Market Intelligence - Quaternary EconomyMarket Intelligence - Quaternary Economy

Wednesday, October 24, 2012

Today’s mental workout continues with exploring the opportunities in the Quaternary economy by focusing on market intelligence. We encourage people out there, whether displaced workers from the recession, young graduates, high school or college to join in the Quaternary sector, the knowledge-based sector. Not only does it appear to be the highest growing sector of the economy, but also the most viable due to its limited start-up capital requirements. Selling and marketing 'intelligent' knowledge to the small businesses around the world who desperately require these services holds huge potential to those willing to learn. If you are under-employed or unemployed for a long time, it’s all part of the re-training and learning of new essential skills that allows you to prosper in the new world. The big corporations of this world didn’t become huge overnight, they did things differently and took several steps to get there, market intelligence through consulting services is one of those steps. Different opportunities now exist to help struggling small businesses to not only survive, but thrive in the new world economy.

Market intelligence provides small businesses with a competitive advantage. There are still plenty of small businesses that are yet to adopt market intelligence in their lead generation. Some owners still have no idea what their ideal client profile looks like. If they don’t know that information, it’s very hard to attract the high quality clients over and over again. For business expansion to occur, it requires providing services to those who appreciate the small business the most. The typical business just allows potential revenue to walk out of the door right alongside the leaving patron. Whether it’s the auto mechanic after doing an oil change without gathering any additional information or the flower shop which doesn’t have a follow-up system in place, the opportunities are endless in every community. In a 21st century business world, if you don’t have a system that recognizes your ideal customers and how to best reach them, you are putting a great emphasis of hope in your marketing, we all know that hope is not a strategy.

Just as individuals need intelligence, businesses need it more so. Market intelligence allows for massive business expansion. Knowing why customers choose you over others and how to more efficiently reach them is a game-changer. It allows the small business to put a system in place for effective lead generation. Targeted marketing always brings better results. Market intelligence identifies your best prospects and where they are most likely to be found including uncovering the best channels. Most small businesses tend to do a promotion here and there to boost results, usually for the short-term. However, real business expansion comes from putting systems in place for around-the-clock lead generation. Not just standard lead generation, but attracting likely-to-do business leads. Implementing sales funnels that attract high quality leads catapults a small business to the next level. Tomorrow’s mental workout will identify various strategies that can transform business performance. As always, make it an intelligent mental workout.