Market reach is the number of potential customers your business can tap using different types of strategies. Regardless of the type of business you have, expanding your market reach is an essential part of growing your business and generating revenue.
As you implement your marketing strategies for the New Year, pause for a moment and assess how well you understand your target customers. Do you know where to find them? Do you know how to reach out to them?
Have you been struggling with acquiring customers? If you are, consider making it your New Year’s resolution to focus on understanding your target market so you could expand your reach successfully.
Here are some goals you could start with to improve your reach.
Target Multiple Audiences
If you’re new to marketing, it may not be very easy to identify your target market, especially without enough data to evaluate. That’s okay.
The best way to approach this is to consider targeting multiple audiences. Doing so allows you to see which types of audiences are responsive to your marketing message. At the same time, you’ll improve your business’s brand awareness.
Once you have sufficient data, you could start narrowing down your audience and focusing on the market with the highest potential.
Establish Your Social Media Presence
The majority —if not all— of your potential customers is active on at least one social media platform.
Apart from being seen by your prospect customers, being active on social media allows people to reshare your posts or share your profile pages with their networks. As a result, you’re able to reach more prospects.
The key is to determine which platform most of your potential customers are active in. Share information that your prospects are interested in to build your credibility in the business. Additionally, talk about your products/services and company so they could learn more about you and trust you.
Collaborate with Other Businesses
A partnership with a business that complements your organisation is a great way to expand your horizon and tap into another company’s audience.
Join community events and industry conferences. Connect with other organisations that share your company’s values and culture. Online, you could join and be active on forums and groups.
Implement SEO Strategies on Your Website
If you have a website, consider implementing SEO (Search Engine Optimisation) strategies so your site appears on the search results page of search engines like Google and Yahoo!.
You could start by identifying search terms or keywords that your target customers use to search for products/services like yours. Then, use those terms on your website.
SEO helps your website to be seen by people who are searching for services or products that you offer. The goal is for them to see your site, choose you over the other results, and visit your website.
This year, consider measuring and analysing your market reach. You’d be surprised to find out how many more opportunities you could get by identifying the right audience and making sure your market sees you. For more information, please call us at(+613) 9836 2900 or fill out our contact form.