The market for your business can be split into 2 categories – The market you know and the market you do not know. Market you know can further be split into market you serve and market you know, but do not serve, let us dwell further on this
- Market you know and Serve – As a business owner you know your market and you serve a part of this market. You may use various methods to serve them – direct, channel partners, OEM, job work etc.
- Market you know and Do Not Serve – This is that part of the market which is served by your competition today, the point to note is that you are aware of this market and for some reason you do not serve, may be you are not cost effective, you do not have channel partners, you may not have the working capital and other reasons why you do not have the reach
- Market you DO NOT KNOW – The 3rd category is the largest. This is the market you are not aware exists. I wish to bring your attention to the fact that you are putting all your energy on a very small portion of the market. So what is the way out? Read further
OPEN THE FLOOD GATES TO THE UNKNOWN –
Read further only if you think there is a huge market out there that you do not even know exists.
A logical question is – you can do something about something you know of, how do you expect to do something when you are not even aware.
Very true, read further –
STOP SELL TO
START SELL THROUGH
What do I mean by SELL TO –
- Communicate to the customer
- Give an offer
- Customer accepts the offer
- The sale is done
SELL THROUGH has other dynamics – The prerequisites are –
- Trust – Your community has to trust enough to talk about your business to others
- Relationship – Build a bond with the community so that there is an experience of oneness
- Integrity – This is the bedrock of any business
- Do what you say
- Say what you do
- DO what is expected of you
As you start marketing the technology of SELL THROUGH you will realize that markets which were hitherto invisible to you start unfolding.