Market share is a very important figure for businesses and investors. It is frequently being used as one of the factors in determining the valuations of companies. Generally, the larger the market share, the larger the businesses’ valuations will be. Hence, all businesses including courier companies strive to increase their market shares. Now, the real question is, “How are courier companies in Singapore increasing their market shares?”
Let me share with you what I know
1. Aggressive marketing
Market share can be gained through aggressive marketing. In order to get a large volume of customers, you first have to let them know about the existence of your business. Courier companies are finding innovative ways to market their courier services. Like other industries, courier companies in Singapore are starting to tap on the internet to market their businesses. Besides having a website, courier companies are also using social media to promote their websites. For instance, check out PCA Masters via https://plus.google.com/+PCAMastersSingapore. That is their Google+ page. Customers can get updates with regards to their courier services in that page. Besides Google+, courier companies like PCA also use Facebook and LinkedIn to promote their services. Social media marketing is really trendy now.
2. Networking with businesses
Courier companies are also networking with other businesses which are potential customers to get to know them more. Knowing more people will open up more opportunities for you. Corporate customers are sources of regular deliveries. Hence, they make up majority of the market share.
3. Making prompt deliveries
If courier companies can close sales but cannot deliver their promises of fulfilling deliveries promptly, the customers will leave them. Hence, market share will then decline. What’s the point of getting market share then losing it. The best way to retain market share is to show their customers that they are able to deliver promptly. This way, their market share will be steadily going up over time.