Set On the Pathway To Success



Volume 8, Issue #8, 19th April 2009
Publisher Irena Whitfield
iwhitfield@thecassiopeia.com
http://www.thecassiopeia.com/

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Today's Feature Article

7 Tips How To Target Market Effectively
Irena Whitfield

At times, like these, when all people, newspapers, TV and even strangers in the streets talk about 'the crisis' it is a must to target your specific market ie your niche effectively to make money, no matter what branch you are in.

The seven tips below give you general reminders to get you back on the track if the crisis has lead you astray:

1. Stay alert to trends that might impact your target market, product or promotion strategy: this is nothing new because every entrepreneur has to follow the trends in any business environment. I mention it here because at times like economic crisis, even business people tend to overlook this basic task and focus on other activities they consider more important.

2. Read market research studies about your profession,industry, product, target market groups, etc: again one of the often overlooked items at times of crisis but more important than most of the others.

3. Collect competitorsí promo materials incl ads, brochures and leaflets; study them and get vital information about strategy, product features and benefits, etc: if you want to win over your competition any time, you must know what they're doing and to collectm and study their promo materials aimed at their market is the easiest you can do. Plus, of course, modify and apply what appropriate and working in your niche.

4. Ask clients why they buy/hire you and get suggestions for improvement: this is one of the easiest and cheapest ways to improve your products and services to what your customers need.

5. Ask former clients why they left you: in fact, the same as above - again this information could be a valuable source of information for your improvement even though sometimes harder to obtain.

6. Identify new markets: at times of crisis, this is more than imperative: conditions are changing, priorities of customers are shifting, people are leaving their buying habits, moving to new areas, and you must be on the watch and ready to jump at opportunities like this to get new income sources.

7. Join email lists related to your branch (niche): subscribe to an Internet forums, newsgroups or an email lists that serve your target market: information and internal news sources are treasures you can't survive without ie getting the right information at the right time plus be prepared to act on it is what separates the winners from the losers.

Basically, the only advice working miracles in any business environment, and valid especially at times of crisis is: 'come up with a unique item and you will win'.

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I feel that the greatest reward for doing is the opportunity to do more.
Dr. Jonas Edward Salk

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