Discovering untapped market segments that are teeming with responsive customers is like finding an untouched gold mine. You’ll be able to effectively promote your latest offers without competing against big brands with huge advertising and marketing budgets. You’re also likely to reach and communicate the right messages to your target audiences in these new niche markets with very minimal resistance. That’s because, chances are, other brands including non-competing ones have yet to discover the same niche markets.
Pulling this off isn’t as quick and simple as it sounds. That’s because for you to do this, you’ll need a handful of timely marketing development strategies. Plus, because strategies by themselves don’t produce bottom-line results, you’ll need the knowledge and expertise to correctly implement these into your promotional activities. You’re also likely to require additional manpower resources to help you constantly monitor and tweak your campaigns. So as it turns out, you might end up spending more time and money just to do this right.
How exactly can you do this without investing more than what you can afford at the moment? Your best option is to choose the right agency where you can outsource your marketing and advertising campaign development requirements to find untapped market segments for your latest offers. With this option, you’ll be able to avoid all the costs and problems involved in setting up your own teams of in-house agents. Remember, you’ll also need to spend time and money on ensuring that they have the right tools, equipment and back office support resources in place. But that’s if you decide to build your own in-house staff of marketing specialists and advertising experts. Plus, don’t forget that in case you choose to do this on your own, you’re more likely to run into problems if you don’t have significant experience in doing this, and this in itself is a huge resource-draining practice.
Another viable option for you to explore is to learn fundamental talkingAds marketing development concepts that have withstood the test of time across many niches and industries all around the world. To help you out — Here’s a brief list of the top ones to keep in mind:
Fundamental Marketing Development Concepts You Should Remember At All Times
- The interests and needs of your target customers should be at the front and center of your product development, content publishing, advertising and marketing campaigns.
Now let’s take this one at a time. First, the solutions you need to create for your ideal prospects and customers should be able to satisfy their immediate needs and resolve their most crucial problems. Of course, you should niche down and concentrate on just a particular set of needs and problems that you want to address. Remember, it’ll be impossible for you to solve all their issues and provide them with all their needs. So for example, if you want to make it quicker, easier and more convenient for your target customers to train, take good care and have fun with their pet dogs, then let that be the core mission to drive and motivate your business. So that’s product development, in a nutshell.
Second, as for content publishing, keep in mind that you should be able to clearly communicate the specific benefits that your ideal customers can get from your solutions. You also need to illustrate the main reasons why they should pick your products over others in the market, which means the value propositions of your brand that differentiate your products from all the rest should be strategically highlighted at this point. Then, you must also show them that you know what you’re doing, saying, building and supporting through your organic content materials. This means let your specialized expertise and authority knowledge in relevant subject areas and niches shine through your posts and content materials. This is a vital component of this fundamental marketing development concept.
Third, as for advertising and marketing, this primarily involves how you develop your sales funnel. Your ads, organic content and adverts should be able to captivate your audience. These should grab their attention and entice them to listen to the other things you have to say. By taking a closer look at what you have to offer, this presents you with the opportunity to pitch irresistible opt-in offers that can enable you to build up your database of subscribers. Once you have more than one way to follow-up with them, you can steadily build up their trust and confidence in your specialized skills, knowledge and expertise. This allows you to get a more positive response from many of your subscribers once you recommend your solutions to them.
- Viral marketing results are often the product of well-designed products and world-class customer support.
This is why it’s crucial for you to place the needs and interests of your target customers front and center in your product development campaigns. The solutions you offer to them should be able to really provide them with the benefits you promise. After all, they’re banking on your word. Once you do this right, they’ll be talking about your products while they’re engaged in relevant discussions with their peers. This generates a snowball effect in terms of producing interest in your brand, content and offers from your target niche markets.
As for customer support, lots of happy customers often mention the brands and establishments that treat them professionally whenever they have inquiries and concerns about the solutions they’re interested in. Aside from generating viral marketing results for your business as many of your customers start spreading the word about their world-class experience in dealing with the support teams of your organization, you’ll also be able to retain most of your existing customers by consistently providing them with professional customer support services.
This is in fact an important marketing development strategy. That’s because by retaining most of your customers, you’re also presented with the opportunity to generate repeat sales from them. Keep in mind, it’s 10 to 12 times less costly to close a sale with a long time customer than it is to acquire a new one. Plus, it’s 60 to 70% more straightforward to do the former than the latter.
Let these fundamental marketing development concepts guide you in your quest to discover and serve untapped market segments. Don’t forget to run small tests here and there whenever you want to explore certain tactics and strategies. This way, you’ll be able to closely monitor the results of your tests, which can allow you to tweak your techniques to best suit each situation.