So you have a great product or service and customers in your area love you and your business. Now you might be thinking it is the right time to expand your business into new markets, but aren’t sure of the best way to do this. Here are 5 tips for how business can expand into new areas or new markets:
1. Identify Markets With The Most Opportunity
To find the best markets to grow your business first assess the demand in the market by looking at the Search volume for your product in each market and the competition by analysing the competitors in each market. To find the search volume create an Adwords account and use the Keyword Planner to find the search volume for your product in this area. To do this select a number of keywords that describe your product and test the various locations that you are interested in targeting. Next create a list of competitors for each location and determine which locations provide the best opportunity for expansion.
2. Join Local Communities
Look for communities specific to the local area that you can participate in. All Cities have their own communities where local businesses can participate by creating a listing, contributing content or publishing offers for customers. Participating in these communities is a great way to get noticed by customers in this area.
3. Social Media Advertising
Social media advertising is a great way to reach people in a selected location. Facebook, Twitter or LinkedIn advertising allows businesses to target people by their physical location. On each platform businesses can deliver messages to raise awareness of their brand, deliver sales messages or build a following on social media for people from this area.
4. Adwords For People In The Area
Another way to target users by their location is through Google Adwords. Adwords enables businesses to provide adverts in Google’s search results for searches being performed by potential customers. Businesses can use Adwords when expanding their service to a new location by showing ads to users in this location when they are performing searches that relate to the service or product the business supplies.
5. Provide Information On Areas Served On Your Website
When expanding into a new area make sure this information is reflected on the company website. This can be done by adding the location to the areas served, publishing a blog or news article to announce your service to this area or providing a dedicated page about your services in this area.