Thursday, September 24, 2015

Reaching new markets

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     Markets are always changing. Some change slowly over time. Others make big leaps into new realities almost overnight.

     Social media has caused new markets to appear much more quickly than was previously the case. Once it took months of print advertising to reach people. Today, reaching out can be achieved very quickly, efficiently, cheaply.

     Facebook, for example, has opened up vast new markets for small business. Snap a picture, post it on Facebook, and reach new markets for products and services you offer. All within minutes. 

     Example: Irene used to treat only humans using Reiki and massage. She saw a market that was under-served--treating pets. She went through the certification process to be able to treat her human clients as well as their pets. She began posting pictures on Facebook showing her treating dogs. The pictures were passed around among friends, and today her appointment book is filled with new clients--and their dogs.

     Example: For years, Pepe has been making his living tuning pianos. His clients were organizations, small churches, private individuals, and an occasional concert hall. He spotted a market among younger people who wanted to learn keyboarding. He decided to offer private lessons, and he posted pictures on various social media. It worked so well, Pepe now has many more clients--mostly beginners. He still tunes pianos, but it is a minor part of his business.

     Example: Computer expert Chuck expanded his business by offering new services. He already helped businesses install their computing systems, network them, and keep them running efficiently. What he added was instruction sessions in how to use social media. His extra niche market came in the realization that people in small business do not understand social media, how Facebook, Instagram, and Twitter could help them expand their own businesses. His new instruction sessions are popular, people pay to attend, and it has attracted new clients to his operation.

     Example: Doctor Theodore spotted a new market that changed his life. In the face of all the new health care regulations and paperwork, he closed his private general practice office. Today, he only makes house calls. (What a novel idea!) His office is in the trunk of his car, and he concentrates on elderly patients he sees in their homes. Referrals keep him busier than he was before. 

     Markets change. Times change. The ways to reach markets change. Everything is moving faster these days. Social media is the future.         

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