MODULE COMMUNICATION

3.4
Reaching Out to markets and
customers
LEARNING OBJECTIVES
• Reach customers & Engage Customers

• The use of big data when reaching out

• Focus on your core product

• Maintain satisfaction

• Utilize marketing tools that work best for you

• Implement a plan of action

 MODULE OUTLINE

Entrepreneurial mind set

What is market reach and why does it matter to your brand?

Reach customers & Engage Customers

The use of big data when reaching out

 ENTREPRENEURIAL MIND SET

• Focus on your core product

• Keep your pitch simple

• Maintain satisfaction

• Map it

• Utilize marketing tools that work best for you

• Implement a plan of action

• Exercise the plan

 FOCUS ON CORE PRODUCT

• Small-business owners can really never compete as much

• Small businesses should differentiate themselves by focusing on the unique
capabilities
• Specialization is the entrepreneur's greatest asset
 KEEP YOUR PITCH SIMPLE

• Make sure that is clear what your business is doing

• Every company should have a simple "elevator pitch"
• Short concise message
• Explain the value of the product or service
• If you don’t have a clear pitch you recognize it from verbal and physical
responses.
 MAINTAIN SATISFACTION

• Be clear about your goals and your desires in your business

• Delegate things that cause you discomfort

• Stretch and grow your capabilities in alignment with your interests and
expertise.

• Always make sure that you're focused on your priority tasks and delegate
other
 MAP IT

• Mapping your capabilities with your target clients' needs is an excellent way
for you to determine your service strategy

• A small company's value is that it can specialize in unique, top-quality

services

• Grow a list of decision-making criteria that you expect your clients to use

• Then rank your business, where you are positioned in each category
 UTILIZE MARKETING TOOLS THAT WORK

• Identify the top two marketing tools you've used in the past that have
worked for your company

• Decide what will yield the best return on your efforts

• Each tool should lead to a revenue-producing result in one way or another

 IMPLEMENT AN EXERCISE PLAN OF ACTION

• Establish goals that can be revised at three and six months

• Plug in specific actions that you'll do every day to help you meet your goals

• Complete the daily actions

• Avoid unplanned tasks waste precious time that should be applied toward
reaching your goal
 MARKET REACH
• Expand your audience and improve brand awareness, so you can:

• Evaluate your existing strategies, see what is missing

• Minimize risks, by better planning

• Plan ahead, by recognizing similar customers who could also benefit from
your service or product

• Disseminate information in a timely manner

• Increase the potential impact of important messages

• Create different messages to reach diverse / particular audiences

 REACH & ENGAGE CUSTOMERS

How to reach a new target market: Defining your next customer

• Get to know your current customers

• Look at your competition and assess your product/service

• Conduct a SWOT analysis of each potential audience

Then find the ideal channels for market reach

 Channels for market reach

Email marketing
• Include your email address on all communications.
• Host events (with sign-ups and data capture)
REACH & ENGAGE CUSTOMERS

• Optimize your website to encourage opt-ins

• Get active on blogs and forums.
• Run competitions to get people excited about your brand

Social media marketing

• Running social media contests where followers are asked to “tag” their
friends
• Using paid advertising to target specific audiences
• Hosting product giveaways
 Channels for market reach

Networking
• face-to-face connections
• establish an online community too
• find any forums or niche websites that you can get involved with
REACH & ENGAGE CUSTOMERS

Affiliate Marketing
• Work alongside another website or blogger
• Write your own guest posts for authority sites

Search engine optimization

• Adjust your market materials to suit the needs of a broader consumer base
• Change keywords
 CREATIVE WAYS TO REACH OUT
• Post Interesting, Shareable Content, e.g. (viral-style videos, fascinating blogs, news about events)
• Send Your Customers Holiday Greetings, create a custom app, let them know you value them?
• Notify Customers About Upcoming Specials and Sales, with a custom app, you keep your customers
updated with all the big news about your business
• Let Them Know When They’re Close, your custom app should have an inbuilt map and location service
• Notifications for Re-Engagement, your custom app should regular push notifications informing your
customers of your products, special offers, or new services.
• Personalized Discounts, your custom app will track their purchases, and offer discounts based on your
customers’ favorite items or regular purchases.
• Loyalty Points and Other Bonuses, the custom app helps to take it to another, more streamlined, more
personalized menu
 BIG DATA IMPACT
• Using Big Data Analytics to Boost Customer Acquisition and Retention
– Coca-Cola example, big data identifies various customer related patterns and trends
• Use of Big Data Analytics to Solve Advertisers Problem and Offer Marketing Insights
– Netflix example, this data is used to give them insights on what interests the subscribers most
• Big Data Analytics for Risk Management
– UOB bank from Singapore example, the big data risk management system reduces the calculation
time of the value at risk. Initially, it took about 18 hours, but with the risk management system that
uses big data, it only takes a few minutes
• Big Data Analytics As a Driver of Innovations and Product D
– Amazon Fresh and Whole Foods example, The data-driven logistics gives Amazon the expertise to
understand how customers buy groceries and how suppliers interact
• Use of Big Data in Supply Chain Management development
– PepsiCo example, the company’s clients provide reports including their warehouse inventory to the
company, to resolve and forecast the production and shipment needs
 EXPLORE NEW MARKETS
• Discover audiences you can not reach

• Customize your approach

• Initiate awareness for your brand

• Focus on your brand reputation

• Be the kind of brand that your new customers will be looking for
 SMALL TIPS IN GENERAL
• Word-of-mouth always works!
• ‘Free Stuff’
• Offer discounts and deals
• Start a Contest
• Create a Website
• Get Listed on Popular Local Directories
• Get on Social media
• Print and Distribute Flyers
• Get Involved In Volunteer Work
 FREE RESOURCES

https://www.entrepreneur.com/article/253562

https://smallbiztrends.com/