In this episode of the My Business Podcast, we talk about how to better understand your target market and how to reach customers, as well as tips for knocking off larger competitors.
“You could probably make a comparison with our business to a niche coffee brand that goes out in Australia, grows very organically through finding great little cafes in different markets and putting their coffee in there. You win the hearts and minds of the owners. The consumers start liking the coffee and you gain your market share that way,” says Jared Fisher, founder of Rogue Beauty.
This route to market is a strategy Jared learnt while working in the US, before returning to Sydney and establishing Rogue Beauty, a distributor of high-end hair and beauty products through hairdressing salons.
Yet this is only one part of a chain of businesses in partnership for mutual benefit. Jared is also a partner with US-based Oribe Hair Care, which manufactures its own product range, in conjunction with prominent American beauty products owner Luxury Brand Partners.
My Business sits down with Jared, together with Reuben Carranza, the group president of Luxury Brand Partners, to discuss:
• How to break into a market against large, established players
• Tips for properly understanding your target market to maximise sales conversions
• Why even the most trusted brand means nothing if your marketplace engagement is wrong
• Establishing a new business to act as the distributor of your own and other products
And much more!Listen to other instalments of the My Business Podcast:
Episode 28: 'How I achieved 80% growth in turnover'
Episode 27: Giving your business the perfect fit-out
Episode 26: Cash flow tips and tricks for SMEs
Episode 25: SMBs have their say on economic prospects
Episode 24: Offshore workers: the next bastion of business growth?
Episode 23: What Trump means for Aussie businesses
Episode 22: Balancing innovation with paying the bills
Episode 21: The do's and don'ts of selling online
Episode 20: A true blue Aussie success story
Episode 19: Growing a successful business against the odds