Wednesday, July 7, 2010

Being Innovative in A Tough Economy for Industry

The better we define our targets in the manufacturing industry, the more innovative we will become and hopefully, more successful in achieving the desired outcome. Well, that is a lot of jargon in one sentence so lets define that a little more specifically.

To reach markets globally we need to be innovative in who we target. It is necessary to do some research to find out who are markets are. So, how do we start that whole process? There are several ways to search your target market.

First, search the website for sites that will list your company, industry specific. It is interesting to note that Thomas.net and Squidoo.com are very popular and can save us a lot of time pasting our URL in places they will automatically reach. Squidoo.com will provide many applications to allow a "lens" of your products and business which helps company visibility in the marketplace. The use of pictures as well as text will help place your product higher on the visibility scale. Recent studies also find that most people have a very low attention span. Information on products needs to be easy to find and hold the interest for at least 10-seconds. In this way, we better define who we want our communications to resonate with and allows us the opportunity to craft our sales approach using presentations, websites, whitepaper, brochures, print ads, etc.

Finally, it is important to recognize what is critical for the business that is your target market. In that way, you can determine how to meet these needs in cost effective ways that position you to be that much better than your competition in the marketplace. This strategy will also give youa foundation to build on and effectively coordinate and formulate your marketing and sales strategies.

In the end, the better your job at targeting your market, the more your sales and promotional efforts will ultimately resonate. So, hit your mark solidly by effectively targeting your business products.