Business Strategy Archives - Page 4 of 4

The development of an application has a key stage that requires marketing to the target audience to spark and maintain the use of the application. The advertisement of an application requires that you have several advertising techniques to achieve the desired results. The size of the company and its reputation as well as the marketing budget, dictate the channels used and the success rate in reaching the target audience. Trade shows can act as avenues for advertising an application. However, there are certain factors that one needs to consider and appropriately prepare and plan before a trade show turns out to be a success.

Choice of Trade Shows

There are so many trade shows that occur during the year. The various trade shows have varying themes and focus on different target markets. It would be prudent to define the target market of your product or application and choose the correct audience. The target audience selected will help to choose the correct trade shows to plan and attend. Applications will require trade show displays themed on technology and applications. It would attract the right type of potential investors as well as clients who rely on technology.

Marketing Strategy

Setting up an exhibition at a trade show is not a guarantee that you will convert your stock into sales, or rather you will attract a large following to try your applications. It requires proper planning on how you expect your marketing efforts to yield results. You need to have a marketing team that will assist in designing the marketing process. The marketing aspect of your business should commence before the trade show and will continue during and after the trade show. The structured layout of the marketing process will help to coordinate the activities and consequently harness all efforts towards the one goal of securing subscribers to the application.

Appropriate Display

Participating in a trade show can only guarantee results if you understand how to package your products and services. The layout of your tent and the technology that you use will help sell your business. The location of the tent is part of the display process. The technology utilized such as large phones for the display of the application. The use of video displays will enhance the quality of your presentation and sell your business. Technology-based businesses require to prove to their target market that they can actually perform efficiently and effectively.

Making Follow-Ups

The marketing process planned while utilizing a trade show as a form of marketing plans for tasks that begin before the trade show and continue during and after the trade show. One of the activities that is done after the trade shows includes follow-up on any leads generated during the trade show. Follow-ups could primarily occur via social media and email since the target audience and internet users who may have an opportunity to visit the application are online. The avenues to use include Facebook, Twitter, Instagram, Snap Chat, What’s App, Reddit, among other social media platforms.

The process of advertising is one that is circular in nature and revolves around the company activities to not only to sustain sales but also gain new business. Applications form a technology-based innovation that tends to also depend on a technology-based advertisement.

Therefore, emphasis should be on using the right technology and media to achieve the desired target of acquiring users.

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When you launch a new business, you need to identify who your target demographic are going to be and focus your marketing efforts on them. But that does bring some limitations. A year or two down the line, if your marketing strategy is a success, you will have sold products to a vast chunk of that target demographic and you might see sales start to slow. If you’re going to maintain that momentum, you need to start looking outside of your original target market and appeal to some new demographics that wouldn’t previously have bought your products. It’s often difficult to break into those new markets but follow this advice and you’ll see an increase in sales in no time.

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Rebranding

Rebranding is the most important step because all of your current branding is designed with a specific type of person in mind. It won’t appeal to your new target market and so you need to go through a rebranding process and alter all of your marketing materials with your new target demographic in mind. It’s a fairly expensive process so make sure that you’ve got enough funding to see it through to the end. Before you start the rebrand, you need to work out who you’re trying to appeal to and understand that market.

Choose A Target Market

It’s not enough to just say, we’re making plenty of sales to middle aged men, for example, let’s try to sell to everybody else. You need to think about your product and which other groups might have use for it. If you’re selling beard trimmers to older men, for example, you won’t get far trying to appeal to a female market. However, you might be able to sell to younger men if you change the branding in a way that appeals to them. If you did want to sell to women, you could consider creating a new version of the product.

A good way of working out which target markets are likely to buy your products is to look into the analytics on your social media profiles and your website. You can see which searches people are making in relation to your products. By doing that, you’ll often notice where there are gaps in your offerings that you can then fill. When you’re choosing a new market to break into, always ensure that it makes logical sense and those customers will actually have a use for your product.

Understand Their Mindset

When you’re trying to reach a different type of person, you need to understand their mindset and what they respond well to. The same techniques that you use to appeal to the older generation aren’t going to work with millennials. You need to spend some time researching that market and looking at what other successful companies are doing. That doesn’t mean simply imitating the marketing strategies of others, it means looking at the ways in which they relate to their customers on their level.

Follow these 3 steps and you’ll be able to tap into a new market and continue expanding your company.