26 Dec 2022
Market Penetration and Hiring an Online Marketing Expert?
Market Penetration as defined by Oxford Dictionary is the extent to which a product is found and bought by customers in a particular market. Simply Speaking, it is a measurement of Product or service Performance vs its Potential, which means how much market it must reach and sell vs how much it is doing. It is used to understand the product's current reach and articulate strategies for its market reach by companies. Market Penetration helps you understand the market and industry. How many of people are buying your service or product and how many can buy but doing so? I can help you with your competition and strive for you to look for raising demands for your potential market.
For example, Let's say, you sell computers. there are 100 million people in your state. And you want to reach all of them. but 40 million of them use a computer. 30 million of them are using your company computers. So, your marketing penetration is 30%. Now market penetration helps you understand the potential customer and available marketing but also it helps you to understand your competitors which in this case are 10 million. By knowing this, you can draft the strategy to do your market development so that you can reach all or most of the target market and potential customers.
Market Penetration can be very affected by the digital marketing services company as people in the 21st century is very intricately connected to the digital world and technology. More than 65% of people out of 5.07 billion people around the world using the internet prefer online shopping.
If you want to reach an enormous number of people along with your physical store that is more likely to reach only around your locality customers. You need to use the power of the internet to boost your brand and business.
Why hiring an expert or agency to reach your potential customers and Market is good?
About 5 billion people use the internet and 4.7 of them use some kind of social media. It is reported that the average person spends more than 6 hours on the internet a day and time spent on social media worldwide is from 147 minutes, or two hours.
Digital Marketing Agency companies are those groups who are specialized and skilled to reach out to these people for your business, profile, or brand. They can reach the target audience online and get leads and conversions from your Potential Market that comes under your Marketing penetration data.
Here is the list of what they can do for you.
Making a powerful store or Identity online in form of a website, profile, page, app, or E-store.
Actively and Attractively Optimize them to get reach, leads, customers, and consumers
Make your brand and business grow by increasing your sales, impact, and awareness through SEO, SMM, SMO, and Ads
They can provide you with quality content like their clear & convincing written content, Great Graphics and designs, Videos and audio, and much more.
Having measurements and data is not going to be a solution, instead looking at the potentiality of the available market and acting is what you need for your business to boost and bring success to you. Digital Marketing is the one-stop solution for your success in terms of reaching the right customers. Since we have an immensely enormous number of people using the internet and social media. Your business, your brand, and you may be a creator or influencer does need a digital marketing boost and digital marketing agency is the boost and solution to your all-online needs.
We are Cosmorat Software Solutions. Here for all your digital needs. Our agency is filled with highly efficient and effective digital marketing experts who can properly understand your market penetration and provide you with plans and practices to develop your market and boost your business.