Maximising on the Potential of Your Target Market

Every business has to work hard to reach their target market. First and foremost, in fact, you need to ensure that your company knows who its target market includes. That can be exhausting, can’t it? Offering a wide range of products and services and trying to figure out whether different products and services might reach different corners of the potential market is tough.

You also have to consider whether you can widen the number of consumers to whom your company and brand will appeal. That’s going to the be the topic of this article because there are always ways to maximise the potential of your target market and to reach a wider range of people. Here are just a few ideas that might give you some inspiration to rethink your approach.

Observe your competitors

If you feel that you might not be harnessing the full potential of your target market and there are customers within the realm of your industry that you could also be reaching then it’s time to do a little “research” (essentially, do some more digging). Take a look at your competitors and see what they’re offering.

If they’re reaching people that you can’t reach but still offering a very similar product or service then you need to figure out what their gimmick is. Once you do, you need to find a way to undercut them; offer a better discount or deal if customers come to you instead. Find your gap in the market. Gather as much information as you can. It might seem sneaky… and that’s because it is.

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Marketing

Every type of marketing that matters in the modern age takes place online. Come on; scrap the posters and billboards. They’re relics now. If you want your business to truly maximise the potential of your target market then you need to make sure you’re reaching them in every place possible.

The majority of consumers aren’t browsing for goods on the high street anymore; they’re browsing on the internet. Everything is virtual now and that means your business needs a great online presence if it wants to make an impact on its target market.

The goal is to create a massive marketing campaign for a modest amount of money and the vast majority of online resources available to you offer just that; in fact, most of them are free, so why on earth would any company want to pay for advertising these days? Starting a company blog is a great way of getting information out there and reeling in new customers from your market with content that ranks well on search engines (of course, strong content on your main business website will help with this too).

Woman Wearing Earpiece Using White Laptop Computer

Customer service

This is the area in which so many companies with great potential end up falling short of the mark. You need to remain connected with your customers so that you can help them and find out what your business is doing well or not so well. Yes, I know — negative feedback can be hard to hear but do you know what’s worse?

Not hearing what’s wrong with your business and losing customers. The way to get customer service just right is to make it clear that you value every single person who buys or wants to buy from your company. Don’t silence the complaints your business gets —you need to welcome consumer opinions.

This isn’t just about proving that your business cares about hearing what your customers have to say so you can keep them interested in your products or services; it’s about knowing what’s wrong with your company so you can improve your standard of service.

It’s a win-win situation. Customers are happy that they’ve been heard properly and your business will be happier when it starts to deliver an even better service to people. Not all suggestions will be overly negative. Sometimes, you could simply invite customers to offer ideas as to things they think your company could do to provide an even better service.

The best kind of market research you can do to find out what your customers want is to directly ask the customers themselves. That’s a certain way of beating the competition, so don’t be scared to start an open discussion. A strong connection with your client-base is a good thing (they won’t always bite).

Assertive Marketing Strategies to Get You Essential Brand Exposure

Assertiveness is defined as being confident and occasionally forceful. When you’re trying to grow a brand or become a better business, it takes a lot of courage to exert your force and influence on consumers. This is because there’s a delicate balance between treating your customers well and giving them all kinds of trouble that will eventually force them to stop doing business with you.

Assertiveness can be shown in your marketing campaigns and also how you react on social media. If you’re going to try to improve your brand awareness, then you need to understand when to be aggressive and when to hold yourself back. In this article, we’ll be discussing some of the ways that you can be assertive in your chosen industry without being overbearing.

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Define Your Target Market

One of the biggest problems in business is being unable to define your own audience. There’s a difference between trying to meet the demands of your consumers and setting trends. Although the line may seem thin in some cases, there’s a huge difference that needs to be understood if you want to use assertiveness as a positive quality that will help grow your brand.

One of the best ways to define your market is to look for business sales leads. With these at your disposal, you can target your marketing at people who you know will make use of your products and services. If you try to appeal to a wider audience, then you risk watering down your brand and alienating the customers who have a need for your niche.

Define your own audience and set trends if you want to be successful in business — don’t let the market define you.

Too Little, Too Late

Taking advantage of situations in the industry is a quality that not many marketers or business owners have. Being able to read data and keep up with social media is the job of a dedicated community manager that understands how the internet works.

Fail to capitalise on situations that could be beneficial to your business and you run the risk of doing too little too late. When your customers are dissatisfied with a specific product or service, it’s your job as the owner to identify what is causing these issues and fix them immediately before it’s too late.

If there’s an opportunity in the industry then it’s also your responsibility to take advantage of it before another business beats you to it.

Differentiating Assertive and Aggressive

Being aggressive is nicer way of saying being annoying. We’ve all seen those annoying marketing campaigns that try to get in our face at every opportunity. While it’s actually a good strategy to get your brand name into people’s minds, it’s also expensive and not good for long-term growth if you’re a small or medium business.

In order to be assertive, you need to understand when you’re being annoying to the consumer and when you need to pull your advertising or promotional campaigns to prevent your business from becoming a nuisance.

My Three Phresh Tips for New Freelancers

Following the 2009 global recession, there’s been an upsurge in not only entrepreneurship, but freelancing as well with progressively more individuals (probably including you) venturing out on their own to chase their dreams in the business world. While this step towards self-employment can often be a daunting adventure, when done correctly, the rewards are worth the hard work and sacrifice.

In collaboration with Invoice2Go (a leading invoice app and resource), I will be sharing three tips focused on time management, self-motivation, and social media that are guaranteed to help make you a better freelancer for the voyage ahead.

1. Create and maintain a timesheet to track all your work.
It is important that your time and your customers’ time are never wasted, since “time is money”. You want to ensure that all your deadlines are always met within the mutually agreed time frame. A timesheet or personal time log is one of the best tools to help with your productivity. There is a lot of software out there, but Microsoft Excel is just as effective. Try to make it as detail as possible, capturing minutes, hours, and days spent per task/project, in addition to project categorisation. You will know what projects you can take on and when. With recorded data on your previous projects, it will give you a good idea of how long it takes you on average to complete a specific project. So let’s say it takes you 8 hours to complete a project and three prospective customers offered you separate projects today with the same deadline. Under a 24-hour turnaround policy, for instance, you would know realistically that one project would have to be declined.

Richard Branson - autobio cover
It’s an incredible autobiography that displays both life and business lessons

2. Stay motivated by reading books and blog posts by established founders and CEOs.
Freelancing can be challenging and some days you will feel like giving up on your pursuits. Reading is not only the gateway to tapping into knowledge, but it is a reliable source to discover inspiration. Find personalities in business and entrepreneurship that you look up to and then get your hands on their biographies, autobiographies, and blog posts and learn as much as possible. I can almost guarantee you will absorb a lot from their personal and professional experiences. Personally, I look to Sir Richard Branson (Virgin Group Founder and CEO) who always has a lot of insight and inspiration to share with readers. In Branson’s autobiography Losing My Virginity, I took away a myriad of lessons such as taking risks; going against the status quo; negotiating good deals; reinvention; always keeping a notebook handy; and trusting your instincts. It is definitely worth leafing through.

Modern Keyboard With Colored Social Network Buttons.
Figure out what platforms your target audience and clients are already using and go to them

3. Maintain steady social media presence across platforms used by your target audience and customers.
Take the time to develop your own social media strategy with clear goals and objectives. Be consistent with how you post, present yourself, your products and services, and the content you share across social media platforms. Branding is paramount to your success. It is important that you spend the time to figure out who your target audience and intended customers are and use the social media platforms that they will mostly likely be on for the most reach. If your target audience are young people, they will most likely be using Snapchat, Instagram, and YouTube. The professional crowd will be using platforms like LinkedIn, Facebook, Google+, and Twitter. In my case, I use around six platforms, including Pinterest, which is such an underrated channel for exposure. I also found it’s important to get into blogging and creating video content.