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 17: The nuances of business expansion
Episode 16: Adding scale and value in a services business
Episode 15: Guide to winning clients and retaining staff
Episode 14: The working mum transforming a global product chain
Episode 13: 'How I've kept my first customers for 22 years'
Episode 11: Expert tips for getting your marketing right
Episode 10: Tips for qualifying new business leads
Episode 9: How I structure a 90-hour working week
Episode 8: How to negotiate better payment terms
Episode 7: The most important part of making a sale