Targeting Profitable Markets

Article of the Month:

Targeting Profitable Markets

 

Are your current market segments unprofitable? Is there not enough growth potential? Or are you just ineffective in your marketing and sales activities? Before launching into new targeted markets, take time to do marketing planning and analysis, which can save you time and money, while making your marketing more productive.

Targeted marketing identifies a group (segment) of your potential clients who are more likely to buy your services/products.  Once these key groups are defined, marketing campaigns can be developed to specifically address the needs of your targeted market and drive prospects to select your firm.  In this article by Kevin W. Brown, M.B.A (as published in the “Orange County Register,” reprinted with permission), the author recommends five steps for your firm’s effective targeted marketing campaign.