Are you following the old marketing rules or the new ones?
With the rapid advancement of technology today, the evolution of marketing has resulted in many changes and if you haven’t updated your marketing mindset your business is at risk of getting left behind. The resources available to consumers have made them smarter shoppers and have increased the challenges that marketers face, making it increasingly difficult to maintain a marketing strategy over a long period of time.
So while technology continues to change and the marketing sphere presents new opportunities, it’s crucial that you keep up with the changing times. Instead of getting stuck in your marketing ways, take advantage of the changes and make it your goal to beat your competitors to the market with the latest marketing strategies.
Find a Niche
Appealing to a large target audience is now a thing of the past. Many consumer items that are used by large demographics have been done and reinvented and done again, so it’s time to break free from the generalized consumer product that will work for everyone. Instead focus on solving a particular consumer problem by targeting a small group of individuals that will be as excited and passionate about your product as you are.
Transform Buyers into Advocates
The benefit of focusing on a niche market is converting buyers into advocates. Traditionally face-to-face interaction between consumers was the only way customers could spread their feedback, but with the Internet opening communication lines across the world you want customers on talking on your behalf. By creating a happy customer and encouraging them to share their feedback, you’ve gained a great advocate for your product and a valuable selling resource.
Listen to Your Customers
With consumers’ voices getting louder in the market place, it’s essential that you actually listen to what they have to say. Whether they offer improvements ideas on an existing product, or they wish for a product that has yet to be produced, tuning into their feedback could land you with the next big thing and an opportunity to capitalize on your listening skills.
