How to Find New Markets for your Company
Is your business suffering from a lull period? Do you long for a fully-booked schedule?
If so, then maybe it’s time to rethink some of your strategies. The key lies in bringing in more business for your moving company through new markets. Don’t know how to do it?
- Study Your Current Market
Before your start broadening your sights, you should focus on what you already have. Study your client history and find out what type of people usually avail of your services. Analyze their age, family background, location, new destination, type of personality, current profession and so on. Once you’ve sorted this out, you can start planning if you want more of these types of people, of if you want to expand to other market sectors.
- Create Alliances
One of the best and most effective ways to widen your market is by creating business alliances. Moving companies can do this by creating accounts with local real estate agencies. Real estate agencies are directly in contact with the people you want to get as clients- people who are moving to a new house. By hooking up with a local realtor, you can have them recommend you or create a special rates package. Talk out your arrangements with the company but one thing’s for sure, they are the people you want to be friends with.
- Referral Programs
Referral programs will encourage people to recommend your company. To do this, you will need to reward the people who will bring in/refer clients for you. Small monetary rewards are just a small investment if you think about the increased revenue and stream of customers.
- Diversify and Offer More
One way to open up new markets for your company is to diversify what you offer. For example if you’re only involved in truck rentals, why don’t you start offering full service packages as well? You can also offer individual services (as opposed to packages) like: packing, furniture disassembly and assembly, and so on.
- Find Regulars
Try to get government contracts because getting the Federal Government as a client is a great way to create a steady stream of projects. You can also do the same for companies that are known for offering relocation packages to their employees (IT companies are famous for this). You can also contact nursing homes or retirements homes that offer full relocation assistance to their new residents. The key is to find a project (and clients) who can provide you with valuable repeat business.
- Have an Online Presence
By now, we’re assuming that you already have a website for your company. Otherwise then you’re already decades behind. You should also leverage on social media to get their presence known. Facebook, Instagram and Twitter are some of the platforms that more and more companies are using these days. You can also create a blog for your business where you can put valuable moving advice. Include expert tips for your clients or share valuable guidelines. Have you ever heard of SEO or Search Engine Optimization? It’s basically getting your website high up on the rankings of Google, Yahoo, or Bing. The key is to drive more people to your site and motivating them to contact you.
Advertising is one of the tried and tested ways of getting more customers and accessing new markets. What about investing in the production of a television ad? It could get your name out there and get you into the minds and consciousness of people in your area.
There are so many aspects to marketing and one of this is creating a strong brand identity. You can do this simply by labelling your trucks and employee uniforms, or putting up a huge signage near your office.
- Open a New Location
If you have the resources, then you may also consider opening up a new office at another location. Pick a town with a booming economy, somewhere where growth and development are both high. You can also choose cities or states where there are a lot of universities or colleges. The population is bound to be more mobile and active there.
- Try Direct Marketing
Do a door-to-door marketing campaign and introduce your company your target market. Just make sure that aside from having good material, you also have well-trained people who can talk you up to potential clients.
In order to open up to new markets, you have to invest a lot of time and effort (oftentimes, cash too). But in the end, if you do things right, then your company will reap the rewards soon enough.