Dallas Business Consultant Elijah ClarkDallas Business Consultant Elijah Clark

Knowing your market needs and trends

Market Needs

The market needs help to compare your business and its product or service with the competition in regards to customer experience. Allowing your business to strategically cater to the customers’ market needs. From the customers’ perspective, you need to have answered, what problem does your business solve? What does your business offer that the customer can’t get anywhere else?

Market Trends

It is important to be able to recognize when a change can or will affect your business. Knowing the needs of the market and understanding trends will help you always be aware of industry adjustments.

Your product or service needs to help change the way customers are solving the problem that your product or service addresses.

Trends to think about include:

  • Demographic
  • Political/regulatory
  • Economic
  • Socio-cultural
  • Technological

Knowing your target market

Finding Your Customer

Understanding your target market can help you identify the wants and needs of each of your target customer groups. Knowing your target market will help in examining the types of potential customers, the primary market, and which other markets are worth pursuing.

Evaluate the below questions and build yourself a solid foundation for the future of your business.

  • What is/are the target market(s)?
  • What are the current needs of your target market?
  • What changes in the target market are anticipated?

Once answered, add these answers to your marketing strategy and use them as a resource for knowing how to speak directly to the customers.

Why you should be blogging

What is a blog?

A blog or weblog covers a mixture of what is happening in the daily life of an organization or its members, and what is happening on the Internet and in the industry. A blogging strategy can be used to help determine how to engage with online users and generate potential customers and web traffic.

Building web traffic is simple, and it starts with a professional blog design that will increase your traffic and your profits. When designing your blog, be sure to create it so that it increases branding and reader awareness.

Benefits of blogging:

  • Google loves it! Blogs are great for increasing website indexed pages, and Google places value on websites with a high volume of indexed pages.
  • Customers can remain updated with the current status of your business
    Makes you and your brand seem professional and knowledgeable.

Know your competitors

A Competitor Comparison

Completing a competitor comparison will help you better understand what you do well versus what your competition does well, what they do better, and what is unique and different about their product/service. The comparison can help showcase what makes your business stand out from its competition.

Being in business means competing to get a customer to choose one product or service over the other. By understanding your competition and analyzing what they do well and poorly, it may help you create a plan of action to capitalize on your competitors’ weaknesses and learn from their strengths.

The reality is that you can save time and money by evaluating how your competition spends their time and money.