How to Create a Market Penetration Strategy With STP Marketing
Market penetration is a quantitative measure of total sales transactions compared to the estimated market for a product or utility. Measuring market penetration gives you a direct indication of both your marketing and sales performance. If you want to achieve higher market penetration, use STP marketing which carefully directs your efforts to highly qualified prospects.
STP (Segmented Targeting Positioning) marketing is the gold standard for digital marketing. So let’s discuss some essential market penetration strategies with STP Marketing which will help you connect with more qualified customers -
1. Personalize your marketing campaign
2. Reconsider your pricing
3. Introduce new products and timely update existing ones
4. Introduce referral programs that provide the customer with rewards
5. Position your sales reps for success
6. Expand marketing efforts to new channels
Market penetration strategy focuses on selling more of your products in your existing market to gain a higher market share and more customers. Furthermore, understanding and using STP marketing will universally boost the effectiveness of all your marketing efforts.
