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I know its been a while since I last put up a post but its been a busy time in the office as we are expanding rapidly.
We are opening offices in Melbourne, Perth and Adelaide.
The number one questions people ask me is how do I find customers or readers. Its a hard process and sometimes I ask myself the same question. Customers come and go but how do you reestablish yourself?
How to get started.
It’s never too early to focus on creating new products or repackaging existing products for new markets. Here are five steps for doing so:
1. Plan ahead. While you’re developing your startup, you should already be thinking about a secondary market. Position your product from the get-go knowing that you’ll want to expand, and build this plan into your overall launch strategy.
2. Define your secondary market. A secondary market can be as specific as an age group or as broad as an entirely new vertical. Use your company’s mission and goals, as well as market research, to drive just how vast your expansion is.
3. Walk before running. Make a timeline of your launch strategy, and take things incrementally. Don’t try to tackle everything at once; wait until you’ve successfully penetrated your primary market before diving into the secondary one.
4. Refine your marketing. Be prepared to adjust your marketing strategy once your secondary market opens up, but don’t do anything too drastic; you still need to appeal to your primary market. Funding a new strategy can be hard for many businesses with limited or no marketing staff, but the extra revenue that a secondary market brings in can reduce the impact of higher costs.
5. Stay focused. Always remember that your primary market is the core of your business. Never take it for granted, and never neglect it. Your secondary market is just that — secondary. The best way to avoid neglecting your core market is by constantly listening to customers, using metrics, tracking sales and incorporating feedback into improvement. Consider having separate teams dedicated to each market that are both searching for ways to improve your product, customer service and marketing techniques.
As an entrepreneur, I know you’re faced with so many distractions every day. But if you can resist the temptation of short-term gains and focus on tapping into new markets, you’ll find yourself enjoying success long into the future.