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Old November 23, 2002, 11:56 PM
Chris
 
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Default Re: Specialize in a sub-niche

Hey Dien,

Great point about the competition; that's something I need to take a closer look at. I started clipping their ads, but I should probably visit a few in person. A quick look at the Morris County Yellow Pages found around 55-60 opticians and about 80 optometrists! Of course, there is some overlap, since some list under both and those locations with multiple optometrists usually list each one separately, as well as the business itself.

On the optician's side, the biggest competition seems to be the big chains, probably because they have the big marketing machine behind them and can probably get better prices on supplies (thus partially reducing costs & improving margins). And with the high amount of traffic they usually get, they can probably afford to cut their margins on some things (at least temporarily). On the other hand, Tom's part-time optometrist, Ramy, also works at an Amber store and a Pearle store, and he says business is just as slow for Amber and almost so for Pearle.

Speaking of Yellow Pages, I just noticed that Tom lists himself ("Mr. Optics") under opticians but not under optometrists. I'll have to ask him if that was his choice (and why) or if maybe there's a legal reason. He used to have a YP ad in addition to the listing, but he pulled it not long ago, because the small amount of business he could trace to it didn't justify the huge expense of the YP contract (several thousand $). I think he might let me write a Gary Halbert-type, editorial-style YP ad for him, but that's many months down the road.

As I think I either mentioned or implied earlier, we need to work on developing Tom's USP or competitive advantage. It might focus on customer service or the family-friendly atmosphere, but he may need to focus on a specific niche or sub-niche to truly set himself apart, as you say. As I said in my response to Sandy's post, that "fashion makeover" thing may indeed be the way to go.

I am familiar with the dentist you mentioned. Actually, I've heard of two that did very similar things -- one that did so after consulting w/ Jay Abraham, the other had already done so before he met Jay. One is Australian, the other from the U.S., but I don't recall which was which. Also, one of them teamed up with Bob Morrison (of "S.O.B. book" fame) and put on the (in)famous $30,000/seat seminar to teach other dentists how to do the same thing. Made a nice chunk of change doing that, too. If Tom and I make some real strides in saving, growing, even transforming his business, maybe we can do something similar. Maybe license out our successful ads, letters, & other techniques, too. (Hope & Pray.)

That reminds me, I needs to talk to my dentist...

Another thought-provoking post from Mr. Rice. Thanks a lot, Dien.

Keep 'em coming, folks! This is great.

Chris

> Hi Chris,

> Here are a few things off the cuff (though
> you've gotten some excellent suggestions
> already, I think)....

> You didn't mention the competition.... Are
> there a lot of other opticians in the area?
> I think it would be the competition which
> would be the main source of a possible
> "problem" for him. If there are a
> number of other opticians in the area, of
> course, it's harder for him to compete for
> customers' attentions, since they are all
> comparing your friend to all the other
> opticians....

> How is your friend's service unique? I think
> he needs to find a way to "stand out
> from the crowd".... Perhaps be a little
> unusual. Another possible approach is to
> target a "sub-niche" among the
> customers.

> I don't know much about opticians, but my
> impression is that they are all about the
> same. However, perhaps some of these
> customers have special "wants"
> which aren't being met, or special
> "problems" which aren't being
> addressed. Sandy's post is a good example of
> this - she is suggesting focusing on those
> who want to look good or look young, and
> doing an "eye and eyeglass
> makeover" - and beating all the
> competitors in that specialized area. If he
> becomes THE optometrist/optician to go to if
> you want to look younger, then suddenly, he
> no longer has any real competition, in his
> special area.

> Another idea is an "up-market"
> optician. I remember once reading an article
> about a dentist who did this.... He didn't
> have waiting rooms, etc. People made
> appointments, and when it was their turn, he
> was there, and they were the only patients
> there. It was more of a "closed"
> and "exclusive" dentist office -
> he could reject you as a customer if he
> wanted to. People got extras - free tea and
> coffee, free biscuits/cookies, and they were
> generally "pampered". There was
> relaxing music in the background.... The
> comfort and happiness of the customer was
> everything!

> He charged more for his service than other
> dentists, but that's because he targeted the
> "wants" of a particular niche, and
> he had a booming business. The
> "wealthy" don't always want to get
> the same service as everyone else, many of
> them want "special treatment", and
> many will pay extra for a bit of extra
> comfort and luxury.

> I don't know if this would work, but how
> about an optician who makes house calls? I
> can imagine that some people have difficulty
> getting to his office, especially if they
> may be elderly or disabled in some way. If
> he's the only optician in the area who makes
> "house calls," then suddenly, in
> this particular niche, he again has no
> competition.

> Anyhow, I hope you get some good ideas out
> of this.... :) Probably your optician-friend
> can think of much better sub-niches than I
> can, since he knows what the customers of
> opticians are like and what they look for
> better than I would, and what special
> sub-niches may exist! So, these are just
> some suggestions "off the cuff"
> from the little I know or can guess about
> those who might go to see an optician....

> - Dien Rice
 


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