How to increase sales by shrinking your market
We can’t be everything to everybody. And it’s difficult to turn away from revenue opportunities seemingly within our grasp.
But we’ve seen time and time again companies that narrow their focus and position themselves as THE market leader for a specific subcategory or genre end up accelerating their revenue, growth and sales – even though they’ve in fact decreased their proactive, addressable market.
Take the company behind this van, for example. They likely have the skills and infrastructure to move anybody – families, students, offices, etc. But they’ve decidedly focused themselves on a much smaller portion of the moving market.
Sure, seniors looking to downsize could hire any moving company. But why not hire the company that specializes in your specific move?
Shrink your market, go where others aren’t, narrow your focus. Easier said than done, but it works.