Topics that an entrepreneur should focus on and attempt to increase their “market share”
We have discussed marketing tips for startups before. Within the important topics that an entrepreneur should focus on and attempt to increase their “market share”, but how do I increase my market share?
The following are important steps that you can adopt if you see them fitting to your own business:
- Always focus on new trends in the market that can be used in infusing a new service. This can assist in increasing numbers of customers, especially since new technology is opening doors for new opportunities every day.
- In regards to customers inquiries and issues, always be prepared to answer them professionally and fast. You can rely on competitors’ answers for reference, though coming up with you own creative and speedy answers can help you increase customers’ loyalty.
- You can increase customers’ engagement by empowering them in different decision making process and taking their opinion into consideration in different topics. This will increase their engagement and desire to participate with on your pages or events. Example, Thread-less is a company that creates T-Shirts using people’s creative designs and ideas, helping tremendously in their success.
- Once of the biggest success reason is the flexibility of the business owner with both or either of the staffs and customers. This decreases the turnover rate within a business and creates good will with your consumers.
- In the long term, if it is possible you can increase your market share by adding a new customer segment that can fit within your business model.