Reaching Out to Under-Served Markets

Success in business relies on being able to find a service or product void and filling it. Far too many businesses fail because they have entered a crowded marketplace where market share is difficult to chisel away from existing players. However finding a under-served population is often the key to success.

I recently uncovered a tremendous underserved marketplace while doing research on Medicaid. It seems Medicaid recipients are no longer covered for preventative dentistry.

Do not stop reading if you're not a dentist. The theory here applies across business sectors. Also, instead of writing this off as an unprofitable demographic, connect to your creative juices.

New or struggling dentists could easily fill this void in several ways -- methods that extend beyond the field of dentistry. Here are just a couple of ideas:


Donate your services. Giving back to the community is a noble entrepreneurial effort. It may seem counterintuitive to the retailer struggling to stay alive or to the entrepreneur trying to pay their bills. However it is a great way to feel good about yourself while helping the community. You can view it as a networking opportunity for a way to build experience - either provides benefits to your business. A dentist selecting to go to group homes, special education classrooms, or senior centers do not just provide a valuable service to people unable to afford them. They make a lasting impression on managers, employees, and relatives of the patients.

Form a team. Coordinate a team of competitive or complementary businesses to help fill the void. "Doctors without Borders" is comprised of hundreds of experienced doctors giving their time to help underprivileged individuals in Third World nations. In doing so they have formed professional and personal bonds of great benefit to themselves as a support network, referral network, and mentoring.

You may enter this "Give Back" world with philanthropic motives or with the goal of building your business. It truly doesn't matter which is your motivation -- just do it. If your goals are less than noble once you get involved your heart will melt as you witness changed lives.

Four Proven Methods of Reaching Consumers

Offering discount deals, online deals and computer deals are just a few of the ways companies can draw consumers in and get them to purchase their products. Advertising is one of the best and most established methods in which companies get increased sales and foot traffic in their stores. Throughout history there have been four main forms of advertising that have proven successful. These methods are advertising through radio, television, billboards and print ads. If a company continually conducts marketing campaigns using these four outlets, they should see positive results.

Advertising on the radio is a great way to connect with consumers while they are driving to destinations. Most people spend a great deal of time driving to and from work, kids' activities and retail stores. Companies can use this time to tell them of sales and other promotions going on with their products. The only downside is radio spots are generally only thirty or sixty seconds. This is a very short amount of time to get a message conveyed. If used properly, these spots can increase the amount of impulse shopping trips a consumer makes. Sometimes radio personalities will also provide verbal endorsements of products too. This type of support adds validity to the products and is proven to increase sales as well.

Television ads are an amazing way for companies to connect with consumers while they are relaxing and sitting down in their homes. Commercials can show people how a product works, what something looks like and where it can be bought. These type of ads may contain celebrity endorsement, catchy jingles and beautiful scenery that help connect with the consumer. TV commercials are an expensive way to advertise but have been proven to be one of the most successful methods of advertising. For instance, the television commercials on Super Bowl Sunday generate more income for a network than the actual football game. Consumers see these commercials as huge entertainment and often are enthusiastic about the products they are representing.

Every driver on highways and interstates cannot miss the huge billboard advertising that is done around most exits and major cities. Billboards are often direct and straight to the point, having little copy or fussy pictures. They must be clear and concise so drivers can see and understand the message. Billboards are especially useful for the restaurant industry. They help notify drivers of their locations, type of food they offer and any specials they are running. If done correctly, this form of advertising can actually make drivers exit the highway, stop in a retail outlet and purchase food or other products.

The fourth marketing method that helps to increase sales and consumer traffic is the use of print ads. These are advertisements that are located in newspapers, magazines, signs in stores and home mailers. Retailers can use images and written words to convey how products look, taste and feel. They can notify consumers of special events where product promotion is taking place and special pricing that may be happening as well. Print advertising, when done correctly, can net increased sales and consumer traffic in a specific store and with a particular product.