Andy Black
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As per a tropicalmba podcast (this one I think), our market is an "established cashflow" NOT a demographic.I will give an example.
Pretend you sell a glowing collar for pets.
Do you focus your entire funnel (ads, website, messaging) on:
1) one single type of customer: young, female, cat owner;
2) go as broad as possible and try to appeal to everybody: all the pet owners.
So, would you niche down and try to catch a fish in a small pond, or go broad and try to get as many people interested as you can?
"Young, female, cat owner" isn't a market, it's a demographic.
What established cashflow indicates people are ALREADY spending money on their pets? Using the "established cashflow" definition, your market could be people buying pet collars, pet food (not goldfish food I presume), pet training courses, etc.
Even better, what indicates someone already wants to spend money on a glowing collar for pets? (Hint: some may even be searching for "buy glowing collar for pets" on Google.)
This thread might help too:
I've been known as a "Google Ads Guy". People hire me to help with Google Ads. Once I work with them they often ask me to help with their website, SEO, content marketing, videos, personal branding, etc. They hire a specialist and gradually want a generalist.
I like to consider that "The first purchase is a test" (both ways). To get ahead of your competition you often need to specialise (you'd prefer a neurosurgeon operating on your brain over a general practitioner). Once they know, like, and trust you then they will often want to buy more from you.
An ad for website GlowingPetCollars.com would likely get more clicks than PetStore.com (for people looking for glowing pet collars). Is it worth creating that narrow and specific website? If the volumes justify it. And what's to stop PetStore.com creating that site as a satellite niche site anyway?