How to Expand Your Target Audience or Market
A quick question for business owners.
What is the one thing you can’t get enough of?
If you answered money, you’re wrong. OK, it’s true that you can’t have enough dough, but that applies to everyone. In business, the one thing you need your company to keep gaining is customers.
You just can’t have enough customers. The more customers you attract, the more sales you make.
This is why entrepreneurs like you are always looking for ways to expand their target audience or market. Unfortunately, considering that almost half of all businesses fail within a decade, it’s safe to say many business owners don’t succeed at this.
We’re here to help.
Read on for a couple of useful tips on how to reach and attract more customers.
Create a Product/Service That Markets Itself
Ever used a product or service that was so good you couldn’t resist telling your friends about it?
That’s a perfect example of a good that markets itself. And because word-of-mouth marketing is so powerful, there’s a good chance your friends purchased the product as well. The owner of the product acquired new customers without spending a dime on marketing or advertising. All they had to do was create an excellent product or service.
As a business owner, therein lies an important lesson.
If you don’t want to spend sleepless nights crafting aggressive marketing strategies to reach new customers, start by creating a killer product or service. With that, you only need to secure your first batch of customers, after which you can count on free word-of-mouth marketing to gain you the next batch of customers.
Think Out of the Box When Marketing
Let’s face it: Even the best products need to be marked and advertised since word-of-mouth marketing can only get you so far. As competing products and services enter the market, the consumer is going to have multiple options, so there’s no guarantee they’ll choose your product even if a close friend tells them about it.
You have to run marketing campaigns.
This, you know, no doubt. But are your marketing campaigns effective at securing new customers?
While it’s important to continue marketing your product to an existing customer, your marketing campaign should also reach someone who has never heard about your business. To do this, you must think out of the box.
If you’re always marketing your business on Facebook, Google, and other usual platforms, you’re losing it. There are new audiences to be reached in niche platforms, such as Pinterest. On that note, here’s what you need to know about advertising with Pinterest.
Diversify Your Product/Service Line
Would Apple have the same number of customers if they stuck to selling just computers? Offering the iPhone, iPad and a host of other products and services has definitely increased their customer base hundredfold.
You need to do the same when you want to widen your target audience. Offer a new product or service and you’ll gain new customers.
Expand Your Target Audience Without Trying So Hard
Successfully expanding your target audience means you’ll be in a better position to make more sales. This is how you achieve company growth. Put the tips fleshed out above to use and you’ll see good results.
Stay hooked to our blog for more helpful business and marketing tips.
Samantha Gaines wrote this article on behalf of FreeUp. FreeUp is the fastest-growing freelance marketplace in the US. FreeUp only accepts the top 1% of freelance applicants. Click here to get access to the top freelancers in the world.
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