Lack of specialization is one reason why the industry is seeing such downward pressure on pricing. Companies that don’t specialize are stuck selling a commodity in a market where new competitors enter every day. The only way to compete selling a commodity is branding (think Quaker Oats) or price (think $5 logo design).
The narrower your specialization:
- The more money you will be able to charge, even if your potential market is smaller.
- The easier it is to answer the question “Who are my customers?” and start marketing to them.
- The easier it will be for the right clients to find you.
- The easier it is to reach out to the right repeat users/connectors with enough depth and consistency to become relevant to them.
- The more selective you can be about which clients and projects you take on.
- The less effort it will take to convince clients that you are the best choice for their specific project.
- The easier it will be to create an effective web site, search ad, blog and every other marketing campaign you will need. You’ll be clearer about what to say and why, because you’ll understand the real value of what you do.
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