When times are good, companies spend more on marketing.
When times are hard, they spend more carefully on marketing.
Either way, somebody is getting paid. Marketing, like tax or accounting, is a non-negotiable for most businesses.
So how can you make sure it’s you that gets paid in all weather conditions?
The way to be an all-weather consultant is to be positioned as an expert in a narrow vertical or horizontal service.
Simple to say, harder to do.
It’s easy to sell when times are good but you have to be able to survive when times are bad, too.
So how do you pick your specialty?
The best approach is to build around the kinds of clients you get the best results for—assuming you enjoy working with them.
Don’t try to imagine a niche or horizontal specialization. It never works as well in practice as it does in theory.
Sure, test your hunches and run campaigns to areas you think you can win at, but don’t bet the business on them until they’re proven.
Instead, double down on your actual best clients and most profitable services (for you and your clients).
The more specific your vertical (ideal client) the broader your services can be. The more specific your services are, the broader your vertical can be.
It’s a balancing act that takes time to master.
But one thing is for sure: the fluff doesn’t sell in hard times and being a specialist in moving the needle for a specific type of client and/or with a specific set of services will make you a compelling all-weather option.
If you optimize for what moves the needle for you and your actual clients, you’ll probably be fine.
—kevin
P.S. Closing doors to the membership again early next week. Now is as good a time as any to get in.