Uncover Your Hidden Markets
copyright 2004 Bob Leduc
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 market 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 in
"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.
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Bob Leduc is a Sales Consultant with 30 years experience in generating
low-cost leads. He recently wrote a manual for small business owners,
"How
to Build Your Small Business Fast With Simple Postcards",
and several other publications to help small businesses grow and
prosper. For more info: mailto:BobLeduc@aol.com
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