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According to Graham McGregor, an interesting strategy to increase sales results is to find your “acres of diamonds” marketing niche.
Graham McGregor is a marketing consultant. You can get his free marketing guide “The Plan B Sales Solution” at www.simplemarketinganswers.com
OPINION: An interesting strategy to increase sales results is to find your “acres of diamonds” marketing niche.
The concept was made popular by Russell Conwell who gave his famous “Acres of Diamonds” speech thousands of times.
Acres of Diamonds is a true story about an African farmer named Ali Hafed who heard stories of fortune from other farmers.
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These farmers discovered diamonds on their land and became wealthy beyond their wildest imagination. Ali Hafed grew dissatisfied with his own life and desperately desired the same fortune.
He eventually sold his farm and left his family to begin a quest for land that would lead him to wealth. He searched through many lands, far away.
Eventually, as an old man, he became depressed and discouraged. He threw himself into a great tidal wave until his death, never to be seen again.
The successor to his land, another farmer, once walked along a stream that ran through the property.
He noticed a blue flash from the creek bed, knelt down, and sifted the water until he pulled a crystal object out of the mud of the creek. He wiped it off, took it home, and left it on his coat over the fireplace, where he quickly forgot about it.
Several weeks later, a visitor stopped by the farmer and noticed the crystal on the mantle and picked it up.
Instantly he became excited, he was holding a diamond in his hand. The farmer initially protested and the visitor reassured him that it was indeed a diamond.
This farm eventually became one of the largest diamond mines in the world.
If Ali Hafed had simply known how to identify and search for diamonds, he would have had the fortune he so desperately wanted.
Here’s the point of this story – we’re all standing among our own acres of diamonds. And many times you can find what I call your “diamond acre marketing niche”.
This is a niche that can quickly increase your sales results when you focus on it.
Here are two examples of businesses that have found their own niche. And did very well.
First example: the millionaire life insurance professional
Many years ago I met a life insurance professional who had been selling insurance for 30 years.
He became a multimillionaire thanks to his extraordinary sales results and was regularly the first seller in the country for his company.
He told me that he began to experience incredible success when he made the decision to only sell insurance products to people in their 40s. (It was his diamond marketing niche.)
He went on to explain that people in their 40s often think about creating a retirement nest egg. They also generally had a reasonably good home and income and lifestyle.
Because they had a good lifestyle (and thought they would maintain that lifestyle after they stopped working), they were very good prospects for his insurance products.
Since they were in their 40s, these clients still had about 15 years or more to build their nest egg. This meant that the insurance products he was selling that had an investment element could potentially work very well for them during this time.
Best of all, because most of them were in their 40s, they were able to refer my client to many of their friends and co-workers.
And many of those references were often in their 40s. (Because most people know people who look like them in some way.)
So his acres of niche marketing diamonds for people in their 40s worked very well for him.
Second example: the franchise company and short haircuts
A large franchise company I heard about started looking at the characteristics of its most successful franchisees and found (to its surprise) that a large number of them had short haircuts.
It was rather unusual. so they decided to dig a little deeper.
Further research revealed that the majority of these franchises (with short haircuts) came from an armed forces background like the Air Force or Army.
The reason these franchisees have been so successful is that they were used to following orders from their military backgrounds.
So they tended to do whatever they were told to do in their franchise playbook and got great results when they did.
The franchise company began to focus much more effort on integrating people from the armed forces into its business, and its sales skyrocketed.
The great thing about the Acres of Diamonds marketing niche concept is that it can be used by many businesses.
Just look for a group of people who could really benefit from what you are offering. And which are relatively easy to sell.
Then focus on marketing to that group of people.