Finding Under Served Markets
Is there a segment of potential customers who are consistently under served? This would be a group of potential customers whose needs are not currently being met by their current supplier.
This group could become a profit center, but you will have to work hard to understand their needs and wants. If you are successful, they will become great customers and raving fans.
Three steps:
- Create a list of identifiable characteristics, traits and needs. Or they could be identified by the type of product or service that they buy.
- Look at your customer and prospect list. Who fits that profile?
- Contact them and engage in a conversation. The goal is to try and uncover an unfulfilled need or want that a current supplier is unable or unwilling to meet.