One of the most frequently asked questions a business asks itself is ‘How do I increase the market share of my business?’. I have seen enough businesses in action in different types of economies to know that the problem is a common one. In developed economies where it is easy to set up a business, increasing market share is always difficult because of increased competition. Simply put, no matter what idea you have or business model you put in place there is always someone else competing with you for customers.
In developing economies where the entry threshold for setting up a business is much higher and the level of competition lower you face the problem of unsophisticated consumers whose purchasing decisions are guided by cultural or, even, purely personal reasons. In both cases the issue, however, is the same: how do you communicate with your prospective customer base and how do you leverage existing customers to get new ones?
Well, as it happens, the approach is very similar in every case. Running a business is not rocket science. There is a logic to the development of every business which leads to a process that can be broken down in distinct steps which can then be applied to help your business increase its share of the pie.
In this Online Marketing Help podcast we look at just how you can develop your business so that it begins to increase its share of the market and gets you more customers and more sales. Best-selling SEO and Social Media Marketing author, David Amerland, explains.
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