Sales & Marketing Resources

GUIDES

Ways to Identify New Markets & Customers

Ways to Identify New Markets & Customers

If you want to grow your business, you’ll need a strategic plan – which should include how you’ll find new customers and get your products or services into new markets.
Here’s what you need to know to identify new customers and markets.

Improving the Effectiveness of Your Advertising

Improving the Effectiveness of Your Advertising

As a small business owner, you’ll want to get positive returns on a limited marketing budget. It’s important to monitor the quantity and quality of advertising in order to be as effective as possible.

Identifying Your Target Market

Identifying Your Target Market

Choosing the best export target(s) for your business is critical because ‘getting it wrong’ can waste time, energy and money. This section provides ideas and information to help you understand the opportunities better and identify the best targets and marketplace.

Build Your Marketing Plan by Creating Awareness

Build Your Marketing Plan by Creating Awareness

You probably already have a coordinated marketing plan, set prices, and know what you’re doing. However, to create more awareness and increase sales of your offerings, you may need to make some minor adjustments to your overall marketing strategy.

10 Ways to Build a Competitive Advantage

10 Ways to Build a Competitive Advantage

A competitive advantage is something that you offer or have that the competitor does not. There must be some compelling reasons for people to do business with you rather than with other businesses.
The need to identify your point of difference is important. The more similar your business is to many others, the greater your need to develop competitive advantages.

Advertising that Works

Advertising should be viewed as an investment that should generate a return, rather than a fixed cost. Many businesses spend money on the same kind of advertising each month without knowing what is working and what isn’t.
Effective advertising builds profile, generates new business, and retains your existing customers. Poorly thought out advertising can create miscommunication and even make you look less credible or trustworthy.

Be Aware of Cultural Differences Within Your Customer Base

Whichever industry your business is in, cultural differences can have a direct impact on your profitability. If you try to understand the cultures of your customers – their customs and differences – you’ll have a better chance of keeping them and gaining more.
By being aware of the key factors that will impact your business, you’ll set yourself up to maximize sales from a global melting pot of potential customers.

Testing the Market Before Taking the Plunge

Coming up with new ideas for your business is essential for growth. And it’s exciting when you’ve got a new product or service to offer. But before you launch your new offering, it’s important to find out if there’ll be a demand for it. So you need to take some time to test the market and measure the response. You’ll then have a much better idea if you’re likely to succeed or not.

Ways to Identify New Markets & Customers

If you want to grow your business, you’ll need a strategic plan – which should include how you’ll find new customers and get your products or services into new markets.
Here’s what you need to know to identify new customers and markets.

Undertaking Your Own Market Research

Whether you’re thinking of starting a new business, considering adding new products, opening a new branch, or increasing the services you offer, it’s common sense to research your market to make sure there is sufficient support for your idea.
There’s little point adding the latest top-of-the-range spa pool to your product range, for example, if you’re running a DIY store in a low-income area. A year from now, you’ll be selling them at cost, or below, to recoup your investment.

Build Your Marketing Plan by Creating Awareness

You probably already have a coordinated marketing plan, set prices, and know what you’re doing. However, to create more awareness and increase sales of your offerings, you may need to make some minor adjustments to your overall marketing strategy.

Grow Your Customer Base with the Right Software

More than just a bookkeeper If you’re thinking that your accounting software is there just to look after your finances, chances are you’re missing out on what it can do to grow your customer base – and improve your profit margins. The right accounting software is a...

Identifying Your Target Market

Choosing the best export target(s) for your business is critical because ‘getting it wrong’ can waste time, energy and money. This section provides ideas and information to help you understand the opportunities better and identify the best targets and marketplace.

Use Focus Groups to Understand Your Customer

Two examples of this effective technique show you how you can set up your own focus groups.
The concept of focus groups simply involves gathering a few your target market customers together, and then putting a series of questions to them.
It’s best to get an outside person to conduct this type of research, because you’re probably too close to the issues and may end up ignoring the results anyway.

10 Ways to Build a Competitive Advantage

A competitive advantage is something that you offer or have that the competitor does not. There must be some compelling reasons for people to do business with you rather than with other businesses.
The need to identify your point of difference is important. The more similar your business is to many others, the greater your need to develop competitive advantages.

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