Legacy Ridge Ventures - Our Business Basics Blog

Creating value propositions for the specific market segment that your product or service addresses.

In target marketing blog post we talked about the importance of understanding the market segments that use/purchase your products and or services. Knowing their characteristics allows you to create targeted messages or value propositions and or gives you the knowledge to expand your product or services and create new ones that would appeal to their unmet needs (or pain). Vital to this targeting each specific market is defining what you offer in a way that appeals to this market’s needs.

Why is it important to spend time looking into who purchases your products and services & understand how many ‘like-minded’ groups you cater to & who your target markets are?

Understanding the path to Brand Awareness, which translates into Business Growth

There are 4 stages brand adoption and generating sustainable sales for your business. If you focus on assessing these stages and trying to answer the questions below, you will help focus your business around growth & repeat sales.

Successful small businesses follow a few important steps to align their company and ultimately set themselves up for achieving goals. Effective long-term planning can be one of the most difficult things for a business to accomplish. If a company is able to find a “sweet spot” in their market and develop a business growth plan accordingly, the future tends to be a little more certain and will help you stay ahead of your competition.

Not long ago, Social Media was new and different; it was for the ‘early adopters’ but now most main streamers are on board. Social Media is another great avenue to explore to grow your customer base & engage with potential customers.

So how do you know which platform to start in? Well, you first have to ask yourself a few questions.

The most important thing for most small to medium size businesses in terms of advertising and marketing is their website presence. Yet most don’t either have the time, energy or skillset to either create, update or maintain it.  Nor do they have the budget to buy the service of pricey online firms.

Are you measuring your website activity? How many people are you signing up? How many are contacting you through your online form? Purchasing from you?

What is your goal, where are you at & where do you want to be?

Here are a few tips to get you moving towards a higher conversion rate on your website...

Taking your website from good to great.

• Good content: You truly understand what your potential customers needs are & what they might require from you to make a buying decision. Put call to action; engagement content or most important content front & center. Make the buying process easy for them: having the answers they need to make a decision or make it easy for them to contact you.

In my years helping smaller businesses I find that one of the easiest ways to an increase in business is helping a customer through the decision making process; making their path to purchase easy for them. 

I had just recently put a proposal together for a Toronto Start-Up company looking to get their most out of lead generation with few resources.

We had talked about creating a marketing automation platform.  They had a lot of lead but not enough resources to personally follow up & nurture the leads.