Discovering New Markets

Stand back and examine the possibilities will free up creative marketing strategies that reside deep in your mind...

When you review your marketing plan (and you should review your marketing plan at least every 6 months), be sure to look at all possible markets. As a small business owner, you can instantly identify your key audience, your "bread and butter" so to speak. But as the economy tightens, costs rise, and business slows, one of the most critical moves to make for the continued success of your business is to expand to new markets. Let's say you've always sold to commercial accounts via a third party - so your marketing and advertising budget goes to wooing that third party.

How about going around the party directly to the customer? How could you accomplish this? How about residential customers? Industries you haven't tapped? The idea is to identify and explore all possible markets. That's not to say that every audience you review will be a winner for you. Just taking the time out to stand back and examine the possibilities will free up creative marketing strategies that reside deep in your mind, but get lost to the everyday job of running your own company.

Think about it! Then take action. Inspired 2 Design