Market penetration is a strategy companies use to earn customers in a market that already exists.
An example would be how Sony penetrated the home gaming system by taking market share away from Nintendo in the mid-1990s.
Market penetration happens in every market at some point. There are always new products and new strategies companies can employ to penetrate a market and earn profit.
Today, many companies have the opportunity to penetrate markets with a blog.
Here is how…
People Need Content
Everyday, people search online for information. They also ask friends and other people they trust for information. Search engines and social media sites have become the methods people use to get information.
But the sources of the information are the people that actually produce the information or the content.
Companies have an opportunity to provide the content and information people need. This is one way business blogging can allow a company to penetrate an existing market.
The Sales Lion
Marcus Sheridan needed a way to grow his pool business. He turned to content. By creating a blog that provided answers to questions his target customers had (and searched for online) he was able to penetrate the pool market and win over customers from the competition.
Today, Marcus does much more than sell pools and in every venture he’s done he’s been blogging as a way to build community. He’s one of the examples of how a business blog can allow your company to penetrate an existing market.
Penetrating a market is about identifying a need that isn’t being filled by the businesses currently in that market. Companies that have found success with a business blog have been able to fill the information void left by companies that choose not to blog or provide content to target customers.
If you feel there is an information void in your market then you have the opportunity to use a business blog to penetrate the market.
The first step is understanding the need. The next is identifying the questions your customer has about the industry, the product and the problem.
You likely work with customers face-to-face or over the phone. Those customers, when they first come to you, probably have questions or stories about their struggles. It’s why they’re coming to you for advice.
The answers you provide are the basis for your first evergreen-type content.
If your customers are asking you in person for answers you can be they’re looking online with search engines and on social media sites for answers as well. The opportunity for you is to create content for those people to find online.
Blog posts are great sources of content for search engines. People like blog posts and guides and landing pages that provide valuable answers. That’s why search engines put this content at the top of results.
This content is also highly shared on social media. When people find something that answers a question and is helpful they share it with others. They want to pass on the help.
By blogging you are the source of information that gets the attention of your target customer.
Can you penetrate a market with a business blog?
Start by answering the questions your target customer has. It’s simple in strategy, but it takes work to create something valuable.