opportunity 11 of 150 A key to effective marketing, and certainly to cost effective strategic planning in marketing, is knowing exactly who to focus resources on – or in other words – who the target audiences are. Most businesses have a number of target audiences – each with its own challenges and opportunities. I am […]

opportunity 11 of 150 A key to effective marketing, and certainly to cost effective strategic planning in marketing, is knowing exactly who to focus resources on – or in other words – who the target audiences are. Most businesses have a number of target audiences – each with its own challenges and opportunities. I am frequently amazed at the focus so many businesses have on attracting new customers and, indeed, how many seem to think that the answer to all of their prayers is more, or new, customers. While every business wants new customers, and can benefit from the additional custom, their priority should always be – ‘existing customers’. Existing customers offer so many opportunities including: Repeat business and referrals A prime market for new products So many business people talk about the importance of repeat business and word of mouth, but very few have well-crafted strategies in place to…