Uncover Your Hidden Markets
Uncover Your Hidden Markets
1. How to Find Your Hidden Markets
Start by evaluating your existing customers. Look for groups of customers with similar characteristics you do not currently cater to in your advertising. Then create new versions of your sales message appealing to their specific needs. You will attract a lot more customers just like them.
For example, the owner of an accounting service marketing to small businesses noticed that many of his new clients were landscapers or insurance brokers. Therefore he created separate web sites highlighting the unique benefits his service provided to clients in each of these businesses.
The two sites looked similar, but their sales content was customized to appeal to the specific needs of potential clients in each market. Visitors to either site probably assumed he specialized in working with companies in their industry. Within 2 months he was able to increase the number of new clients from each group by over 25 percent.
Tip: You can also narrow the appeal of an existing web site without losing its effectiveness with your main market. Just create customized web pages for each market segment you want to target. Then add a link to each of these specialized pages on your home page.
2. Adapt to Your Customers and Become a Specialist
As you work with a lot of customers and prospects in a narrowly defined market, you gain special insight into how they think and what they need. You will be able to communicate with them as an "insider" using their own special vocabulary and style.
Prospects and customers will think of you as being "one of us" ...a specialist who caters to their unique needs. They will want to do business with you because you understand their special situation and know exactly what they need.
As a specialist you also eliminate much of your competition ...even if their prices are lower. Most customers will pay a little more to buy from a specialist so they can avoid the risk of doing business with a competitor who has little or no understanding of their special needs.
Bonus: When you deliver results as a specialist you also establish yourself as an expert in your field. Customers will proudly refer other prospects to you. They appreciate what you did for them and are confident you will deliver the same results for others.
You can boost your sales significantly by using the two simple, low-cost steps revealed in this article. Just (1) identify the narrowly defined sub-markets hidden in your main market. Then (2) become a specialist catering to the unique needs of the customers in each of these sub-markets.
Bob Leduc spent 20 years helping businesses like yours find new customers and increase sales. He just released a New Edition of his manual, How To Build Your Small Business Fast With Simple Postcards ...and launched *BizTips from Bob*, a newsletter to help small businesses grow and prosper. You'll find his low-cost marketing methods by clicking here.
Uncover Your Hidden Markets - To learn more about this author, visit Donald F. Pooley's Website.
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Want a simple, low-cost way to boost your sales? Just uncover the narrowly defined sub-markets hidden in your main market. Then create special versions of your advertising to focus on the specific needs of prospects in these hidden segments.
1. How to Find Your Hidden Markets
Start by evaluating your existing customers. Look for groups of customers with similar characteristics you do not currently cater to in your advertising. Then create new versions of your sales message appealing to their specific needs. You will attract a lot more customers just like them.
For example, the owner of an accounting service marketing to small businesses noticed that many of his new clients were landscapers or insurance brokers. Therefore he created separate web sites highlighting the unique benefits his service provided to clients in each of these businesses.
The two sites looked similar, but their sales content was customized to appeal to the specific needs of potential clients in each market. Visitors to either site probably assumed he specialized in working with companies in their industry. Within 2 months he was able to increase the number of new clients from each group by over 25 percent.
Tip: You can also narrow the appeal of an existing web site without losing its effectiveness with your main market. Just create customized web pages for each market segment you want to target. Then add a link to each of these specialized pages on your home page.
2. Adapt to Your Customers and Become a Specialist
As you work with a lot of customers and prospects in a narrowly defined market, you gain special insight into how they think and what they need. You will be able to communicate with them as an "insider" using their own special vocabulary and style.
Prospects and customers will think of you as being "one of us" ...a specialist who caters to their unique needs. They will want to do business with you because you understand their special situation and know exactly what they need.
As a specialist you also eliminate much of your competition ...even if their prices are lower. Most customers will pay a little more to buy from a specialist so they can avoid the risk of doing business with a competitor who has little or no understanding of their special needs.
Bonus: When you deliver results as a specialist you also establish yourself as an expert in your field. Customers will proudly refer other prospects to you. They appreciate what you did for them and are confident you will deliver the same results for others.
You can boost your sales significantly by using the two simple, low-cost steps revealed in this article. Just (1) identify the narrowly defined sub-markets hidden in your main market. Then (2) become a specialist catering to the unique needs of the customers in each of these sub-markets.
Bob Leduc spent 20 years helping businesses like yours find new customers and increase sales. He just released a New Edition of his manual, How To Build Your Small Business Fast With Simple Postcards ...and launched *BizTips from Bob*, a newsletter to help small businesses grow and prosper. You'll find his low-cost marketing methods by clicking here.
Uncover Your Hidden Markets - To learn more about this author, visit Donald F. Pooley's Website.
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John BrennanJohn Brennan Ed.D. Dr. Brennan is President of Interpersonal Development, LLC, a training and development firm. Interpersonal Development has provided sales training and coaching to more than 3,000 sales reps from over 100 companies. A native of Australia, Dr. Brennan received his doctorate from the University of Rochester. His dissertation researched the effectiveness of Behavioral Modeling Technology in training people in interpersonal skills. While he has spent most of his career designing or delivering training, he was also a Vice-President of Sales of a training and development franchise with operations in 25 markets. Dr. Brennan has designed and delivered sales training in North America, Asia, Europe, Australia and the Middle East. He has been a guest speaker at numerous national and regional professional conferences. When Microsoft wanted Best Practices articles on sales for their web site, they called Dr. Brennan. The results are at http://office.microsoft.com/en-us/FX011387391033.aspx His firm’s clients have included Volvo, The Prudential, Merrill Lynch, Eastman Kodak, Gannett, Equifax Europe, the Economist Group and countless small businesses. - Visit John Brennan's Website |
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