How to Expand Your Target Markets
Are your products or services geared towards only one target market? You can increase sales and profits by increasing your target markets. Below are some creative ways to increase your target markets by using your existing products and services you're selling right now.
REDESIGN
You can increase your target markets by redesigning your products and services. For example: you're selling a book called "Internet Marketing Tips For Accountants" You could rewrite part of your book and call it "Internet Marketing Tips For Lawyers". You've now increased your target markets by redesigning your book.
ADD-ON
You can increase your target markets by adding on other product or service with your main one. For example: if you're selling a football magazine you could add a free football when someone buys a subscription. You're now targeting people who want the football magazine and those that want to play football out in the yard. Sometimes they buy stuff just to get the freebies.
TEAM-UP
You can increase your target markets by doing a cross promotion with a similar non-competeing businesses. For example: your business sells tennis rackets and you find another business to cross promote with that sells tennis balls. You could combine your racket and their balls in one package. You are now targeting people that need tennis rackets and balls.
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