Small Business Marketing Strategy to Win
Identify and understand your target market
Every business has a target market. Not all products or services are appropriate for everyone. It is important to both understand your target market and understand their way of life. What does your target market like to do for fun? What TV channels do individuals in your target market watch? What radio stations do people in your target market listen to? Answering, and understanding the answers to questions like these will help you better understand how to reach out to your target market. Make sure to note everything about your target market. Even if a common thread seems unrelated to your business, I assure you that you can take advantage of that commonality to your advantage.
Stand out from the rest
Most businesses thrive because they are unique and provide products or services that other individuals are unable to provide. I recently read about an insurance salesman who sent out a survey to some of his clients and discovered that all of his clients enjoy taking bus trips. The businessman took advantage of this common interest and started doing bus trips for a fee, encouraging existing clients to bring friends. The trips started with ten to twenty people. Now, the bus trips are full to capacity with clients and prospects. In this scenario, the businessman took a seemingly unrelated common thread among his clients and used it to differentiate his business from other insurance agencies in the area.
Focus on Referrals
While discovering what TV and Radio stations a target market subscribes to are great ways to start a marketing campaign, there is a better way to generate business. Referrals give business people access to new prospects through the support of existing clients. Often times people are more willing to listen to friends as opposed to advertisements from unknown individuals. With the use of these three steps anyone can grow their business into a thriving money making enterprise.
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