Finding New Markets
As your business grows, you may want to branch out and tap new markets. The Association of Development Finance Institutions in Asia and the Pacific recommends the following ways to sales growth:
Embrace the Web
If you are looking for a new market, try selling on the Web.
The global marketplace can offer opportunities to expand sales.
Sell to the Government
The government spends millions on goods and services.
Refer your customers
Get other firms to pay you a small referral fee for every customer that you send their way.
License or franchise
By franchising your business, you can reach new markets without expanding your space. The more you realize that advertising is only one percent of the marketing weapons available to you, the easier it will be to stay within your advertising budget.
Source: BusinessLine, Vol. 1 No. 1, 2003