The Major Pitfall of Niche Marketing

While niche marketing is one of the most powerful marketing strategies available for financial advisors looking to differentiate and scale…

There’s a big, fat problem with niche marketing:

It is not an overnight cure for your lack-of-clients or lack-of-cash-flow problems, despite what you hear marketing gurus peddling.

In fact, it’s the exact opposite: Choosing a niche, then earning the trust of that niche, can take years of grueling effort with little return. Especially because the financial advice industry is one of the least trusted professional industries.

That’s why, in this episode, I’m revealing a secret, more methodical way to become a trusted source in your niche (without starving for clients and cash flow for years).

Listen now.

Show highlights include:

  • How to actually build trust with potential clients (even if the financial advice industry is one of the least trusted professional industries) (0:31) 
  • Why typical sales and marketing books don’t work for financial advisors (even though they work in other industries) (1:42) 
  • Where the “riches are in the niches” advice marketing zealots pump into you falls flat and can even hurt your business (3:03)  
  • How to become the trusted figure in your niche—and why it will takes years, not months or weeks (3:21) 
  • Why appearing as a generalist instead of being a specialist is a better strategy for growing your business (even though it’s harder) (5:38)  
  • How to build an entire financial advice business around the “Generalist-Specialist” method that gets you clients today and years down the road (6:34) 
  • The slower, more methodical, and more effective “Behind-the-scenes” secret for building a wildly profitable niche (9:15) 

Now, you might have a few questions like how do I identify the right niche for me that is viable long term, I actually have an entire video training about this called deep dive into niche marketing, which you can find over that digs in a lot deeper than I can in a single podcast episode. There is no perfect science for selecting a viable niche.

Related: Essential Listen for Financial Advisors Serving 65-Year-Olds