How to Target Evolving Niche Markets
The pandemic has forced so many industries to shift their strategies, and many will never go back to the old way of doing business. Consider these strategies for pitching to shifting markets.
The coronavirus pandemic has forced huge technological shifts and philosophical pivots in just about every industry out there. And even though vaccines are slowly rolling out and there are signs of brighter days to come, it’s possible that some markets have been permanently changed. For instance, the reign of public gyms and boutique fitness centers could be over, as some 59% of Americans say they don’t plan to renew their membership after the COVID-19 crisis is over, according to a study by TD Ameritrade. And the traditional car-buying experience is beginning to be eclipsed by a more web-driven sales journey.
Aggressively prospect and build relationships to thrive in 2021.
Hustle with purpose. If anything, that sums up the approach promo sales professionals must take to generate success in 2021. From digging into recent sales numbers to uncovering hidden opportunities to stepping up intelligent, focused prospecting, distributors are going to need to put themselves out there with renewed vigor. Trust us – the effort will pay off.
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Forecast Strategically
Dive deep into customer sales reports from the last 12 months with a mind for trend spotting and projecting what each client might spend in 2021. “Going through the annual forecasting exercise, we often spot trends with certain customers or industries, which gives us motivation and something to build a plan around for the new year,” says Joseph Sommer, president of New York City-based distributor Whitestone Branding (asi/359741). He adds: “Because of the rapid change last year, you probably had customers who you never expected