How to size your market in 3 steps
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A colleague of mine is starting a new project publishing arts research via an online Journal. It’s a fantastic idea and very necessary, as lots of great learning never sees the light of day.
So, the very first question for any new venture, new programming initiative, or new service is
who will be interested and is it really worth my time?
1. The best way to size your potential target market is to set up a holding page. Make sure the sign up via email box is front and centre. For a good example have a look at this design from bigfeetlittlefeet.com.
Ensure your database picks up each email address and stores them in a location you can access easily. You don’t want anyone falling through the cracks or having to sign up again.
The BigFeetLittleFeet design includes share buttons for social media platforms, a vital addition to your page. Including these share buttons will increase the number of ways your audience can interact with you and learn more about what you do. And best of all; share your new service with others. You can then track the amount of shares and mentions on social media platforms.
2. Send on a confirmation email to each user telling them what they have signed up for, your new Journal, new arts programme, film season etc.
3. Design an email marketing campaign to keep all your perspective users informed right up to the launch of your new service/programme. Better yet, keep these users in the loop monthly via email newsletter. Tell them about the continuing story, future directions and feedback from your audience. Remember to include social sharing buttons on your newsletter design too.
This methodology is the best form of customer development and customer retention in the long-term. View this process with the long-term value of your users in mind. This way you ensure you create a mutually beneficial relationship in conversation and in collaboration with your users.
By sizing your potential market before you go into planning, production, delivery and evaluation; you save yourself lots of time and energy and lets face it, money and resources too. At the very least, you are armed with some reliable data as to the amount of users and the potential impact of your new venture.
To create holding pages for your new service check out www.launchrock.com. Why not give it a shot when you are planning on initiating a new project.
Drop me a line and I can help you size your market effectively.
Tomorrow’s post: How to get traffic to your new holding page