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"SalesMarketing101" Marketplace Definition
"SalesMarketing101" Marketplace Definition |
Marketplace Definition
Experience has shown that a common problem facing many Clients is that they have greatly underestimated the size of their "universe of suspects", which should include ALL of the potential Customers for their offerings. In extreme cases, we have shown Customers that they were only calling on less than 10 percent of the market that could buy from them! This has made us experts at identifying sources for the correct business & consumer data to put into a Client’s systems, to more accurately reflect the entirety of the marketplace(s) targeted. Of course, having a narrowly defined target market is wonderful, but are you positive that you have access to all of the Suspects within that market? Or, if your market is defined by a specific geography or industry, what happens to your business should that market decrease for some reason? Do you have a secondary market that you serve and how actively do you target it? Is there a way to look at your business from a different perspective to find a new set of potential Customers? What is your competition doing to define their marketplace? Is it possible for your business to move in another direction to differentiate yourself from the competition and perhaps earn business in a more profitable niche? Or does your company offer a product or service that is not being marketed as aggressively as your other offerings? Is it something that could be more profitable or assist with your cash flow? For instance, a Client in the construction industry began to more aggressively market his facilities maintenance services to improve cash flow on a monthly basis while the larger, long-term construction projects were being completed. If you have questions about how to better define the market(s) you serve, perhaps it is time to have a conversation with The Surfside Group. We look forward to helping you see your business from a new perspective. For more information on consulting and technology offerings from The Surfside Group, please contact: Suzanne Foley at 404-240-0664 or Matt Foley at 404-261-3349 |
