Three SECRET SMMA Niches For 2020

Ladies and gentlemen, in today's video, I want to talk about three secret SMMA niches that no one is talking about. Now I hear the same agency niches thrown around. It seems like everyone just wants to be cookie cutter agency these days.

Now I've always implored students at GrowYourAgency to really pave their own path and look at niches that aren't getting as much attention. And it's been awesome to see we've had students sign clients in the pet niche, the solar niche, the CBD niche, obviously for that last one, there's some do's and don'ts for that in terms of what you can and can't do. And on what platforms you can advertise, et cetera, et cetera.

But my point is we've had that and everything in between. Now, whenever someone asks me advice on what niche should they work with? I always ask them two questions.

Number one, what niche are you passionate about? And number two, what niche do you have a competitive advantage in that said in today's video, I want to talk about some niches that I think are slept on and I see a lot of potential for number one is hotel is now. Yes, yes, yes.

I know that in 2020 hotels have been hurt quite a lot, but nonetheless, it seems like things are on the up. It seems like travel is kind of getting back to at least some level of normality. And to be honest, Airbnb also isn't in to great financial standing.

So, I mean, who knows maybe if anything ever happens to Airbnb, which I hope it doesn't because I freaking love Airbnb hotels could be your front runner again. But anyways, my point is, hotels are already paying a huge sum to Expedia and other travel sites in terms of fees for bringing them customers. So they're no stranger to paying, you know, 10, 15, 20% fees to someone else just for bringing them customers.

And the worst part is these hotel owners despise having to pay 15 to 25 or, you know, depending on the structure, you know, anywhere from 10 to 25% to these travel sites, especially because most of their business actually comes from those sites. In fact, if you look, it's pretty much always cheaper to book directly with the hotel, then book on the travel site because hotels want to incentivize you circumventing the travel sites and booking directly with them. So I guess my point is they are used to having a third party, help them get customers.

So that third party could be you, you know, they have a high ticket price and the lifetime value of their customers is nuts. You know, there's a lot of people who go back to the same hotel every single year on like a family trip, or there's a lot of business people who kind of just refuse to go to any other hotel except for their favorite one. This isn't the real Caesar's palace.

Furthermore, they almost always have spare rooms. And you need to understand that if you are booking in a spare room for them, that's almost pure profit to them. You need to understand the for hotels is obviously there's an operating cost to the business and they have their margins, but their margins also include vacancy.

So that means that like let's say, you've got, you managed to get him a booking for a thousand dollars in a room that was vacant. That doesn't mean that they only keep a hundred dollars of it. That means that in that instance, they'll probably keep closer to $900 because that room was going to sit empty either way.

So what's the additional cost, you know, some coffee capsules, you know, an extra 15 minutes for the cleaner to clean that room is like, it's, it's not much. So you need to understand that yes, hotels have pretty slim margins, but any extra room that you can book in for them, that's pretty much bottom line profit. Because as I said, the reason that they have small margins, let's say five, 10, 15, 20% margins is because of the rent or the lease on the property, on the actual hotel itself, or maybe the mortgage on it.

If they bought it or the operating staff cost, you know, they don't need to hire another receptionist just because they get one extra booking, four rooms. So as I said, if you can help them limit vacancy, you're, it's not like you're bringing them in, you know, only 10% of every single booking value for that actual room itself that would have been vacant. It's more like you're bringing them in 80, 90% more just because they've got fixed costs either way.

Most of their margins, the reason their margins are like that, it's from the operating costs. So as I said, hotels are a big, big one because once again, they're used to already paying someone else to bring them leads. And the margins are actually really good when you don't look at the operating margins and you shouldn't be judging your success off of the operating words, you should be judging your success off of any rooms that you book, which aren't vacant, how much does that actually costs them to service that room and anything after that is pretty much profit because they would have had those set costs either way.

So that is secret niche. Number one, secret niche. Number two is something very close to my heart, which is watch dealers.

Now what I'm saying, watch dealers, I'm not talking about your authorized dealers or your boutiques, like Rashard mill, uh, our MRP gay Royal law. You know, I'm not talking about when I go to Rolex itself and I get a, watch it retail, I'm talking, you know, uh, for example, a brand like a protect fleet where I don't have any connections that protect Felipe. I don't have any history there.

So for example, when I buy a Nautilus, I'm buying it at market value, brand new box papers, everything, but I'm buying a market value from a watch dealer. I'm talking about watching. Here's where you go there and they have, you know, um, all the brands, they have, your Amigos, your Rolexes, your protect leaves, your Vasher owns your IWC or whatever your, uh, Alice loves sayings, eager liquid.

Some of the comments, let me know if I pronounced that wrong. So as many of you guys know I'm a huge horology fan. And in fact, I was about to sign my watch dealer as a client of mine.

And in fact, I was about to pivot my entire agency to servicing watch dealers cop somewhere on the screen, you can actually check out that a full log, that full video, where I went and picked up a Rose gold of tech fleet aquanaut. And it was around that time. Once again, I was having discussions with my watch dealer, um, for them to come on as a client.

And as I said, I saw, or I still do see so much opportunity with these businesses. Now, last minute I decided, okay, this is literally the definition of niche shopping. Like you shouldn't do this.

You spend years building your base with your info-products and e-commerce clients. So, you know, I decided to abandon the idea last minute, that said, I learned a lot and I spent a lot of time and even spent some money to learn the ins and outs of that business, because that was January thinking of pivoting to that niche. So to give you a bit of context, these dealers they'll usually make around a grand on every single steel Rolex.

They sell to give you an example, a watch like this, um, a watch like this. Uh, currently I think it retails for 7,000 pounds. Um, market value, I think is around 13 and a half thousand pounds.

It's taken a bit of a hit in 2020. So around 13 and a half thousand pounds, I know if I went to my watch dealer, I could probably get around 11 and a half thousand pounds for this watch now. So that means there's a 2000 pound margin.

So what they'll do is they'll send it off and they'll get it buffed. Cause this is a skill they'll make sure it looks brand new for their customers and their clients. And yeah, they'll usually end up making around a grand and it's a very easy sale.

You know, they might get this in and sell it within 48 hours. Sometimes they'll even sell it without going to get a refurbished or buffed up or whatever, because they have a client in mind that they know really wants it. You know, steel, Rolex bottles are very easy to sell.

So, so when I was going to sign my, watch you as a client, basically we were going to go out and try and find Rolex sellers. Because as I said, when you get a sports steel model, it's very easy to sell a Daytona or a Pepsi or a Hulk. It's very easy that flip over in revenue is very quick compared to let's say something like a, a AP Terbium.

So what we're going to do is we were actually going to run Facebook ads in order to generate seller leads, generate inquiries. They come in all, see they drop off their watch. They sell their watch.

Most of the time that I've watched her knows that there'll be a very quick flip over in revenue will be a pretty easy one. K plus the law of the times, people who sell their watches can then be either have the intent or can be persuaded to then buy a watch as well. You can look at it almost in the same way you would look at real estate, for example, in real estate, it's the same thing.

They usually want seller leads because a lot of times those seller leads will then be buyer leads as well. So it's basically like that, except the commissions are smaller, but it's a lot more frequent. So as I said, we were going to use ads in order to generate seller leads.

And then we're also going to use retargeting ads. So that way their existing customers can then be served an ad with a catalog of their new models and new watches that they have in now, for all of us, I was actually going to charge him 4,000 pound a month service fee plus ad spend. And once again, you need to understand that these businesses are a lot of times used to paying Krono 24, who is a middleman and a lot of people these days, it's I find it nuts, but a lot of people, these, these actually just buy their watches online.

Once again, especially stuff like the cheaper Rolex steel, when I say cheaper, but you know, especially stuff that are below 23 grand, I mean all fairs, there's people out there buying a restaurant Miller's without even seeing, especially because they're so scarce. And once again, Kronos 24 protects all purchases and stuff like that. But criminal 24, once again takes a big chunk of fees.

And this is a niche that no one does any advertising, like no one in the watch dealer niche does any sort of advertising. A lot of them will do Google search ads. But once again, that's you getting someone who already kind of had the intent of selling your watch.

If you want to find literally new leads and really tap into a cold audience, there's no one doing face. I mean, honestly, most watched ears are just doing shit through Instagram. These days, you see all these watch accounts where, you know, they've got a, those are watched dealers and then they're posting or watches.

And then they're, you know, a lot of them selling via DMS. It's, you know, it's very, very basic stuff for such high ticket products and assets. So that is really another niche that is totally slept on.

Now, the last secret niche is whatever your wildest imagination allows ladies and Jen. Sometimes it's better to be a big fish in a small pond. And hopefully just with a couple examples, I've started to show you how you can look outside the box.

And I want you now to start thinking about a niche that you think has a lot of potential that is slapped on, and I want you to comment it down below and I'll automatically enroll you into the gadget giveaway. I'll talk about that in just a second. I'll come back to it because of the point that I want to make is you need to understand that out of the entire global economy, only around 20% are actually properly using SMMA services, advertising, marketing services, or whatever it is that you offer.

There is so much farther. The industry can go. And as I said, there's most of the global economy isn't properly using social media marketing services and advertising services.

The real key is you need to know your numbers. You need to know these businesses inside out, and you need to be able to convey to the business owner, why it is an absolute, no brainer. And lastly, you need to get unstuck from the same old warring niches.

So ladies and gentlemen, I hope you guys have enjoyed this video. As I said, in order to be enrolled into the giveaway, all you have to do is comment. A third secret estimate, niche that you think is slept on that you think has a lot of potential and not enough people are tapping into also down below.

You'll see, as a pin comment, the winner from last videos giveaway big congratulations to you. All you have to do is email support, agree and see all come with your height and your address. And obviously we'll just match that up and make sure that the two lineup and we'll go ahead and send you out your article of clothing from gadget.

So ladies and gents, I hope you guys have enjoyed this video. I hope this has kind of opened your mind to other niches that you can start targeting. And if you want to take this a step further, talk to Cayden, who's my student integration manager.

Maybe just brainstorm some ideas about the best possible niches. If you want a better advice and clarity on what niche you should go into, as well as to talk about whether agency incubator could be right for you in order to help progress your agency further, go ahead and book a call with him down below. You'll be able to find his calendar.

You'll be able to ping some ideas back and forth. And as I said, at the end, if he thinks that agency incubator can help you, he'll make you an offer to join the program. Ladies and gentlemen, I hope you guys enjoyed this video.

Big congratulations to the giveaway winner. I hope you guys enjoy your call with Kayden and I'll see you guys on the next one.