Explore market demand Let’s get straight to the point: to increase your profitability, there is no romance, guesswork or “the big” secret. The only way is the strategy that is most consistent with your supply and demand.
What does this mean? Well, let’s go back to some basic market premises:
Offer: what you offer to the market. When turkey phone number list defining your offer, it is important not only to present to your audience what you have to offer, but also to understand what your value proposition is. Knowing your value proposition will help you understand what sets your offer apart from other competitors.
Demand is how much especially in the segment of ready-made the market (your current and potential audience) seeks your offer. And therein lies a great insight: many companies create tactics to exploit potential demand, not just current demand.
For example: if I run a language school and offer
an English course, I can start my strategy by taiwan lead exploring the demand of all those who are looking for an English course. But what about exploring those who are not necessarily looking for a course, but whose needs can be met by making that purchase?
We must remember that demand is not a fixed number Explore market demand but rather the result of a mathematical function that depends on several variables – and that we, marketing and sales professionals, can influence these variables.
What does this mean?
Back to the example: by offering an English course, I can explore different demands, not just the specific one for courses. I can reach potential audiences that:
They are looking for new opportunities in the job market;
Are seeking career development;
They want to fill free time in their routines;
They want to explore and/or exercise their minds;
They like to learn new things;
Etc.
Each of these audiences can be encouraged
purchase an English course to meet their specific needs.
Now that we’ve covered some basic concepts, let’s get back to strategy. Once you know your audience well and have defined ways in which you can influence them, you can move on to strategy.
How can I get people who enjoy learning new things to buy my English course? How can I explain to people looking for new job opportunities that English can be a differentiator on their resume? Among those looking for English courses. How can I influence them to decide that my English. Course is the Explore market demand best one to meet their needs?
This example may be easy but there
are many demands to be explored. And when we see this market with so many opportunities. We come to the conclusion that some companies are not exploring the audiences as they could. And that perhaps an “easy” example like this may not be so clear or easy.
Once the target audience is defined. When we know where they are and what they want. We can devise strategies to influence demand and, of course, generate sales at the end of the day. By understanding how to influence demand, we can plan sales processes and negotiation strategies so that we can achieve the long-awaited sale.