3 must-read keys for expanding your small local business
1. Team Up
No one knows your market like you! What are the main characteristics of your target audience? Find someone else out there who isn't a competitor, but who reaches the same class of customers that you do. Team up with them to do joint promotions!
We all know that two is better than one. The dramatic end results will be an effective and cost-cutting advertising venture the nets both of you a nice profit.
I once dealt with a veterinarian who promoted a local dog groomer... who in turn promoted the local veterinarian. Yeah, it's kind of a "you scratch my back and I'll scratch yours" set up, but hey it works for both parties. Think about it... customers are going to feel that the dog groomer is in the know about who the best vet in town is, as well as trust the vet to know who is the best dog groomer in the area. Sure, it's a win, win situation for both the groomer and the vet.
2. Dig out New Niche Markets
Niche markets are everywhere, right under your nose! Within the customer audience that you serve right now are groups of people who share common traits. Think about it... maybe you have a group who speaks English or Spanish, a group of teens, and a group of middle-class family men and women.
Evaluate these classes of people, and discover the unique needs and desires they share. That will set you up to customize your advertising campaign directly to them. It's not hard to take your current ads and make a few changes to adjust to the niches. They'll be impressed that you understand THEM, and the increase in your profits will be the best thanks you can get.
3. Hop on the Latest Trends
Get in on the first floor of the latest trend... before your competition becomes aware of it. Be a leader in the industry! Hey, Internet marketing is still profitable all around, but businesses who jumped on the bandwagon early in the game got the best proceeds for their insight.
We're not talking about dropping everything and making a mad dash! Wise marketers add to their already profitable businesses when they see the "new and coming" techniques. Keep the customers you already have on board, and add to your existing products and services.
You can quickly and easily strengthen your business and push out the competition by adding new layers to your existing business, teaming up for joint promotions, and discovering new markets to reach.