Situation: A CEO’s company has historically been organized around a single company’s products and technologies, though their customer base uses multiple platforms. The company wants to expand from a single-technology emphasis to a broader technology base which will more accurately reflect its customer base. What can assist the company in building both its technology and customer base? How do you expand your market?
Advice from the CEOs:
• Conduct surveys among users and employees of the existing customer base. Use what is learned to design new approaches to expand both the company’s technology base and customer base.
• Expand into additional industries, products, and a more diverse company customer base.
• Determine to there is a genuine need for the company’s technology and services. If not, adjust both the technology and offering to better meet customer needs.
• Build a marketing campaign around differentiating factors that others do not provide. For example, in the cooperative banking industry market accounts that allow no-fee ATM access through other coop networks’ and banks’ ATM machines to expand customer convenience and appeal.
• Target niches. For example, small businesses or home businesses where the company’s lower fees make a difference and personal service is appreciated by the owner or someone who works closely with the owner.

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