How To Increase The Market Share Of Your Business

In business, profit goes to the company with a sizable chunk of the market. In most cases, this is usually the companies in the top 3 position; first, second and third. This position is not determined by a regulatory body, but by their market size – the number of customers these business serve on a consistent basis. Market share is a numbers game. You are only as profitable as the number of client/customers patronizing your business.

I have often said this, if your business is not a force to reckon with in the particular industry or niche you belong, you are as good as dead. When your industry or niche is being mentioned, which companies come up as reference points? Is your company among them? Is your company a threat to your industry or niche? If your answer to this question is NO, then there’s much work to be done. Let’s get down to business!

What is a market share?
In very simple terms, market share is the number of loyal customers your business or company has been able to retain over a long period of time.

The key word in this definition is LOYAL.

Without this word [loyal], you can’t say you’ve got any market share. After all, a share of anything is that portion which you can confidently call your own by virtue of title. Meaning, you don’t own a share of something without an evidence or proof of ownership. In the business world, your proof of market share ownership is the number of repeat [loyal] customers patronizing your business per time. When it comes to market share, first time customers are irrelevant.

The criteria is not how many people who bought from you, but rather how many people regularly buy from you. The focus is on retention and not attraction alone. It’s about bringing them and keeping them. In other words, market share is about creating fans, followers, believers or addicts of your company, business, product or service. These are not just people who buy from you, these are people have bought into you. Meaning, they have been converted from mere customers to disciples of all that your business represent. Your proof of ownership is their continuous patronage [loyalty].

If you have ever seen a football fan of a particular club, say Chelsea, Arsenal or Manchester, you’ll better understand this concept of market share. These fans don’t just like football, their love for football has transcended from the general game of football to a particular kind of football -the games played by their favorite club. This level of interest is not accidental, it is not coerced, it’s a choice. Market share is all about preference; choosing to give your money repeatedly to a particular company or business over a long period of time based on certain factors that appeal to you personally.

Market share is intentional, people choose you instead of others because there’s something SIGNIFICANT [unique, unusual, extra-ordinary, different, special] about you. Market share is people identifying with your business, company, product, or services. It doesn’t come by chance; it can only be intentionally created.

Creating Your Own Share of the Market
You are not going to have them lining up behind your business as followers, so don’t bother waiting for them. Your best bet is to create followers by becoming a leader yourself. Here is how to achieve this;

1. Differentiate your business
The first step to creating your own share of the market by becoming a leader people want to follow is to differentiate your business. Differentiating your business means being able to clearly define the specific value creation processes of your business and deciding the particular area you want to specialize on.

For example, all automobile companies manufacture cars, but not all specialize in particular areas. Volvo for instance focuses on safety by ensuring their cares are made up of strong body parts capable of protecting the occupants in the event of accidents. The impact of limiting a Volvo car will not be as that of limiting a posh car.

A posh on the other hand, runs faster than a Volvo as the manufactures focuses on speed. Two car companies; both in the same automobile industry, but doing different businesses. One is in the business of manufacturing safe cars, so they invest more on body parts. The other is in the business of manufacturing fast cars, so they invest more on high velocity engines.

This simple distinction is how leadership is being created in the market. This is how loyalty is formed as different people prefer different things per time. As result, safety conscious people choose Volvo cars instead of posh cars and speed lovers, prefer posh instead of Volvo. At the same time, some customers prefer both and so they buy from both manufacturers.

It is very erroneous to think all companies in the same industry or niche do the same business. As I’ve always emphasized, no two businesses are the same even though they operate in the same industries, just as no two siblings are the same even though they are products of the same parent.

So, your first task in creating your own share of the market is to carve out your own share of the market. As I pointed out in the football analogy earlier, there is a general love for the game, but fans of a particular club don’t just love football, they love a particular kind of football, the kind played by their club.

In essence that, all clubs play the general game of football but all clubs don’t play the same way. In the same manner, all automobile manufacturers make cars, but they don’t make cars the same way. The distinction lies in the value creation process. In other words, “how” you create value is what matters and not “what” the market generally perceive as value.

Therefore, creating your own share of your market begins by creating your own unique kind of value that is different from the general kind of value currently obtainable in the market. This simple distinction is what differentiating your business is all about. Its realizing that you all may be in the same industry or niche but don’t do business the same way. You’ll find this distinction by breaking down the value creation process and deciding on which area to specialize on base on your core competencies and available resources.

2. Know your target customers
Every leader attracts their own kind of followers. That you are a leader doesn’t mean everyone is going to line up behind you, certainly not. So, it is your task as the leader to seek out your own kind of followers.

How is this done?

By narrowing your search. This is what the term target customers mean. You have to be able to clearly describe the profit of your ideal follower as a leader.

How does he/she think? Where does he/she go to? Where does he/she live? How does he/she behave? What challenges or problems does he/she face? What does he/she perceive as value? What are their dreams ambitions, goals, desires, or needs? How do you get across with them? All of these questions are not obvious; they are hidden sometimes unknown to the customers themselves.

This is where market research becomes crucial knowing your customers is about getting up close and personal with them. You have to be prepared put yourself in their shoes. You have to be prepared to be patient, attentive and compassionate. Their fear must become your fear, their problems, your problem, their needs, your needs you must become a servant in order to lead them. You must be will to put yourself second and put them first.

Knowing your customers is about understanding the human nature. You have to familiarize yourself work stuffs, like motivation [what moves people to act] psychology [why do people do like they do], perception [how people receive and spread information and other areas of human natures].

I know all these can be intimidating, but believe me when I say this, they are all common sense. The best way to go about them is to become like the target customers. Put yourself in their shoes, think like they do, go to the places they go, do the things they do, value what they value
To attract them you have to be one of them, period.

3. Promote your business
You cannot attract the right kind of followers you want for your business if they don’t know about your existence.

After all is said and done, it is the business, company, product or service that is known to the target customers that will gain a large market share. This is a very vital element of the steps needed to increase your business market share. It’s just common sense; people buy from those they know. So here is the question, how many people know about your business, company, product or service?

Like I said earlier, market share is a numbers game so it calls for a lot of marketing efforts from you. You have to constantly put your business, company, product or services in the public’s eye. If you operate on a local level you have to think going to the state level, from the state to the national level, from national to global.

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Best Credit Repair Services – How Can They Help You Fix Your Credit Reports?

As long as you are careful with your choice, it’s in your best interest to choose a reliable credit repair service. A good company can help you build your credit back up and increase your score though a variety of ways, such as negotiating with lenders to change or remove negative reporting, take advantage of loopholes in reporting regulations, help you manage your accounts, and so forth. If you are a victim of identity theft or fraud, you’ll definitely want the best credit repair company possible to help you fix all of the damage caused to your report.

There could be a number of errors on your report that you could potentially overlook. Even a minor error can have a negative impact, such as an incorrectly entered date or a misspelling. It’s good to carefully look over your own report first and then work with a credit repair company that will help you review it and offer a solution.

By law, no reputable credit repair firm will accept payment from you until after their services are rendered. Also, beware of any firm that makes specific guarantees, such as helping you raise your score by so many points in a short period of time. This type of “guarantee” is purely a scam.

The Work Done By The Best Credit Repair Services

Since there are three primary credit bureaus: Experian, Equifax, and TransUnion, you need to obtain a copy of your report from all three, since different lenders report to different bureaus. There is also the matter of the recent Equifax hack. If you haven’t yet done so, check and see any of your personal information was compromised. If it was, take an extra look at the Equifax report to see if there is anything on there that shouldn’t be, as it could signal identity fraud.

The best credit repair firm will be knowledgeable about the law, and will use any means legally necessary to help you repair or rebuild your credit. You’ll want experts who have the law on their side to help you get things straight with your reports. Even if you don’t actually see anything wrong on your reports, you never know if you might be overlooking something. This is why it’s good to have expert help.

Even if 100% of the information on your reports – including the negative items – are accurate, it’s still helpful to have professionals to help you get back on the right track again. The best credit repair companies, such as Lexington Law, are definitely worth contacting. They will even give you a free consultation.

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Top Custom Web Application Development Company

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Country: France

6) Proge-Software
Country: Italy

7) Capgemini Group
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Ph: 91-79-26400620 Country:India

9) Otsuka
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Professional Web Application Development Company is very approving for configurations needful exact solutions for different needs, but care need be taken while choosing the ASP.NET development partner for a project. Clients should do methodical research and enquiries before offering their project to any web application development company. Having said all that,.NET is one of the most powerful and flexible framework among all the programming language. It is the future of web applications development and Internet. Many companies like www.axtongroup.com and others provide scalable business solutions using the ASP.Net programming and C#.

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Professional ASP.Net Developers and .Net Programmers

Professional ASP.Net Developers and.Net Programmers this impressive and unbelievable framework supports you to update constant pages manually so is the reason that now days lots of web-pages and websites are created within this incredible technology. ASP.Net developments Best ASP.Net Developers and.Net Programmers is approving for programming service and features. Now days lots of small and big as initiative level organization hire Top ASP.Net Developers and.Net Programmers for the development and programming of the websites. This impressive technology which helps in designing and development of websites, web applications and other web services. There are lots of benefits of the amazing web development technology as are below:

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As this incredible ASP.Net development technology has best skill to provide you the best platform on the web so one has to get the best Hire Professional ASP.Net Developers and.Net Programmers web developers with him so that he can be skilled to get the required platform. Top ASP.Net Developers and.Net Programmers the price of the development across well-organized and skilled web developers very less and they provides the maximum related development solution with the latest and developed technology and tool. Thus for getting the final development platform you requirement to get to the best and dependable development firm to get hired the Best ASP.Net Developers and.Net Programmers team to get improved in preferred behavior. As the ASP.NET development service is supreme and you will be synchronized with the ASP expertise to get the preferred development platform at best rate.

Top Ten ASP.Net Development company

1) AxtonGroup Inc.
Ph: 1-201-884-7338 Country: USA

2) Fujisoft Inc
Country: Japan

3) Comparex
Ph:49 341 2568 000 Country: Germany

4) Softline Group
Ph:7(495) 232-0023 Country: Russia

5) Sogeti
Country: France

6) Proge-Software
Country:Italy

7) Capgemini Group
Country: France

8) Addisinfo Tech
Ph:91-79-26400620 Country: India

9) Otsuka
Country: Japan

10) Senetic
Ph:48 (32) 420 92 00 Country: Poland

Having said all that,.NET is one of the most powerful and flexible framework among all the programming language. It is the future of web applications development and Internet. Many companies like www.axtongroup.com and others provide scalable business solutions using the ASP.Net programming and C#. Their ASP.net programmers have more than 7 years of experience in ASP.net web programming and ASP.Net web applications. Many of their ASP.Net developers are Microsoft certified. Because of their ASP.Net programmers expertise and skills they are one of the most successful ASP.Net development company in US. So Call Us right now at 201-884-7338 for your.net web desisting, ASP.NET web applications,.net application development,.Net eCommerce website, any custom ASP.net

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Need Stone Restoration? Trust Professionals

Do you have natural stone floors at your home? If it is then stone restoration becomes a lot essential. A leading stone restoration and maintenance service provider can help you to clean and restore the natural shine and glow of all natural stone surfaces.

A professional stone restoration company includes professionals or experts who can offer a range of stone restoration services, consultation, and stone care products to help their consumers. It is important to preserve and maintain the natural floors and to preserve your valuable investment in the natural stone.

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A certified stone restoration professional can take good care of different natural stones including floors, showers, limestone, marble, slate, granite etc. Professionals will help optimize their systems in order to maximize your investment. However it would be essential to choose a company which works with integrity and honesty to help your business with continued growth and success.

Stone restoration companies constantly strive to offer a more superior service at a fairer price. The team players believe in treating them with respect and courtesy. The safety and health of people prove to be paramount and hence are committed to ensure a healthy and safe work ambiance.

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