Route to Market strategy

 

Route to market

My business is aiming to sell to other firms, my product would be a required product, but it would also have similar competition, my business is aiming to sell a service. My service will a mid-range to major purchase, this is dependant on the project and the service would be primarily be targeting local and regional areas.

Potential routes to market

Social media

A potential route to market for my business would be using social media, this could be through two methods, firstly creating an account, cultivating an active presence online. This would be through following related accounts such as those of business’s within the local area, posting regularly, using the accurate tags and topics to attract relevant attention to the business. This would be relevant to helping reach an audience as, seen in my customer profiles, many people at work within the companies I would want to work with use social media such as Twitter and Instagram, so these would be the platforms I would focus on. the second way I can reach my demographic through using social media, is to pay for targeted ads on the social media sites, which would then use its own algorithm to target relevant customers, based on information I've input. 

However, this could potentially cost quite a lot of investment upfront to cultivate a range of potential clients, while setting up an account and creating an active relevant profile would take some time before it started to attract potential clients.

Community relationships

A second potential route to reach the demographic would be through searching for relevant community meetings or events that could allow our business to connect with potential clients, this could be through searching for trade fairs or potentially looking into whether a Bid or business association is set up within a town as being an active member of this could make those personally business connections with others, who could be potential clients, or recommend the business to others. 

The potential problems with this route to market are that it's reliant on meeting and personally getting along with business owners within the area, their is also limited reach to this method, however this is still a potentially helpful task for my business as we aim to be community focused, so this would still benefit my brand as it creates relationships that are vital to the business values. 

Website

Another potential route to market, is a very common route and is used by mostly every business, the regardless of industry. This route is to create a website, this is an incredibly useful tool to relay to potential clients what my business is all about, the website can be created to showcase the values and mission statement of my business as well as introducing any relevant staff, give indications of how the business runs and what services it provides. Other important additions include relevant, up to date an easily accessible contact information as well as a page dedicated to providing previous work and experience that can be used to show projects the business has worked on. A website can also show the business to be professional, organised and well put together, as it will showcase the consistent branding of the business, through banners, fonts and writing style, which really helps to relay and associate the company with these traits making potential clients more likely to reach out and work with us.

 The biggest issue with using a website is that potential clients need to be guided to the website as search engines for this industry will show an overwhelming amount of competition, and so other methods needs to be used to reach clients and show why we stand out against competitors so that they are attracted to our website first. There are a variety of ways that this can be done, firstly other methods can be used to push clients to the website such as having the link automatically set up within social media bios as well as producing business cards with the website written on them, this could also be done to using QR codes of the website and using these in relevant business settings to create curiosity and interest around the brand. other methods used could be focusing on pushing our website to the top of searches, this can be done through routes such as attaching a blog to the website, and making sure this is regularly updated this helps as having a web page that is constantly updating and adding information, shows up higher on search engines as having update information means it's more likely to be relevant to those searching. pushing searches can also be done through using the right keywords within blog posts and other aspects of the web page so that when these words are included or relevant to a search, they appear higher on searches as the search engine is trying to match the most relevant response to the user’s search.