Once you have a clearer strategy on how to expand your market reach, you need to consider channels that will enable your strategy. The platforms you use to reach your target market today might not be the right channels for future customers.
Here are just some of the options available:
Email marketing is a great tool for nurturing customers and new leads. Whenever you consider expanding your market reach, email can be a highly effective tool that doesn’t severely impact your budget.
In order to build up your email list, you can:
- Host events with sign-ups and contact data collection
- Optimize your website to encourage opt-ins
- Get active on blogs and forums
- Run competitions to get people to subscribe
Social Media Marketing
Social media is the perfect platform for expanding your reach. Every social media user has their own personal network that they can connect to your brand. With a great social media presence you make it more likely for your followers to share your brand or product with their friends and family.
The main challenge is transforming your existing followers into ambassadors for your brand. Consider doing the following to encourage participation and build loyalty:
- Run social media contests where followers are asked to “tag” their friends
- Leverage influencer marketing campaigns
- Use paid advertising to target specific audiences
- Host product giveaways
Even if the online world is a major aspect of socializing, networking in-person is still powerful for building connections. Take part in industry events and community experiences that support the values of your brand. This will make your brand appear more authentic and transparent.
You can also expand your network by establishing an online community. Join groups on LinkedIn that are relevant to your industry or see if you can find any forums or niche websites that you can get involved with.
When you aim to expand your market reach it can feel as though you are launching your business again. After all, you want to demonstrate your product to a new selection of potential customers. With the new expansion, you may not have an established presence in the market place.
Affiliate marketing can help get your foot in the door. You work alongside another website or blogger to give a shout-out to your product. You can also take a slightly different approach to affiliate marketing by writing your own guest posts for authority sites, instead of asking someone to post for you.
Search Engine Optimization
Expanding your market reach also means that you need to adjust your SEO strategy to appeal to a broader target audience. You may have to add new keywords to your SEO strategy so that you can start ranking up for different things in the search engine results pages.
When you’re looking for ways to enhance your SEO with a new target market, evaluate your current image and how it changes following the expansion. For instance, if you have previously catered only to women, then if you add men and children options, you may want to change several elements for your brand like logo, colours or message.