Reflection of the Week
The Importance of Niching Down
Happy Friday, all!
The more MDB conversations I have, the more of a belief I’ve developed in niching down and good marketing your business. In my most recent episode, I chat with entrepreneur and Hispanic marketing leader Hugo E. Gomez.
As the founder of HispanicMarketing.com, Hugo helps U.S. businesses connect with the Hispanic market. In the episode, Hugo discusses the importance of niching down for marketing and creating personal branding on social media. He also shares the lessons learned on his journey from an employee to self-employed, including embracing uncertainty and trusting himself to figure things out.
Episode Highlights
Mission-driven businesses seek win-wins.
HispanicMarketing.com comprises four sub-brands — Abogados NOW, Doctores NOW, Gene NOW, and SpanishLeads.ai — that all share a two-fold mission. The first is to help U.S.-based businesses connect with the U.S. Hispanic market, and the second is to ensure the U.S. Hispanic market has access to financial, healthcare, and legal resources.
“It’s a win-win for our mission because we’re giving our clients something new and at the same time providing a lot of goodwill to the community,” Hugo said.
Niching down is the path of least resistance.
In marketing and entrepreneurship, niching down your market and services is a powerful tool for attracting customers. If you already understand your customers’ industries and challenges, it becomes much easier to get sales acceleration.
“I’d seen so many great use cases of niching down that I thought that’s probably the best way to build a company,” Hugo said. “If you tell someone in a sales funnel that you know where they come from and their challenges, it’s so much easier to have a call about the next steps.”
Start your business while you have another job.
Successful entrepreneurship requires smart risk management strategies, which is why Hugo advocates for aspiring business owners to start a new company while they still have a job. He followed that approach when exploring whether HispanicMarketing.com could be a full-time business.
“You can have a job and your own business. That’s probably the safest and most respectful path for your own wellbeing,” Hugo said. “Building something and proving it out at the smallest level is a great proof of concept to see if you’re really interested in running a business.”
Don’t forget marketing.
When it comes to modern marketing techniques, Hugo is bullish on social videos, such as Instagram and Facebook Reels, because the social media companies do the work of matching your content to people who are interested in watching. He also recommends publicizing employees of companies rather than company pages.
“Most people right now don’t want to follow a company page,” he said. They want to follow people who work inside the company. The ones with the personal video brands are going to do the best.”
Questions of the Week
- What’s your business niche?
- When was the last time you revisited your niche and target market?
- What kind of marketing has brought you the most success?
Tools of the Week
If you haven’t dug into this episode yet, do yourself a favor and listen in this weekend. You’ll get an array of marketing insights that will help your business thrive.
You can also learn more about Hugo and his businesses at the links below.