The Best Way To Expand Your Market If you're thinking about growing your business, here's the way to do it smart.

entrepreneur daily

Expand geographically, not demographically. If you do business with medical doctors in one location, it's easier to find doctors in another community than it is to try to sell to dentists in your home territory. Once you've built a rapport within a certain customer community, your reputation will make it easier for you to sell to like customers in other areas.

This type of approach simplifies your marketing and sales efforts. For example, if a doctor in Chicago knows that you've sold your product or service to hundreds of doctors in the tri-state area, chances are he or she will place more trust in you than if you've sold only to dentists in a single city. Selling to the same type of customer increases your chances of capitalizing on word-of-mouth and referrals.

Excerpted from 303 Marketing Tips Guaranteed to Boost Your Business

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

Editor's Pick

Business News

'A Lobstrosity': Social Media Is Losing It Over Martha Stewart's Latest Meal Posting

The 82-year-old caused quite a stir on Instagram this week.

Side Hustle

This Gen Zer's Stylish Side Hustle Earns About $20,000 a Month and Paid Off His Parents' $200,000 Debt: 'I Enjoy the Hands-Off Nature'

Ray Cao went from working as a barista for $8 an hour to being a successful seller on online marketplace StockX.

Business News

Tennessee Just Passed a New Law to Protect Musicians From a Growing AI Threat — And Even Taylor Swift Has Been a Victim

Tennessee is the first U.S. state to pass legislation protecting music industry professionals.

Leadership

5 Trailblazing Black Women Entrepreneurs Share How They're Breaking Barriers — And How You Can Too

52,374. That's how many Black women-owned businesses there were in the U.S. in 2020. Although this number might seem insignificant, their impact can be felt. According to J.P. Morgan, Black women are the fastest-growing group of entrepreneurs, and there's no end in sight.

Business News

Make $177,566 With No Experience in 3 Months: A Popular Online 'Side Hustle' Course Is Under Investigation After Customers Complain About Its Deceptive Claims

"All you need is a phone, a laptop, wi-fi and one to three hours a day," one affiliate marketer said in a video posted to social media.

Business News

This Retailer Is the Latest to Remove a Major Feature From Its Stores Due to Rising Theft

Five Below CEO Joel Anderson addressed the company's plans to combat theft in an earnings call earlier this week.