Grow Your Video Business with Ryan Koral 143: How To Find The Right Niche In A Crowded Market w/ Jon Morgan
If we didn’t have to do sales in this work then everything would be so much easier, right? There are ways to make sales easier, more natural, and ultimately more profitable. Today’s guest has only been in the video business for a short time, but his dedication to sales has led him to success after success.
Jon Morgan’s passion is selling. He is the owner and founder of JM Films, one of the top production companies in St. Louis. Jon has worked with such clients as Microsoft, Mastercard, and the NHL. He and his studio are passionate about producing engaging cinematic quality videos for companies and businesses that not only tell their stories but also get results.
Jon takes us through the humble beginnings of his marketing business as he forged his own path in an already crowded market. Recognizing that an opportunity existed in making videos, Jon shifted gears and has been finding success ever since. Jon explains how he found the right sort of clients for him and how to assess the profitability of potential work.
We talk a lot about how we learn and grow as entrepreneurs. Succeeding for Jon and me both came from learning from others and being open to receiving advice. It also involves putting yourself out there for others so that we can be of help to an entire community.
Finally, Jon lays out some great advice for managing all your potential customers and using a CRM platform. This allows you to keep track of the customers who may not be ready to buy right now but will be in the future.
How do you followup with clients who are not ready to buy from you at the moment but might be later on? Leave a comment on the episode page!
In this episode- Finding the right niche for your business in a crowded field
- What it means to be “front of mind” in your work
- The value of finding community and mentors to learn from
- How to stop wasting time and energy selling to the wrong audience
- Why it’s important to have a clear plan for your business from the beginning
- What CRM is and why it’s crucially important for your business’s growth
Quotes
“I realized early on that selling video services to someone who’s a lot more expensive than you are is a lot easier of a conversation than selling to someone whose product or services are a lot less expensive than yours.” [14:42]
“If I know that it’s easier to sell a video to an industry that we’ve already worked in, then why don’t I just focus on these industries more instead of trying to pioneer new paths in every possible industry out there?” [17:12]
“Really try to soak up as much information, learning, and wisdom as you can from other people. You’re going to learn a lot, not only from your mistakes and what you do well and maybe didn’t do well but also from asking others.” [30:51]
“Whether or not you have a plan, you’re still going to make a lot of mistakes…. Things are going to evolve. You’re going to have to be able and willing to adapt.” [40:09]
“Only 3% of the market is ready to buy right now. That means the other 97% is not now. A lot of people make the mistake of only looking for that 3%.” [43:10]
Links:Follow Jon on Instagram | Linkedin
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