When Targeting a New Customer Base, Avoid “dabble”
Friday, January 27, 2012, 2:01 AM
To achieve optimal sales results when segmenting and targeting a new customer base, it’s extremely important to make an appropriate level of literal and perceived investment. Many times, businesses operate with a minimalist approach when expanding into new markets. In practice, it’s an approach where you ‘dip your toe into the pool’ to gauge the market temperature. It is manifested through a scarce investment in time, people, or resources. Many companies assign few resources to manage a new targetmarket, to recruit partners, and to find customers. They react to market inquiries and interest.
Business partners and alliances, as well as customers, put more value in a long-term commitment to the market segment. The perception that your company is non-committed will impact results. Say no to the dabble approach.
Partners and customers react in a lackluster way to a perceived lack of market attention, lack of support, or a perceived one-sided partnership. Dabbling is a worst case scenario if your goal is to engender trust and confidence. The most important consequence of dabbling is that customers and partners may reciprocate the lack of interest.
You can find ways to make the investment appear more strategic and the market will react. Plan the attack and invest appropriately for best results. Perception is reality.