Monday, April 25, 2011

Reaching Your Target Market Part 1

Summer time is approaching and I bet you are starting to think about how to get some extra coin in your pocket? Well, that little business venture that you decided to start is looking pretty good right now, but there is only one small problem: You don't know how to reach your target market.

Well you have come to the right place because in this week's blog post, we are going to give you some great tips on how to reach your target market and make the most out of your product/service. Here are the first five of ten tips for you to utilize when you are getting that business going!

Tip #1: Narrow your target audience

Let's say theoretically you want to start a cleaning service. Since your cleaning service is currently both residential and commercial, your target currently includes everyone in your local area. So your first decision is how to limit yourself geographically. I suggest that you focus your energies on only one section of your city and then expand your selected zone as finances, organizational skills and available manpower. Choose a specific section of the city and focus your efforts there.

Tip #2: Attend functions

By attending functions that are related to your business, will draw people that fall into your groupings. The events may be home shows, boat shows, yard and garden shows or some other community events. Volunteer your services as a guest speaker or to supply your helpful hands to make sure that the event runs smoothly. Find a place at these events that you can leave some of your business cards and brochures if you have one.

Tip #3: Contact trade journals

Contact any trade journals that are widely read in your geographic area and take out an ad in an upcoming issue. This will get your name in front of people that will need your services. To draw in leads and potential customers you might consider offering a small discount in the ad if the customer mentions seeing the ad in the journal. This will allow you to track the effectiveness of your advertising.

Tip #4: Get Personal

Though many will remark that getting too personal with a company is not their idea of a strong business relationship, this is certainly not the case. Most individuals enjoy the attention and added sense of respect that a personal approach to business affords. Resorting to the marketing strategies of the "old days" could prove to be quite effective in today's economy. Getting out and shaking a few hands can land a number of very lucrative business relationships. If for no other reason, most consumers will be intrigued at the novelty of a small business offering their hand in friendship.

Tip #5: Think BIG

If one has the budget to rent a Segway and give out coupons, flyers, or free samples of a product, or buy wholesale products, one should. Consumers appreciate a whole-hearted attempt to win their loyalty. In today's society of mega corporations, it can be very refreshing to find a business that appreciates a customer's business. Though grandiose efforts are not totally necessary to express appreciation to new customers, a large campaign can reach a great deal of individuals.

Stay tuned for more great tips about reaching your target market from you Credit Union!

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