercial real estate, commercial cleaning, commercial insurance, commercial landscaping, commercial education, commercial use the word commercial, right?

Because that automatically puts you into a B to B space. The other tip with that is walk into an environment that you're familiar with and look who supplies that environment. Let me give you an example. Walk into a restaurant, take a seat, have a coffee, and look around. Who supplies the furniture that you're sitting on? It is a hospitality furniture provider, okay? Who supplies the staff uniforms? Who supplies the coffee machine? Who supplies the alcohol in the back shelf? Who supplies the cleaning? Who supplies the commercial ovens? Who supplies the kitchen fit out? All of those answers are B to B, okay? So in that space, b to b So typically when we think B to B, we start to think coaches, consultants, that kind of space. And that's amazing, like comment. That's where we really found a strong suite, right, in the coaching consultants and that kind of space. But there's so much in the commercial space outside of that. The other tip with that is think logistics and warehouses, man. The money in logistics and warehouses and trucking companies is huge. One of our clients and again, simply from history, one of our clients here in Australia sells weighing equipment like big scales that the trucks drive in and out.

So they go to a warehouse, they put in this way bridge equipment. The truck drives in empty, drives out fully loaded, and the weighing equipment tallies up the thing, and it's charged per weight and all that kind of stuff. The average value of a sale for that client is $250,000. Right? So for us to be able to go through and say, hey, look, this system is going to cost you five grand a year. Walt so you're telling me that I need to find you one client in the next 25 years to be in front. It's like, no, you need to find me one client in the next 100 years to be in front. Okay, cool. Well, we'll probably make that happen because I can go warehouses pretty quickly for you, right? So commercial, commercial, anything with commercial in the word is going to help you with your B to B. Chris nice hacker, man. Love you. Good to see that behind you. So, yeah, anything in the commercial space? So I talked about going into a restaurant and finding, like, who supplies it? Stand in a school and look around you like, okay, educational supply companies, hospitality supply companies, that kind of stuff is going to steer you well.

Paul does that help everybody? Does that help give you some ideas about niches, being able to focus in? Think about that question again from a sales environment. What's the average value of a customer to you when I'm talking to a client? If I can get that answer from them, I've got a sale. And this is a little tip, my little sales tip for the day. Sometimes people don't want to tell you right? They'll be like, you're not Barry's. No, because they're embarrassed. They don't want to say, I charge $50,000 for my services. And if they are putting you off, it's important to get the answer. And this is my tip. High ball, low ball expectations. This is what I mean, right? Yeah. You know, it depends on the client what we're going to do. They're embarrassed because they don't want to tell you that they charge $50,000 for their services. Right. So I go like this. Okay, well, what is it? This is a million. Oh, no, it's not a million. No, we didn't share. Oh, cool. Okay. What what are we talking? $10? No, it's not $10. We're much more than that. What are we?

What are we, rock? Somewhere around 20 or 50 grand? Yeah, somewhere there. Closer to 50. Yeah, better. About 50. Gotcha. Highball low ball expectations, right? Get an answer to that question. It's super important. What's the average value of a customer to you? As soon as you have that answer, you can put it against your services and value stack. Right? So now it's average value of a customer is $3,000. Amazing. So all I've got to get you is one client every six months. Cool. Let me show you how we can get 20% open rates. Funnels, built in calendars here. Your sales team is taking over. Can we get you one client in six months? I think so. Let's get to work, right?

Yeah. Thank you. You reach out to these wholesale, commercial companies through the software. You do cold email, like Chris. Cold email always work because I did do a trial one myself, and I did insurance agents and I put them into a funnel, and nine out of 20 of them opened the email, yet none of them click to watch, dude.

Okay, this is such a cool point. And Paul, thank you so much for bringing it up. Right? So, guys, how do we get results? Because it's where we focus. And Paul, you've nailed it. You've absolutely nailed it. So here's the rules, right? I sent out 100 emails and I got three opens. But let me tell you that one of two things is a problem. Either your email setup is not right and you go into spam, or your subject line suck. Right? I can tell you Categorically, it is one of those two things. So first things first, I'm going to cheque your email setup looks like it's all great. Let me look at your subject line. Dude. That's why nobody's opening your email, right? So that is area of focus. Number one, low open rates means either your email set up is wrong or your subject line suck. Okay, cool. Move that problem aside. Next one. Paul's example. Man, we got amazing open rates. Like, that's awesome. But nobody actually clicked from my email. Awesome. That means your subject line is great, but the body copy of your email sucks. There's no nicety here. It's either you're amazing or you suck.

But the cool thing is, if you suck, you can fix it. And if you suck and you slowly work on it, you'll fix it over time and slowly. And you can always research the things that you suck, right? You can always find out how better to do it. Just google Frank Kern and get some better subject and some better body copy, right? The nine word email from Frank Kern. I remember when I saw the nine word email from Frank Kern. I spat my drink out. I said, really? This is why this guy makes hundreds of millions of dollars a year? He wrote a nine freaking word email that said something like, are you still interested in such and such question mark? I went, what? People pay him $20,000 a month for that? And then I went, hang on. Don't let the simplicity fool you. The simplicity is the brilliant. I went, all right, highest subject line open rate in the world is simply first name question mark.

Got you.

Sorry, Paul.

Go for me, like I said, I just tested the templates that you guys have done for the snapshots. It was just like a test run. So insurance agents, they may not exactly be b to b, so the lead generation tool may not be the most of interest to them. It was like, can AI. Generate real leads? Right? And I sent it out in the drip mode just to warm up the email system and just to get a test out there. And it's just that type of thing?

Yeah, absolutely, man. And again, there's three main areas to monitor your analytics. Low open rates. As I said, either your email set up is wrong, or your subject line sucks. Low click rates, so great opens, low clicks, your body copy sucks. Okay? Now we go to the third one, and we go, great open rates, great click rates. But nobody's taking any action on my page. What does that mean? Subject line is great. Body copy is great. Landing page sucks. Okay? It's literally you can see where the drop off is of what you need to change. So in that example, Paul, we're great. Like, we're talking about using a template, and everybody keeps asking about the template. I promised I'd mention it. In the members area is 15 of the world's best cold email templates. When we talked on a webinar, we said, we're going to include templates for you guys. That's where they are. We started by putting templates into the actual snapshot. And guess what the problem is? Paul's example? That that template might work really well for a business coach, but, dude, I'm trying to reach an insurance agent. You got to think about what excites them and what lights them up.

One of the best pieces of marketing advice I've ever been given is think about your prospect. And then this is the thing. Think about your prospect, who are you trying to reach? And then answer this question, what keeps them up at night? What are they worried about? Okay. And if you can answer that question in your copy, that's when you'll start to see that result. Okay, so example, I used the fisherman Fisherpeople example before, right? If you're a fisher person, what keeps you up at night? I might not be able to find where the schools of fish are tomorrow, and maybe my commercial trawling company is going to go broke because I can't get whatever. You have a very different set of problems that keep you up at night than the guy who runs a golf course. The guy that runs a golf course has problems that go like this. How am I going to get more members? How am I going to pay my green stuff? Whatever. I've got some, I don't know, grass problems, whatever golf course people have problems with, okay. The problems that your customer has are unique to that industry.

So Paul, with the insurance company guys, think about the problems that keep them up at night, right, and write the copy to answer those problems. So if you can just think about your prospect and really put them like I got taught to actually give your avatar a name. This is Joanne. She's an insurance agent. She's been an insurance agent for 15 years. She's done this, this and this, and these are the problems that keep her up at night. Now, I can enter into the conversation that Joanne's already having in her head when I'm riding that body. I can say Joanne, so contact first name. I know that in the insurance industry, some of the people that have been most successful have achieved this, this and this, and yet others have not been able to do that. This is what we're here to solve, right? And especially when you're talking about a lead generation programme, this is a blanket generic statement. But if you can solve the problem for a business of not enough leads coming into their world, almost all other problems go away. I've never met a business owner that went broke by having too many customers, but I've met plenty who went broke because they didn't have enough.

Now, however we put it, a landscape gardener, what keeps him up at night, I guarantee you, somewhere in there is, how am I going to get another customer tomorrow? All right, same question and insurance, but the difference is the language that they use. So when you're looking at those templates, Paul great, great, great point, man. I'm so grateful that you brought it up. When you're looking at what you're actually sending out to your client, keep a measure, keep an analytics. Look at those three areas. Am I getting my open rates? Great. Cool. Subject lines are good. Am I getting clicks? Yes. No. Change my body copy, are they taking action when they get to the page? Yes, no, change my headline, change the offer, change the video, change the whatever, get my landing page to convert. Right? But thinking about the different industries, if I was going after private schools, which by the way have a lifetime customer value of $150,000 so go after private schools. If I was going after private schools, I would want to talk in a different language. I'd be talking about developing the trust of parents in the local community and creating an educational environment that was superior.

Right? If I was going after people who are running commercial fishing things, if I talked about creating an educational space, they'd be guide what delete, right? So thinking about the industry, change the template to suit. And again, guys, as a community, writing copy as a service for your clients is something you should charge for. Don't fall into the trap of doing it because you want to keep the client. Because when you're writing copy, it is not just dear John, I hope you find this interesting. Please click here to get more information. Say right? You will get click rates, by the way, with that. But writing copy is about investigating that niche. What problems do they have, what's the current common thread in those Facebook groups? What's being said on Amazon reviews in that particular product set? Like thinking about what's the problem that this niche has and putting it into words. That's why they actually say that copywriting is the second highest paid form of writing after ransom notes, right? So copywriters earn a lot of money because the words that they use are specific and generate a response. So Paul might again, I'm sorry, that was a really long answer to a good question, but I love that question.

What do I do to increase my results in terms of what am I saying? Investigate the niche, solve their problems, write your copy accordingly. Split, test the heck out of everything, right? So that you can improve on an incremental level. 1% open rates, 1% click rates, 1% action rates on a landing page actually compounds to be nearly 10% in terms of money in the bank. Great question, loved it.

Another thing, I had trouble downloading those email templates.

The email templates, okay, cool. They are in a Word document. So just right click save as should be able to get them there. If you're still having trouble pull, just drop in a support ticket and I'll email them to you, all right?

And then another one about ads. So if we run ads through Facebook for our business, can we say, hey, get 20 free leads now. How effective is that through ads?

You tell me, brother. I'm going to say you're going to be booked out solid. But of course that's a real generic statement, right? You got to think about what's my landing page, what's my copy, who am I after, what's my avatar? All that kind of stuff. If I'm running a 23 leads funnel to, I don't know, kids under 15 who like TikTok videos, then I don't think they're going to be real interested. All of the normal things pop in. You got to think about the niche, you got to think about the spot. But if you're running business leads again, chris has had experience with that. Would you like 23 leads? Inquiry, inquiry, inquiry. He actually always runs application funnels, which I found brilliant. So it's not just, we want you come and get our leads. It was like, we can generate 23 leads if you qualify. Click here to see if you qualify. And like the application to get into that funnel, that was really cool as well. All right, guys, star is signing out. Thank you so much, guys. Signing out. Let me click on now stop button. Right.

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