Capturing new geographic markets is one of the best ways to bring in more business, and even new challenges for you and your team! But how do you increase business outside your comfort area? Read on to find out.
How to increase sales by expanding your geographic market area
Many small businesses limit their marketing and sales efforts to the immediate area surrounding the central location of their business, thus capping their growth and earning potential.
Case in point: a distributor of playground equipment discovered that none of his competitors marketed in several of the suburbs surrounding his city—probably because no distributor was located within those communities. He found the additional cost to cover the larger market was minimal and well worth the investment, more than doubling potential sales.
The lesson? Don’t rule out a market beyond your current borders without doing some investigation first.