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 38: Lessons from a serial entrepreneur
Episode 37: Juggling product ideas with commercial realities
Episode 36: How exporting is driving growth for ambitious SMEs
Episode 35: Trumped or pumped? SME sentiments revealed
Episode 34: Anytime Fitness Australia founder talks expansion and competitive markets
Episode 33: Are you a leader, a manager or both?
Episode 32: Customer satisfaction: the only growth that counts
Episode 31: Taking a new idea from concept to consumer
Episode 30: Exclusive: Why not all growth is good growth
Episode 29: Taking the frustration out of people management