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Niche Marketing "Narrow the channel, strengthen the stream." Post your thoughts and questions on targeted niche marketing here.

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Old 04-30-2008
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Default New Niche?

I would love some feedback on this idea.

I am sure I could provide this service to clients that were not in my immediate local, but it would take some doing...

I was thinking of niches, and how important they are to get a special piece of the pie.

Idea #1 ~ Not so unusual...Event Planning
I have experience in event planning, small and large (fishing derby ). I loved planning these events and would love to provide my services (everything from organizing schedules, budgeting, arranging services (catering, rooms, etc), custom invites/marketing and desktop publishing...to the rsvp management, and fundraising also. I could provide these services individually or as a whole...hmm.

Idea #2 ~ A little different...Renovation Estimations
Specializing in price lists for DIY projects for home owners or potential home owners evaluating a purchase. It can be a big task, but if you don't know what you are in for, where to look for the learning materials, who you need to call for help, what permits you need, what parts you need, how much time it will take...it could be a real mess. I know, I have renovated two of my own homes (as we lived in them...loads of fun) We did all the work (what was allowed by each state law). I budgeted out our projects (while on one income) we were able to squeeze $13,000 out of our wallets for major home renovations that turned a profit of $17,000 in two years . I like to think of this as my strong suite because of two reasons...ok three...
1) hands on experience with renovations, and research
2) Great instructional writing ability...as noted by previous employers.
3) I love to save money and therefore love DIY jobs, so I think this could open the doors for some blog writing and article posting that could give me good pr.

Idea#3 ~ Tell me where I am...Health Insurance mediation
I have a daughter with Congenital Heart Defects, I have also had some experience as a patient financial services representative for a hospital. I know how to negotiate bills, arrange budgets and set limits for both sides. I always felt that as a Patient rep I was working as a liason for the hospital to the patient and the patient to the insurance. I can say from personal experience that I know how it feels to have $83,000 worth of surgery bills on your back and a child in the ICU with another surgery pending. Stress is my middle name . But I learned to help myself and others and feel that there has to be something I could do to use my services....Currently my only explored avenue is a HOW TO book for patients/families. About 3/4 done.

What do you think? Am I off my rocker?
Along those lines I could offer Instruction Manual Writing, Report Writing, Event planning kits (how to's).

Thanks,
~Brandy
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Old 04-30-2008
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Default Re: New Niche?

Hi Brandy
I think each of these has strong potential as viable additions to or even as a focus of your VA practice - my only concern is that they all sound like a LOT of work in terms of getting established. I might suggest choosing the one of the three that will be most satisfying for you and pursuing it full force. Focus your marketing on that particular niche, network in the relative areas to find contacts and get your name out there, and beef up any additional skills or knowledge for that particular niche.

I know it's tempting to want to do it all and do it all at once, but a strong business model is focused and doesn't compete with itself, which I'm afraid you'd be doing were you to take on all of these in one fell swoop.

Maybe you weren't asking about taking on all three, but more about which one might be most viable? In that case I'd say, again, the one that means the most to you, that will make you happy and feel fulfilled.

It makes sense that the insurance angle would mean a lot to you and you'd surely be helping people - and while I don't know much about insurance, I'm not sure that the hospitals and insurance companies would accept a third party stepping in on behalf of the patient, unless it was a lawyer (??) What are your thoughts on that?

The renovation estimations angle is a good one and could actually be applied on a broader scale - if it's something that interests you then go for it!

I'm always intrigued by how VAs manage to make a success of event planning as a virtual service provider...I guess it's hard for me to really see the logistics of how it would work..wouldn't you have to be able to go to the venues, etc. to check out the space in some cases?

Just my initial thoughts - I love that you're brainstorming far and wide - you're on the right track for sure!
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Old 04-30-2008
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Default Re: New Niche?

Tess,

Thanks for the input, and to answer your question...no I did not plan on conquering the world all at once. More asking which seemed more "do-able" for a beginner.

I am leaning towards the Event Planning because...who doesn't want to plan a party? Baby showers, bridal showers, weddings, business parties (holidays are lots of fun and can be busy). I was thinking of offering a discount for "reserving" my planning services ahead of time, say like an early bird special for those who want a business christmas party planned. I think parties would be my "spot", although I do like events that require fundraising also. I did some fundraising for my cousin when he was hospitalized last spring after he was in a car accident (head trauma) he is 16. It was pretty scary for my cousin (his mom) so I offered to be the "liason" between them and the friends and family all over the US. I started a quick website on freewebs.com and got a $1.99 domain. We had a "friends of Nick" map going and I would call or stop by and get daily/bi-daily updates. We sold silicone bracelets to raise money for the medical costs (parents weren't working) and had a bank account opened in their name. We raised over $7,000 dollars.

So I guess, to answer your inquiry about how people could do event planning virtually, it really depends on the event, and how good you are at researching and getting people to work for you (instead of having to go to an event location, get pictures and room layouts). If the client required "at event" planning/management or onsite viewing they would be responsible for the cost of my travel (by cheap but reasonable means of course). I guess an event can be as general as you want it to be.

I am still doing research on Event planning to be sure exactly what I want to offer.

As for the insurance question, my understanding is that anyone can represent anyone else with regards to health related bills, all that is required by HIPAA is that they be granted permission to represent that individual for a specific reason (say a certain date of service) or generally (for any Date of service). It would be an easy form to have a lawyer create.


~Brandy
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Old 04-30-2008
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Default Re: New Niche?

Hi Brandy - A mix of reactions ... At first, worried that regulations would get in the way of doing much in both renovations and insurance, but then thinking that if you've already got a treatise three-fourths written, maybe it's possible! You could publish on-demand, or do an ebook, and perhaps have some income from that. It's possible for both these interests, and both would do very well as blog themes (where you can also generate income). It might be easier to go that kind of route (publishing) rather than setting out to counsel paying people face-to-face, which may involve too much liability. If you gain renown for your published opinions and suggestions, then establishing an in-person practice (and/or getting paid to be a speaker) may become more viable.
Whew!
And then, event management makes sense at least on the local level. Yes, you may have to actually 'be there' now and then, but most of it can be virtual. Just be sure to charge for travel when it's required.
So, were you expecting to get such a long-winded piece of my mind? Guess you inspired me!
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Old 04-30-2008
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Default Re: New Niche?

Quote:
Originally Posted by asthemoonclimbs View Post
Hi Brandy - A mix of reactions ... At first, worried that regulations would get in the way of doing much in both renovations and insurance, but then thinking that if you've already got a treatise three-fourths written, maybe it's possible! You could publish on-demand, or do an ebook, and perhaps have some income from that. It's possible for both these interests, and both would do very well as blog themes (where you can also generate income).
AsTheMoonClimbs,

I know how to write an article for blogs, but not really sure how to generate income this way? Are you talking about affilliate promoting? Or something else? Like I said, I am blog clueless as far as making money goes.

Yeah, I have kind of worried about the aspects of the "legal" issues that could arise from the health insurance consulting/etc. Hence the apprehension and reason I asked for your valued input (I mean that, thanks).

I was thinking the renovation info might be useful as a blog, again I need a crash course on how to make money blogging. Again, like some of the other questions I have asked this will probably be one of those....doooooolt! answers where I can't believe I didn't think of that.

Yeah, I agree the event planning feels like my thing. Locally would be great, I have many contacts (what working for a city government) and unlike previous people in my current position, I attend all the merchant meetings for the one town and most for the other, plus I go to the county health and safety meetings too. I really need to get this business plan done because I think I would have some work to start off at least (now I am being positive). At least enough to get my feet wet.

I would love input from any event planners out there. Dos and don'ts or what have you.

Thanks for the great tips ladies, you have helped me out alot.
~Brandy
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Old 05-02-2008
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Default Target Market Question

Ok, I tried ~ like someone suggested ~ to sleep on it and come up with a viable solution. I need to know if I am still trying to conquer the world here or am I being realistic in my goals.

I wanted to offer Events Planning/Management as one of my "main" services. I mean the whole thing, you don't do a thing except tell me what color and if you like something or not. I send out the cards, manage guest lists, get your creative input and requirements for the event, and don't you worry about a thing....was my idea. ~ This would kind of role all of my services into one big picture.

Then was thinking that I really enjoy Advertising/Marketing and related Desktop Publishing. Being the crafty sort, I have some pretty impressive logo designs under my belt and love creating cards, flyers, business cards and such.

~ I can also list my services individually too.

I was thinking of focusing on vacationers/weddings and business parties/events and possible just Marketing as my main services...I would like your input as to who these services would best appeal to. Because I think both groups have two different types of marketing strategies and methods that could be used
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Old 05-03-2008
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Default Re: New Niche?

Sounds like continued good thinking, Brandy! If you're wondering who could best use your event planning and marketing services, I think your choices are both good (vacationers/weddings and businesses) - i.e., they're both potentially hot markets. It just depends on your preferences, and what environments you enjoy most. Much will depend on where you advertise. An ad in the paper brings different results from one in a business journal or tourist guide.
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Old 05-05-2008
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Default Re: New Niche?

I love your idea regarding Health Insurance Mediation! But like most everyone above, there are probably lots of issues. However, one of the major marketing methods that everyone talks about, even here on this forum, is getting involved with a community group or non-profit as a volunteer. You have the knowledge and skills, maybe you could offer those up to a local or on-line organization that supports families going through medical crisis! I think the volunteering alone would be a great reward!!!
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Old 05-05-2008
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Default Re: New Niche?

Excellent points, MDThompson. I agree that Health Insurance Mediation is sorely needed. By volunteering, you can learn more about the ins-and-outs of sparring with insurance companies, and who knows what personal (ie, financial) benefits could accrue as you figure out how to help folks quite safely and legitimately.
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Old 05-06-2008
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Default Re: New Niche?

Whoa Brandy, I think you ought to focus on one or two things first. I'd suggest events management and being an insurance mediator since they are your strengths and know the ins and outs very well.

Focusing on at least two things will help you focus more on marketing them. I like the setup of the two since if events aren't common in the season, you can concentrate on medical insurance. Your niche is your strength and interest.
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