Download pdf - Grow Your Market Understanding to Grow Your Business

GROW YOUR MARKET UNDERSTANDING TO GROW

YOUR BUSINESSBreak out of your current market and into new ones with our guide to using

business data analysis to maximise the potential of your business’ bottom line.

www.marketscan.co.uk

ARE YOU SITTING COMFORTABLY?Then maybe you have a problem...

... that your business, while successful, is too comfortable in its current position and not pushing out into new markets. Use the following tactics to get up off of those laurels and

move your company up to the next level.


DO LOOK BACKWe’re told never to look back, to focus on the future, to keep moving forward. But pausing for a moment and taking stock can help spot new or emerging

markets that could be vital to your company’s continuing success:


ANALYSE YOUR CURRENT SERVICES AND PRODUCTSCould they be adapted or developed further for new markets?



LOOK FOR INSIGHTS INTO THESE POTENTIAL MARKETSAre customers asking you for new products/services that you’re in a position to exploit?




MONITOR YOUR COMPETITORSAre there areas that they have moved into that you haven’t? If so, why haven’t you?




MONITOR YOUR COMPETITORSAre there areas that they have moved into that you haven’t? If so, why haven’t you?

BE HONEST WITH YOURSELFAre your competitors winning business that you should be landing instead? Just why are

customers choosing your rival over you?


I is SO APPROVEDCustomers prefer using companies that have received an official stamp of

approval; it offers reassurance, while adding gravitas to the business.

Consider gaining an ISO certification. Globally recognised, it gives you a useful edge in the eyes of customers over any competitors without it and could make all the difference when

they come to decide which company they want to do business with.


44%of companies that became ISO

9001-certified enjoyed increased revenue.

http://globial.com/globialtalksbusiness/44-firms-use-iso-certification-win-international-business/


LINK In WITH LIKE-MINDED PEOPLEIdentified a potential market but not sure how to proceed? Then get networking...

In this connected age, it’s never been easier to source experts in particular markets. Use powerful social media platforms such as LinkedIn to approach professionals who could help your company move into a new market, either acting as a consultant or by joining your team.


OPTIMISE TO MOBILISEYour online presence is a vital part of your business – or it should be.

Attract new customers by ensuring that your website is fully SEO-optimised – it needs to appear as high as possible in search results. Once the potential customer has landed on your webpage, ensure it is easy to

navigate, error-free and inviting. Plus optimise your site for mobile platforms so it can be seen in all its glory, whatever the viewing platform.


HIDING IN PLAIN SIGHT?Your database could be hiding insights into the markets you should be expanding into.

Use a reputable data provider to carry out business data analysis on your records – they will be able to drill down into the database and supply new sales leads in markets that you may not have considered before, all

based on your existing customers.

These leads can then be imported seamlessly into your company’s CRM system, ready to be acted on.


GET YOUR HOUSE IN ORDERBy carrying out business data analysis and optimising your database – removing gone-aways and errors and identifying your best customers – you can maximise your ROI on the markets you already operate in.

The net result? It frees up more revenue to invest in exploiting new markets.


Looking at your current markets – and asking yourself if you are exploiting them to their full.

Analysing your competitors and their market reach.

Listening to customers – they could offer vital insights into new products and services that you

can then pursue.

Maximising your existing potential – from social media networking and ISO certification to a

fully SEO-optimised, mobile-friendly website.

Hiring a data provider to reveal the hidden potential of your database.

OPEN YOUR COMPANY UP TO NEW MARKETS BY:


UNCOVER HOW DATA PROVIDERS CAN HELP WITH BUSINESS DATA ANALYSIS WITH OUR FREE EGUIDE:

THE MISSING LINK - HOW DATA CLEANSING CAN GET YOU MORE, HIGHER QUALITY LEADS

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http://content.marketscan.co.uk/the-missing-link-how-data-cleansing-can-get-you-more-higher-quality-leads