CHAPTER 6Niches
After you adopt the Supernova Model and have more free time, where else will you find great, high-quality introductions? Niche marketing will take your Supernova process to the next level. This is your next Supernova Multiplier.
Why are niches so important? They provide you with an opportunity to be introduced to qualified prospects with a high degree of established credibility, both theirs and yours. In his book Influence, Robert Cialdini notes one of the critical elements to connecting with people is having similarity. When you become a specialist in any area you are automatically trusted because you speak their particular business or industry language, you have a working knowledge of their company or field, and, most of all, are in their circle because you are already working with their colleagues.
In Indianapolis, we had a number of advisors specializing in local corporations where the niche members met their minimum requirements for their practice. They developed a COI inside that niche and grew their practices dramatically through introductions using this model.
At Eli Lily, Simon Property Group, UPS, and Dow Elanco we had great success because our FAs were “specialists” within these companies' employee circles. Other niches not tied to major corporations that worked for us were authors, cardiologists, car dealers, lawyers, university and hospital staffs.
In asking the average financial advisor what their niche or niches are, the usual answer is “I don't ...