Ready to add another market?

So, you think you're ready to go after another market?

Are you sure?

My question to you FIRST is:

Have you mastered the list of contacts and prospects you've got already? Are you keeping in touch with them a couple times a month either in their mailbox, their inbox or in their face? Do they all know and think of you all the time?

If not - I would suggest you rethink this??? But, hey, that's just me.

I believe it's important to set up easy to follow, easily maintainable, logical and effective marketing systems in your business. This doesn't matter if you're large or small but without systems you could be running-a-muck!

Then, once you have these set systems in place for mailings, emailing, networking, advertising, publicity, speaking, tradeshows, etc. AND THEY ARE PRODUCING RESULTS THAT YOU WANT. (the important key)

Then, and only then should you add on another market, industry, target audience, group of prospects - you get the picture.

Why?

Because if you keep adding new markets or new groups to target without effective follow up marketing systems to keep in touch with them - you've completely wasted your time and money on developing those new leads.

Many small business owners do this every day. They keep reaching for that new business, new lead, new way to get their name out there, new networking group and new advertising medium to generate the new business. But you know what? 9 times out of 10 they forget to do their consistent, effective, relationship building, ongoing marketing and follow up.

Sound familiar by chance?

If and when you've done all this with everyone and anyone you know and who's on your list and you are still doing it consistently (because it's 10 times easier to get repeat or referral business than it is new business)...

Then, you can start marketing to a new market. Ok? Sound like a plan? Believe me; you will thank me if you set all this up ahead of time. Otherwise you'll go marketing to a new market, get a ton of leads and not have time to even follow up on them much less the ones you already have.

Relationship Marketing is the easiest and most effective type of marketing out there - ask anyone in the industry. For small business owners and entrepreneurs this is a must if you want to succeed.

So, please don't try to sell your products and services to everyone just because they breathe air, niche it out to where you can have a specific message to your unique target audience so when they see your message - they say "Hey, that's for me!"

Now, if you are ready to take on another market....you can try:

- Choosing another business industry type

For example, if you already target attorneys and insurance agents, would it make sense then to add on commercial brokers and mortgage consultants or some other industry type?

- Adding another zip code or area

For example if you primarily concentrate your business in one geographical area, network in that area and serve other business owners B2B in that area, then you might simply take on another area, their networking events and those same business types in that area. This is what I do when I join another chamber - I take on all kinds of networking in that area to be very visible; but I don' t add another chamber until I've become totally top of mind with the ones I'm in (and assuming I had more time to network!).

- Duplicate something you're already doing but for a different market

For example, if you run a workshop or have a coaching program of some kind specifically targeted to say spa owners; is it possible to duplicate that process/program for massage therapists, chiropractors, dentists, etc.?

- Adding online marketing to reach the masses - (or you can still localize your online searches as well)

This might require packaging your expertise in such a way that you could sell it online in Ebooks, Teleclasses, coaching programs, etc.