Tuesday, July 14, 2009

Marketing Tip: Know Your Target Audience

I'm passing on this free marketing tip after attending a conference on doing business in India. Know your target audience and get involved with them.

The keynote speaker at the conference, sponsored in part by Quanta Consulting, Southern California Edison and the Port of Los Angeles, was Ed Fuller of Marriot International. He spoke about the travel industry and the growth of the middle class presenting opportunities for Marriot in India. But he also spoke about taking time with people to know them on their terms and earn the right to do business with them.

For companies to succeed in business with India, they must understand the country, the background, history and driving forces. India is also made up of separate regions that are totally different.

"We spent time working in each market and developing relationships in each market," Fuller remarked.

He said building relationships takes time.

"A relationship come with time and patience," he said. "After 20 dinners and visiting homes a close relationship may still not exist."

Yet business results come from relationships that develop.

This means it's important to take time to build relationships and have a long term view of the marketing effort and sales effort.

Many companies want the sales --- NOW!
Consultants who market their services want sales --- NOW!
So many businesses look to today for their business success -- and aren't patient enough to understand the value of building for the long term.

Even if your company is domestic only, take to heart the need to build long-term relationships for business success and future sales. Doing business with people who are trusted is a universal marketing truth.

Know your target audience, be patient in developing the relationship and then position your product or service to meet their needs.

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