The Local Market in a Global Economy

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Despite the fact that lots of companies have “gone global”, offering services and products independent of geographical location, the market for local a company seems to have weathered the globalization storm.

In reality, many different customers still aim to a local company initially to provide them with what they require.

The Personal Touch

In a society where people are becoming increasingly more dependent on email, IM’s and text messaging to communicate, and social networks sites have replaced Global Economy 01having coffee with friends, when the time comes to find a local business professional, many people still feel the need for face to face business deals. Specifically when that business will bring a specialist into the home or office of their client, making a connection on a personal level assists to establish the trust needed for both parties.

Word of mouth goes hand in hand when it comes to finding a local business to work with. No matter how much money any business invests in marketing and advertising tools, it is the word of mouth advertising that still rules supreme on the realm of company development. It can make a small company that has performed well for their regional customers and can also be devastating for the biggest business that has failed to satisfy their company guarantees.

For a regional company searching for leads, keeping their ear to their Global Economy 02regional market through surveys or advertising can give them effective leads that their sales team can go about developing new clients. Prospects can be found by means of e-mail advertising, auto-responders from websites as well as from ads, web and print alike. Doing regular due diligence in their target market can be extremely helpful to their company. Locally, this obvious interest in their clients can not only construct brand awareness for their business but can produce that ultra-powerful word of mouth marketing that will build their bottom line over time.